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: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
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Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.
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What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.
Common Data Source: All of the programmatic and financial information available for the cost, budgetary, and financial accounting processes. This comprises all financial and much non-financial data, like environmental data, which are
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