An approach to management integrating both financial and non-financial performance measures into a comprehensive framework developed by Professors Kaplan and Norton.
Performance measurement involves developing indicators to assess progress towards predefined goals and reviewing performance against these measures. It can be applied to an entire organization or specific departments, branches, or individuals, utilizing both financial and non-financial measures.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.