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

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