Focus on the 'bottom line'; non-financial performance measures; 3 management functions
1. What deficiencies, if any, are there when companies management decisions only consider the effect of the "bottom line"? Provide an example from your accounting experiences if possible.
2. What are some non-financial performance measures?
What do they tell us about the performance of an organization?
Why is it important for managers to include non-financial performance standards in their analysis of their operations?
3. Describe the three broad functions that manager's activities and responsibilities are classified into and provide an example that you are familiar with in each of these functions