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Essay / Research Paper Abstract
This 5 page paper in written in two parts. The first part pf the paper examines the characteristics of balanced scorecards and assesses its’ advantages over other accounting measures. The second part of the paper looks at transfer pricing and shows the student how to calculate and minimum and a maximum transfer price, and why adjustments may be made to the price. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEtransp.rtf
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Unformatted sample text from the term paper:
analysis it can be argued it is not, only a redevelopment and updating of an old idea . The aim of the Balanced Scorecard is to translate the companies organisational
vision into a set of measurable strategic and/or tactical objectives (Missroon, 1998). Missroon then argues that this methods rationale is based on the idea that an organisation is more
likely to reach its goals it understands its business from four distinct perspectives. Those are the perception of the organisation or company by the shareholders and the customers, which processes
must be excelled at and how can the organisation learn, innovate and motivate (Missroon, 1998). The fact these steps in themselves can lead to success have been amply demonstrated by
the Japanese firm Caterpillar, the heavy plant manufacturing company. The balanced scorecard allowed management to recognise the problems within the products and services offered, and then gave them the ability
to redesign them with the advantage of recognising what the customers wanted by viewing the problem from their perspective. Its success it
due to its ability to bridge the gap between the front-line workers and the objectives of high-level executives. The system works by gathering and processing information from the companys existing
computer systems. Using the information gained it then decides if the organisation is on track and meeting its goals. To achieve this the Balanced Scorecard builds that picture with financial
and non-financial measurements, such as customer loyalty, quality, revenue, and employee knowledge. The system then delivers a grade along with a qualitative
assessment that everyone can view to see if the progression of the organisation. (Rolph, 1999). The results are presented in an easy to understand form, in some computer programmes this
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