Subject : Accounting Topic : Management Accounting practice in changing business environment & perfomance measurement system (PMS)

B. Kaplan and Norton developed the Balanced Scorecard which is used to translate mission and strategy into objectives and measures, organized into four perspectives: financial, customer, internal business process and finally learning and growth. Required: Discuss three (3) usefulness of the Balanced Score card in assisting organizations to achieve improvement as compared with traditional method of performance measures. (6 marks) (Total: 15 marks)