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| Finance Management |
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Financial Performance Management is aimed at measuring, analysing, monitoring and controlling the financial performance of an organisation, department, team or even a single person. Depending on the type of organisation, the purpose of financial performance management can be achieved in different ways, such as:
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Measuring performance on the basis of budgets or other Financial targets |
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Designing a model of multiple financial and non-financial performance indicators (often called a balanced score card) |
It is important to realise that Financial Performance Management has a strong influence on the behaviour of people in the organisation. If, for example, the performance of an organisation is measured on the basis of budgets that are set annually, then people will focus on achieving the annual budget, even if this has a negative impact on the financial performance in subsequent years, or even on the performance of the entire organisation. Therefore, it is important for an organisation to thoroughly think through their Financial Performance Model.
Consultants of Accent Consultancy have the knowledge and experience needed to help organisations (re-)design and implement their financial performance framework. We can provide assistance in implementing financial budgeting and forecast models, cost allocation models and financial management information.
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