Old Non financial performance measures Flashcards
Define perofrmance management
Aligning employee activity to org goals efficiently and effectively
Define non financial performanc emeasures and supporting factors.
“Measurement of the non value adding tasks in an org.
Action plan
Formal time period
Quantifialbe or verifiable metrics
Periodic review”
Define performance improvement
An iterative process of review and improvement. Single & double loop.
Describe method of performance improvement.
“Team building
Goal, value & perofrmance strategies”
Define sustainabliity
"Development that meets the need of the present without compromising the ability of future generations to meet their own needs. Key concerns: • Economic concerns • Environmental concerns • Social responsibility "
Define sustainabiliyt management accounting
Sustainability management accounting is the tool used to attain the organisation’s (or specific business unit’s) sustainability goals. It simultaneously integrates the economic, environmental and social performance of an entity with strategic management.
List recent initiatives used in sustainabiliyt reporting
“• (ASX) Corporate governance principles and recommendations profiding a practicle guide for companies on ASX.
• Increased reporting annual reports that promote the social and environmental role their entities undertake
• Company constitutions that provide for corporate social responsibility.
• The Global Reporting Initiative (GRI) - standardised requirements
“
What aspecs of sustainability doe sthe GRI include?
"Economic Environmental Labour practices Human Rights Society Product responsibility"
Sustainability enterprise governance is built on a platform of conformance and performance governance - discuss
“Conformance (via corporate governance) adherence to codes, standards and formal internal corporate governance controls.
Performance (via business governance) occurs through:
strategy, change management, mergers & acquisition
“
Ethics play an imiportant role in sustainability management and so in the overall organisations performance.
“Identify problems
Consider wellbeing of others & society
Apply ethical values
Work toward improving ethical standards & conduct”
Define the role of sustainability control practices
”
• plan and direct management attention to sustainability issues
• inform sustainability management decisions
• control and motivate behaviour towards sustainable outcomes
“
Sustainabilty management accounting identifies costs and revenue associated with sustainability management. List the likely catagories
"Conventional eg labour Hidden eg deigns Contingent eg fines Image eg goodwill Societal eg environmental damage"
List key sustainability management accounting tools
“Value chain anylasis - +/- of activities
Cost allocaiton - operational sust. costs
Life cycle costing - cradle to grave
Capital budgeting - comparison calculatoin
Balanced scorecard - intergrate into operations”
