For the first part of your report, you will examine a performance report based on the static budget about which the owners are very concerned. They feel that the unfavorable variances that are reflected in the report indicate an area that needs to be addressed, but they are looking to you for a better understanding and concurrence. To access this performance report, refer to the data that your Instructor provided in Doc Sharing for this week’s Assignment.
To complete this part, address the following:
Using the Week 2 Part 2 Assignment Template and the data provided by your Instructor in the Doc Sharing area, prepare a performance report that includes a flexible budget.
Note: In addition to submitting your work in Excel, you will insert your performance report into your main document.
In your report, analyze why the original report was incorrect and explain the conclusion you reached based on the performance report.

Then identify at least three questions regarding the performance report and include a rationale for why you asked each question.

One of the owners read recently that the balanced scorecard is a strategic-based performance management system and is wondering if it would be beneficial to implement a balanced scorecard approach. For the second part of your report, you will provide an analysis of how using the balanced scorecard can benefit the company. To complete this part, address the following:
Explain how the balanced scorecard communicates strategy and provide examples.