Today ( 6 /11/2009 ) , I found the email from one student who want to take my help to solve 6 questions relating to cost accounting .
He sent me Pdf file of all accounting problems . After downloading the pdf
file , I have read his questions . Now , I have taken his first question's first first sub-question. Actually , this is relating to strategic management but because cost accounting and finance also helpful for making effective strategy , then , I thing it has include. Read it first this question He sent me Pdf file of all accounting problems . After downloading the pdf
In this question , The Rev . Paul Harison is a social worker but he need accounting expert who can tell him how to effective utilize the shelter and its space at the lowest cost . From some resource he has listened about the balanced scorecard . Now , he is interested to know its estimated cost and benefits , if he implementing a balanced scorecard .
Dear , first of all , I am telling briefly about balanced scorecard . The balanced scorecard is a strategic management technique for effective utilization resources in the field of finance , education and marketing and NGO works .
Suppose , If you have to implement the balanced scorecard in the field of finance , you need the services of finance specialist who will find following and analysis . So , cost is only the service charges of finance specialist .
1. Return On Investment
2. Cash Flow
3. Return on Capital Employed
4. Financial Results (Quarterly/Yearly)
If it is implemented in above case , then
Cost will be only the organisation from which you have taken the services , that organisation will all charge him on the basis of no. of team members and time of team activities and other software cost .
Benefit will be in the form of effective utilization of resources , increase the amount of donation .
I think , second part of question can tell the specialize person from whom you will contact for implementing balanced scorecard tool .
