Define Balanced Score Card

question 20

Short Answer

Define balanced score card. What are the four quadrants of the balanced score card approach?

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Definitions:

Consolidated Financial Statements

Financial statements that combine the financial information of a parent company with its subsidiaries, presenting it as if the group is a single entity.

Entity Principle

The Entity Principle is an accounting concept stating that a business must be accounted for separately from its owner or any other business entity.

Revenues Earned

Income that has been generated from business activities and is recognized once the service has been provided or the goods have been delivered.

FASB Suggestion

Recommendations or guidance offered by the Financial Accounting Standards Board, which sets accounting principles in the United States.