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Essay / Research Paper Abstract
This 7 page paper outlines a plan for a company to set up a system to monitor the financial performance of a range of subsidiary companies. The paper shows hw the use of a balanced scorecard system could be utilized. The bibliography cites 5 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEplan02.rtf
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Unformatted sample text from the term paper:
located in a range of thirty African countries. There are many approaches that can be taken in order to collect and analysis this type of data. We can choose
to look at this as monthly audits with a single check each month, or we can look at this in terms of continual monitoring. If there is an internal intranet
system where the accounts departments can link up then an ongoing system may allow for the early identification of any problems. Two staff to monitor numerous companies is a
challenge, therefore any plan needs to look to make use of technology and maximise the labour of the employees. One system that has been used in similar circumstances is that
of the balanced scorecard. Many companies will uses a system such as this to monitor the performance and progress of different departments in a company on an ongoing business. This
is suitable to be used to monitor financial progress and performance. The success of Balanced Scorecard has already been demonstrated by many
companies such as world renowned Motorola who have used a scorecard and subsequently received a National Quality Award (Morgan, 1998). Quantum Corporation, in developing its scorecard system with improved visibility
on cycle time, improved product quality and team productivity whilst trimming 33% off the cycle time needed to produce disk drives. (Morgan, 1998). This can be applied to the accounting
system of the different companies, the measurements that the system uses are simply a matter of choice, just as production levels of widgets can be monitored so can the profit
and loss accounts along with balance sheet items. To understand how this can be achieved the system must be understood so it can be replicated and adapted by a
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