Performance evaluation and control-decision making process
Write down a short note on the Performance evaluation and control in decision making process?
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Performance evaluation and control: Management accounting information can assist in reviewing the performance of the business adjacent to agreed criteria. The non-financial indicators are rousingly employed to compute performance, all along with financial indicators. The controls require being in place to make sure that actual performance verifies to plan performance. The actual outcomes will, thus, be compared with plans to see whether the performance is better or inferior than predicted.
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
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