5 A management accounting focus for performance management in an organisation may incorpor

5 A management accounting focus for performance management in an organisation may incorporate the following:

(1) the determination and quantification of objectives and strategies

(2) the measurement of the results of the strategies implemented and of the achievement of the results through a

number of determinants

(3) the application of business change techniques, in the improvement of those determinants.

Required:

(a) Discuss the meaning and inter-relationship of the terms (shown in bold type) in the above statement. Your

answer should incorporate examples that may be used to illustrate each term in BOTH profit-seeking

organisations and not-for-profit organisations in order to highlight any differences between the two types of

organisation. (14 marks)

5 (a) Objectives may be viewed as profit and market share in a profit-oriented organisation or the achievement of ‘value for money’in a not-for-profit organisation (NFP). The overall objective of an organisation may be expressed in the wording of its miss