tailieunhanh - Lecture Management accounting (5/e): Chapter 14 - Kim Langfield-Smith

Chapter 14 - Contemporary approaches to measuring and managing performance. This chapter presents the following content: The purposes of performance measurement, conventional performance measurement, contemporary performance measurement, non-financial measures for operational control, strategic performance measurement systems, does non-financial performance lead to financial performance? benchmarking, warning signs of an inadequate performance measurement system, designing and effective performance measurement system. | Chapter 14 Contemporary approaches to measuring and managing performance 14- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Outline The purposes of performance measurement Conventional performance measurement Contemporary performance measurement Non-financial measures for operational control Strategic performance measurement systems Does non-financial performance lead to financial performance? Benchmarking Warning signs of an inadequate performance measurement system Designing and effective performance measurement system 14- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith The purposes of performance measurement Communicate the strategy and plans of the business and align employees’ goals Allow manager to track their own performance against targets and take corrective action . | Chapter 14 Contemporary approaches to measuring and managing performance 14- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Outline The purposes of performance measurement Conventional performance measurement Contemporary performance measurement Non-financial measures for operational control Strategic performance measurement systems Does non-financial performance lead to financial performance? Benchmarking Warning signs of an inadequate performance measurement system Designing and effective performance measurement system 14- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith The purposes of performance measurement Communicate the strategy and plans of the business and align employees’ goals Allow manager to track their own performance against targets and take corrective action Evaluate subordinates’ performance, and provide rewards Guide senior managers in developing future strategies and operations 14- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Problems with conventional financial performance measures They are not actionable Financial measures emphasise only one perspective Financial performance measures provide limited guidance for future actions May encourage actions which decrease both shareholder and customer value 14- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Contemporary performance measurement systems Include non-financial and financial measures Have a strategic orientation—directly measure areas that provide competitive advantage Use external benchmarks Emphasise continuous improvement 14- Copyright 2009 McGraw-Hill Australia .

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