Accounting homework help. UNIT NAME: Strategic Management Accounting
Written Assignment Information
Introduction
Strategic Performance Measurement Systems (SPMSs) have long been
recognized as a crucial element for improving business performance.
Maxims such as “What Gets Measured Gets Done” reflect the view that
implementing appropriate SPMSs ensures that actions are aligned to
strategies and objectives.
The heavy focus on traditional accounting measures within the financial
services industry has been identified as the possible cause of many
problems within the industry, from the cause of the Global Financial Crisis
of 2007-2008 to other recent failures within the financial services sector.
Poorly designed performance measurement systems that focus solely on
short-term financial performance result in managers emphasising shortterm financial performance metrics, in the interest of current profitability,
to the detriment of endeavours that can result in long-term benefits,
including new product development, process improvement, human
resource development, information technology, and customer and market
development. Attempting to resolve the problem by supplementing
standard financial practices with additional indicators that can help a firm
evaluate its long-term performance, Kaplan and Norton introduce the
balanced scorecard to integrate these factors into the business performance
assessment of a company.
Research Activity
The Purpose
To undertake a search of the relevant literature to determine what are the
major issues related to the implementation of Strategic Performance
Measurement Systems (SPMSs), such as the Balanced Scorecard (BSC), in
the Financial Services Sector.
Task Outline
Choose one of the major banks in Australia, discuss their current1
Balanced Scorecard and provide comprehensive analysis on:
• • the benefits of BSC in reaching strategic objectives of that bank
• • the issues related to implementation of the BSC in that bank
• • common barriers to successful scorecard implementation in the
Financial Services sector in general.
Your report should be written in fluent grammatical English. It should
include a bibliography of referenced sources. Internet resources used
should be acknowledged and fully referenced. All references and sources
must be properly acknowledged. A copy of the final assignment should be
retained by the author.
Submission Requirements
• • The assignment MUST be lodged on or before the due date indicated in the
assignment details.
Your assignment should be between 1,500 to 3,000 words.
• • If you have submitted the assignment electronically, please make sure you have
a backup copy.
• • It is the student’s responsibility to ensure that the lecturer has received the
assignment.
• • Coversheet is not required.
• • If you are using multiple files for your assignment, the document MUST be
combined into one document, and the final file must be submitted in PDF format.
• • Resubmission as a general rule is NOT possible, however the Lecturer may ask
for resubmission if it is deemed appropriate. Details for such resubmission will be made
available by the Lecturer if, and when the situation occurs.
• • You MUST comply with assignment preparation and presentation guidelines
outlined in this document. Failure to comply with these requirements will result in your
assignment being
Plagiarism
Your assignment will be automatically compared to work of your classmates, previous
students from CDU and other universities, with material available on the Internet, both
freely available and subscription-based electronic journals as well as texts and other
sources. Plagiarism will be penalised and understand its implications. All sources of
information and ideas used in assignments must be referenced. This applies whether the
information is from a book, journal article, the internet, or a previous essay you wrote or
the assignment of a friend.
