Capital investment projects may be relatively ‘operational’ in nature or have a more ‘strategic’...

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Capital investment projects may be relatively ‘operational’ in nature or have a more ‘strategic’ focus. ‘Strategic’ projects are substantial investments that involve high levels of risk, produce hard-to-quantify (or intangible) outcomes, and have a significant long-term impact on corporate performance. Typical examples include company acquisitions and mergers, the introduction of major new product lines, the installation of new manufacturing processes, the introduction of advanced manufacturing and business technologies, and substantial shifts in production capability (Mintzberg et al., 1976; Butler et al., 1991; Accola, 1994; Slagmulder et al., 1995; Van Cauwenbergh et al., 1996; Slagmulder, 1997).

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Introduction 
Management Accounting can be defined as the process of making the reports and 
accounts for management so as to facilitate the correct and timely financial and statistical 
information to managers so that they can take the day to day, operational and short term 
decisions. The management accounting provides the monthly or weekly report for the internal 
users of an organization. The report generally shows the status of available cash, sales revenue, 
accounts receivable, inventory, debts etc. The reports include the trend charts, variance analysis 
and other statistics which provides information about the operational efficiency of the 
organization. On the basis of these reports, the corrective actions can be taken by the managers 
so as to improve the performance of the company. (Atrill, 2009) 
Balance Scorecard 
Balance score card is regarded as an important tool which helps in analyzing the 
performance of the business from various perspectives which includes financial, customers, 
internal operations and learning and growth perspective. This tool helps in examining and 
assessing the performance of the organization and fills the gap between the strategic objectives 
of the organization and the accomplishment of the goals.

Capital investment projects may be relatively ‘operational’ in nature or have a more ‘strategic’ focus. ‘Strategic’ projects are substantial investments that involve high levels of risk, produce...

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