Introduction
You'll learn what performance measurement and management means, why it's central to the management accountant's role, and how it fits into the plan-do-check cycle that keeps organisations on track.
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In this lesson
- 0:00 Introduction to performance measurement and management
- 1:01 Mission statements and organisational objectives
- 1:27 Financial measures of performance
- 1:49 Non-financial measures and balanced scorecard
- 2:08 Benchmarking against competition and standards
- 2:25 Performance measurement in specific business environments
- 2:32 Cost control versus cost reduction techniques
- 3:00 Planning, budgeting and setting financial targets
- 4:06 Monitoring investment performance and decision outcomes
- 5:06 Performance measurement as organisational control
About this lesson
This introduction sets the foundation for understanding how businesses measure performance across multiple perspectives — financial and non-financial — and how that data drives control and decision-making. You'll discover the key topics ahead, including mission statements, the balanced scorecard, benchmarking, and cost control techniques, all essential for PM and other management accounting qualifications. Whether you're monitoring budgets, investment projects, or departmental performance, mastering performance measurement gives you the tools to help management run the business effectively and achieve strategic objectives.
Duration: 6m
Transcript
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