Cost Accounting (15th Edition)

Published by Prentice Hall
ISBN 10: 0133428702
ISBN 13: 978-0-13342-870-4

Chapter 23 - Performance Measurement, Compensation, and Multinational Considerations - Assignment Material - Questions - Page 899: 23-2

Answer

The three steps in designing accounting-based performance measures are as follows: 1. Choose Relevant Measures: Select performance measures that align with top management's financial goals. 2. Define Measure Details: Specify the time horizon and components of each measure. 3. Set Targets and Feedback: Establish performance targets and feedback mechanisms for each measure to monitor progress.

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