In this discussion, we will examine how firms use budget and other information to evaluate the performance of individuals and of the firm. Students should be able to exhibit a familiarity with these concepts and how they are used.
Explain the concepts of responsibility accounting and performance evaluation in your own words. How can these be used by a firm to improve their performance? Describe a balanced scorecard and explain how it differs from a traditional evaluation approach.
Post your initial response to the discussion question no later than Thursday 11:59 PM EST/EDT. You will not be able to see any of your classmates’ posts until you have posted your initial response.
- If you are posting your initial response, click the Start a New Thread button.
- If you are responding, click the Reply to Thread button for the thread you wish to respond to.
Respond to at least two of your classmates no later than Sunday 11:59 PM EST/EDT.