Abstract
Currently, increasing emphasis is placed on performance measurement and management. The paper is concerned with the connection between the performance of an enterprise in general and financial performance. This connection has been naturally sustainably changing over time. Question of performance measurement is observed by a variety of functional disciplines. The paper emphasizes the necessity to bring a diverse body of knowledge of performance measurement issues into a coherent whole. In subsequent part it deals with summarizing the most important developmental tendencies of financial performance measurement and management accounting and with analysing of the relation of performance management and management accounting.
Highlights
We can often hear that someone bought a new and high-performance car
It is obvious that performance measurement is one of crucial tools that enable managers to manage and control companies
A question of performance measurement is observed by a variety of functional disciplines
Summary
We can often hear that someone bought a new and high-performance car. Claims that among athletes competing in some sport the one with the best performance won is usual as well. The paper is a follow-up to an earlier research project The Importance of Accounting Information in Financial Performance Measurements ( registered by the Internal Grant Agency of University of Economics in Prague under the registration number F1/21/2010), which was solved in 2010 and 2011. Well the new project covers financial criteria, and non-financial criteria and tools and its mutual integrity In this regard, the paper focuses mainly on the following objectives: To analyze a diverse body of knowledge of performance measurement issues from an interdisciplinary point of view and subsequently to bring them into a coherent whole; To analyze the role of management accounting in performance management system and to assess its importance, and highlight areas where management accounting suffers from its limitations. Z.: Different Perspectives on Business Performance and Impact on Performance System Design
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