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Is it true that we will be told the financial & non-financial information in the exam question related to balanced scorecard and building block model. The difficulty lies in calculating the measures according to the relevant perspective. We will then compare our company with competitor’s performance to see whether we have done well or not.
However, if we are not given financial or non-financial information in the question then we have to state the goals with the relevant measures that the company must excel to achieve its objectives.
I am wondering whether you have any past paper questions that you attempted in the lecture?
What you have written is correct.
I assume that you have a Revision Kit from one of the ACCA Approved Publishers (if not then it is essential that you buy one) and so you will find several past exam questions (and answers) on this.
There are lectures working through lots of past exam questions although I cannot remember which of them are on performance measurement.
Thanks for the answer and the link 🙂
Sir I need your help with the question Medcomp in mar/june 2021 where we are asked the perspective of the balanced scorecard but I was unable to correctly write down the correct goals and their measures to evaluate the performance.
I hope CSFs are goals and KPIs are measures.
Please help me here!!!
CSF’s are like goals (but without a specific target). They are the things they need to focus on and measure if they are to do well.
KPI’s are indeed the things we will measure.