Science and Education Publishing American Journal of Information Systems 2374-1988 3 2 2015 10 19 Balanced Scorecard vs Standard Costing 31 36 EN Cheporov Valeriy Economic Faculty, V.I. Vernadsky Crimean Federal University, Simferopol, Republic Of Crimea AJIS2015321 10.12691/ajis-3-2-1 2015 6 9 2015 9 13 2015 10 17 A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued. The development of strategy maps and Balanced Scorecards has transformed the foundation of management control systems. Costs of managerial control system can be significantly reduced when found common framework for its various instruments. The aim of paper is to establish communication between the Balanced Scorecard and Standard costing as an instrument of management information systems. It is proposed to use a variance analysis for the changes in the financial position as the metrics for perspectives of Balanced Scorecard. The possibility of using accounting balance equation and double entry for the perspectives of Balanced Scorecard also shown.