Balanced Scorecard for management reporting: an information management mechanism for commercial organizations

Abstract

In recent years, the interest in the construction of the reporting system in accordance with strategic goals in commercial organizations has increased. In order to achieve strategic goals, managers of organizations are faced with the problem of managing large volumes of information formed at the operational level. The idea of the Balanced Scorecard developed by Norton and Kaplan can be used to manage that information. In the article, in accordance with the pre-defined objectives, the expediency of using the system of Balanced Scorecard for information management in the management accounting system is justified and a framework of managerial report prepared in four directions of Balanced Scorecard is proposed. According to the author, the implementation of the proposed report in the information system of commercial organizations will support the process of managerial decision making and the process of strategic goals implementation control, improving the mechanisms of information management in the management accounting system of commercial organizations.