5 A management accounting focus for performance management in an organisation may incorporate the following:
(1) the determination and quantification of objectives and strategies
(2) the measurement of the results of the strategies implemented and of the achievement of the results through a
number of determinants
(3) the application of business change techniques, in the improvement of those determinants.
Required:
(a) Discuss the meaning and inter-relationship of the terms (shown in bold type) in the above statement. Your
answer should incorporate examples that may be used to illustrate each term in BOTH profit-seeking
organisations and not-for-profit organisations in order to highlight any differences between the two types of
organisation. (14 marks)
