Key performance indicators or KPI
What do you mean by the term key performance indicators or KPI? Explain in brief?
Expert
Key performance indicators or KPIs: These comprise the traditional financial measures like return on capital used. KPIs now, though, usually comprise a significant proportion of non-financial indicators to aid assess the prospects of long-term success. To assist decision making, the management accountant has rousingly shouldered responsibility for reporting the non-financial measures concerning quality, product innovation, product cycle times, delivery times and so forth.
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Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
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