Measuring and evaluating performance is important to managers.They need to explore how individual and performance measures and other measures can be combined to create a better tool for measuring past performance and driving the future achievement of strategic goals.
Required:
Define the following terms and give one example of each that you can use in your accounting class.
a.Lagging indicator
b.Leading indicator
c.Nonfinancial measure
d.Benchmarking
e.Best practices

Question

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The Answer of Measuring and evaluating performance is important to managers.They need to explore how individual and performance measures and other measures can be combined to create a better tool for measuring past performance and driving the future achievement of strategic goals.
Required:
Define the following terms and give one example of each that you can use in your accounting class.
a.Lagging indicator
b.Leading indicator
c.Nonfinancial measure
d.Benchmarking
e.Best practices

Measuring and Evaluating Performance Is Important to Managers