Companies are increasingly attempting to replace or expound product-orientated strategies by customerorientated
strategies. For this reason, the quantification of customer relations within the scope of the
balanced scorecard is increasingly achieving significance as an implementation instrument for strategies
and as a supplement to classic product profitability analysis.
Today, within the era of globalisation, the recognition and evaluation of intangible assets according to
IAS/IFRS or rather of human capital is on the agenda, at least since January 1st, 2005. Nevertheless,
human resource accounting is a rather young research area, which still has to prove itself. In practice
this is considered as a challenge. Business teams in companies are beginning to face this finance - and
capital market-oriented as well as personnel management task.
After reading chapter 12, you should be able to: Discuss the connection between incentive pay and employee performance, describe how organizations recognize individual performance, identify ways to recognize group performance, explain how organizations link pay to their overall performance,...
Chapter 17 - Workforce: Optimizing human capital. After reading the material in this chapter, you should be able to: Describe how the workforce contributes to profitability, explain how expectations for employees are increasing, explain the impact the workforce has on value, use the customer experience grid to describe the relationship between customers and employees,...
“Creating value through values” is the credo of today’s management accountant. It means that management
accountants should maintain an unwavering commitment to ethical values while using their
knowledge and skills to influence decisions that create value for organizational stakeholders. These
skills include managing risks and implementing strategy through planning, budgeting and forecasting,
and decision support. Management accountants are strategic business partners who understand the
financial and operational sides of the business.
The personnel costs shall be calculated on the basis of the actual daily salary of the employee,
multiplied by the number of days devoted to the action. Where applicable, this figure will
include all the usual contributions paid by the employer, such as social security contributions,
but shall exclude any bonuses, incentive payments or profit-sharing schemes.
The Personnel costs shall be substantiated by detailed timesheets of the work done declared in
the Final Report.