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How can non-financial performance measures enhance

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Reference no: EM132534076

Evaluating the performance of an organisation is a key aspect of managing and controlling it. Many organisations evaluate performance using financial measures which may include techniques such as variance analysis. Most organisations undertake a monthly variance analysis by comparing actual and budgeted revenues and expenses while some simply report the amount of these variances together with the overall profit/loss variance. However, a more thorough variance analysis identifies the causes of the variances by dividing the total variance into its various components.

Question a) Explain the various components of an organisation's overall profit/loss variance that describe the causes of the variance.

Question b) How can non-financial performance measures enhance an organisations financial performance measures?

Reference no: EM132534076

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