Accounting Balanced Scorecard Metrics Pack
The pack includes 3 Accounting metrics:
- Accounting Firm. Clear vision and mission act as beneficial tools to help an accounting firm in scaling the heights of success.KPIs can help in implementing such a strategy. These indicators help in developing a balanced scorecard which can play an important role in proper implementation of the firm-s strategic plan. In this context, four basic perspectives can be considered.These are:-Financial; Customer; Internal process; and Workforce plans. These perspectives focus on various "critical success factors which are very crucial in the success of the firm.
- HR accounting. Regular analysis of an organization-s progress towards its goals is a critical factor to measure its performance. Proper monitoring of expenditures incurred and investments made in one of the valuable assets of the organization, i.e. human resources, and its outcomes is very essential from organization-s viewpoint as well as from the customer-s perspective. KPIs for quantifying the associated costs and revenues can be divided into four perspectives- HR costs, HR investments, HR outcomes and Strategic achievements. Collectively they can be employed to handle human resource issues in an improved fashion.
- Profit Focused Accounting. KPIs act as the key success indicators by making the organization more strategy-focused. It is the next step after establishing a clear mission. KPIs can be beneficial even in profit-focused accounting by shifting focus to four critical perspectives: - Cost reduction, quality improvement, manufacturing processes and education & learning. These perspectives result in overall performance improvement and thus making profit-focused accounting an implementable approach.
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