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  • One of the critical point of decision making companies is how to best allocate limited resources. Efficient allocation of resources is an essential element in maximizing profits. Maximizing profit companies divide the property between competing investment alternatives (including new projects and ongoing operations). The budgeting process is central to the stewardship and monitoring functions of corporate accounting managers. Managers responsible for managing enterprise assets oversee the preparation and subsequent implementation of budgets. Annual budgets summarize not only the expected inflow of funds as assets will be spent on the basis of these expectations, but also the subsequent return on investment and financial situation. Annual budgets also deal with the criteria for evaluation management performance and the resulting rewards and sanctions. Following the importance of management accounting for companies this article deals with the literature review which includes current knowledge of management accounting, budgeting and Key Performance Indicators. Parmenter (2008) mentions an international survey of chief financial officers (CFOs) in 1998 by the U.S. consulting firm Hackett Benchmarking & Research which discovered that almost 90% of CFOs were dissatisfied with their budget process and that the annual budget was not linked to organizational strategy. He also indicates KPIs as a step in the right direction. According to O'Brien (2013) Key Performance Indicator is effective tool for budgeting to keep track of financial health. This measure also can be used to reduce unnecessary spending and to plan future spending.
  • One of the critical point of decision making companies is how to best allocate limited resources. Efficient allocation of resources is an essential element in maximizing profits. Maximizing profit companies divide the property between competing investment alternatives (including new projects and ongoing operations). The budgeting process is central to the stewardship and monitoring functions of corporate accounting managers. Managers responsible for managing enterprise assets oversee the preparation and subsequent implementation of budgets. Annual budgets summarize not only the expected inflow of funds as assets will be spent on the basis of these expectations, but also the subsequent return on investment and financial situation. Annual budgets also deal with the criteria for evaluation management performance and the resulting rewards and sanctions. Following the importance of management accounting for companies this article deals with the literature review which includes current knowledge of management accounting, budgeting and Key Performance Indicators. Parmenter (2008) mentions an international survey of chief financial officers (CFOs) in 1998 by the U.S. consulting firm Hackett Benchmarking & Research which discovered that almost 90% of CFOs were dissatisfied with their budget process and that the annual budget was not linked to organizational strategy. He also indicates KPIs as a step in the right direction. According to O'Brien (2013) Key Performance Indicator is effective tool for budgeting to keep track of financial health. This measure also can be used to reduce unnecessary spending and to plan future spending. (en)
Title
  • THE LITERATURE REVIEW OF KEY PERFORMANCE INDICATORS FOCUSED ON MANAGEMENT ACCOUNTING
  • THE LITERATURE REVIEW OF KEY PERFORMANCE INDICATORS FOCUSED ON MANAGEMENT ACCOUNTING (en)
skos:prefLabel
  • THE LITERATURE REVIEW OF KEY PERFORMANCE INDICATORS FOCUSED ON MANAGEMENT ACCOUNTING
  • THE LITERATURE REVIEW OF KEY PERFORMANCE INDICATORS FOCUSED ON MANAGEMENT ACCOUNTING (en)
skos:notation
  • RIV/70883521:28120/14:43872356!RIV15-MSM-28120___
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  • 26378
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  • RIV/70883521:28120/14:43872356
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  • rule 10/80/10; Key Performance Indicators; budgeting; management accounting (en)
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  • [3BFB2E17CF45]
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  • Zlín
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  • Mezinárodní Baťova konference pro doktorandy a mladé vědecké pracovníky
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  • Šocová, Vendula
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number of pages
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  • Univerzita Tomáše Bati ve Zlíně
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  • 978-80-7454-339-5
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  • 28120
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