Module 7 Discussion/ Accounting

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