Understanding The Balanced Scorecard In the past, traditional reporting systems give suggestions on

Using a financial accounting system performed sufficient job for giving importance to these assets. In the information era, value of the company is rooted in human resources, customer relationships and innovative processes. Financial accounting system is not adequate in valuing these assets. The Balanced Scorecard does more than standard financial measures. It includes perspectives such as internal process perspective, the customer perspective, the, and the learning and growth perspective. The Balanced Scorecard is considered as a strategic planning and management system that is widely used in various industries such as government, businesses, non profit organization. This will surely help in the arrangement of business activities with the strategies and vision of the company.