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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

Briefly explain why firms might use nonfinancial performance measures.

To determine

Explain the reason behind the uses of nonfinancial performance measures by the firms.

Explanation

Nonfinancial performance measures: Expressing a performance in terms of measures other than the dollars is known as nonfinancial performance measures. In order to evaluate the time, quality, or quantity of a business activity these measures are used.

Following are the reasons behind the uses of nonfinancial performance measures by the firms:

  • Expressing a performance in terms of measures other than the dollars is known as nonfinancial performance measures. Because there are some performance that cannot be measured in terms of monetary units, but those performances are very important for running of a successful business...

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