Account for Management Decision Making Week 2 Assignment Using Accounting Information for Decision Making- Performance Report and the Balanced Scoreboard For this Assignment, you will continue in your role of a consultant

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Account for Management Decision Making

Week 2 Assignment

Using Accounting Information for Decision Making- Performance Report and the Balanced Scoreboard

For this Assignment, you will continue in your role of a consultant to provide information about using accounting information for decision making to a fictional organization so it can better prepare for the future. Last week, you submitted the first of two reports on financial information and budgeting. This week, you will submit the second report, which will focus on performance reports and balanced scorecards.

In addition to the requirements that follow, be sure to incorporate into your report references to appropriate academic sources, such as those found in this week’s Learning Resources or those in the Walden Library.

To prepare for this Assignment:

• Download Week 2 Part 1 Assignment Template.
• Download Week 2 Part 2 Assignment Template.
• Your instructor will provide part of the data to      complete the calculations for this week’s Assignment. To access that      information, refer to Doc      Sharing.

Submit your completed business report and accompanying Excel file. Your report should be 3–5 pages in length (excluding title page and references) and should address the following:

Analyze the Performance Report- Preparing a Flexible Budget

For the first part of your report, you will examine a performance report based on the static budget about which the owners are very concerned. They feel that the unfavorable variances that are reflected in the report indicate an area that needs to be addressed, but they are looking to you for a better understanding and concurrence. To access this performance report, refer to the data that your Instructor provided in Doc Sharing for this week’s Assignment.

To complete this part, address the following:

• Using the Week 2 Part 2 Assignment Template and      the data provided by your Instructor in the Doc      Sharing area, prepare a performance report that includes a      flexible budget.
  • Note: In addition to submitting your work in Excel, you will insert your       performance report into your main document.
• In your report, analyze why the original report      was incorrect and explain the conclusion you reached based on the      performance report.
• Then identify at least three questions regarding      the performance report and include a rationale for why you asked each      question.

The Balanced Scoreboard

One of the owners read recently that the balanced scorecard is a strategic-based performance management system and is wondering if it would be beneficial to implement a balanced scorecard approach. For the second part of your report, you will provide an analysis of how using the balanced scorecard can benefit the company. To complete this part, address the following:

• Explain how the balanced scorecard communicates      strategy and provide examples.
• Examine the four quadrants on the balanced      scorecard, how they are related, and what their impact is on financial      performance.

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