Applying the balanced scorecard to small companies

Article Abstract:

Traditional measures of financial performance are rapidly becoming obsolete as the business environment is transformed by corporate restructurings and requires new ways of viewing and measuring performance. In fact, the greatest challenge that restructured companies may be facing is the successful formulation, implementation and evaluation of new measures that suit their particular needs. A new approach to performance measurement is the 'Balanced Scorecard,' which combines financial and nonfinancial measures based on the firm's key success factors. Advocated by Kaplan and Norton (1996), this new concept directs management's focus toward strategy, structure and vision. It helps integrate the efforts of subunits and members to achieve the company's overall goals and objectives.

Performance, Evaluation, Measurement, Small business, Organizational effectiveness

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Voluntary financial disclosure by Mexican corporations

Article Abstract:

Mexican corporate financial disclosure practices are described. The extent of disclosure is compared to company size, financial leverage, and proportion of assets in place. Examination of Mexican corporate voluntary financial disclosure practices provides added insights into factors behind such choices, and adds to understanding of accounting practices and institutions in non-Anglo-American countries. Examination of a sample of 52 Mexican Stock Exchange-listed companies reveals that voluntary disclosure practices vary widely, with the degree of disclosure significantly associated and positively related to company size, but not to assets in place or financial leverage.

Finance, Accounting, Mexico, Corporations, Corporation reports, Company reports, Disclosure statements (Accounting), Corporations, Mexican

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Make better decisions: divide and conquer

Article Abstract:

The decomposition technique can be used by executives to enhance their decision making capabilities. Typically, the manager will break the problem into segments, analyze each segment, and then logically restructure the problem. The decomposition technique is usually reserved for production-oriented environments. The three main attributes of the decomposition technique include: it will direct informal thinking to the crucial elements of the decision; it will help break loose hidden assumptions for a decision and make known their logic; and it will provide an efficient vehicle for defining the reasoning which forms the basis of a recommendation.

Methods, Decision-making, Decision making, Management, Managerial accounting

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