SITUATION:You are chief accountant of a great company. Your CEO just came back from an International Management Conference. He was raving about something new. He was excited to use a Balance Scorecard. He turns to his CFO and you as chief accountant and demands, I want a balanced scorecard set up on my computer by next Monday! The CFO turns to you and tells you to do whatever that is and to NOT upset the managerial/cost accounting system they are already using.ASSIGNMENT:2 pages defining and describing a Balanced ScorecardCover such subjects as:What is a Balanced Score card?Are there different ones?How does it work?What does it show?How often should it be updated?Etc.3 pages on how you could use a Balanced Scorecard in one or more company/industries.Assume you are one of the top people in the management team.Describe the company briefly. Explain the use, contents, etc. of a Balanced Scorecard in your business.You are permitted to discuss its use in more than one kind of a business.