The Balanced Scorecard Attempts to Evaluate the Underlying Financial Drivers

question 22

True/False

The balanced scorecard attempts to evaluate the underlying financial drivers of nonfinancial performance.

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Definitions:

Operating Segments

Components of a business from which separate financial information is available and is evaluated regularly by the company’s decision makers.

US GAAP

United States Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures that companies and their accountants must follow when they compile their financial statements.

ASPE

Accounting Standards for Private Enterprises; a set of accounting standards for privately held companies in Canada.

IFRS

IFRS, or International Financial Reporting Standards, are a set of accounting standards developed by the IASB that aim to ensure transparency, accountability, and efficiency in the financial statements of public companies globally.