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The Relevance of Cost-Value-Performance Trinom for Organization Management

Author

Listed:
  • Mihaela (ȘTEFAN) HINT

    (“1 Decembrie 1918” University, Alba Iulia, Romania)

Abstract

A large number of economic entities follow several objectives that characterize some aspects of their organization. But they have only one fundamental objective and the performance measurement depends on a good definition of performance. In order to achieve their goals in a continuous and profitable manner, organizations need to equip themselves with structures that entrust responsibility centers with various things to do. The administrative accounting has as its objectives the knowledge of the costs related to the functions of the economic entities, the determination of the bases for the valuation of certain elements of the balance sheet and the calculation of the cost of production in order to compare it with the selling price in order to determine the efficiency of the business, and on the other hand, cost forecasting to determine actual cost deviations, as well as providing all necessary information for decision-making on the management of internal work.

Suggested Citation

  • Mihaela (ȘTEFAN) HINT, 2022. "The Relevance of Cost-Value-Performance Trinom for Organization Management," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 3(7), pages 55-61, July.
    • Handle: RePEc:ahd:journl:v:3:y:2022:i:7:p:55-61
    DOI: 10.37945/cbr.2022.07.06
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    References listed on IDEAS

    as
    1. Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
    2. Răzvan-Dorin BURZ, 2013. "Conceptul De Performanță," Management Intercultural, Romanian Foundation for Business Intelligence, Editorial Department, issue 28, pages 21-28, August.
    3. repec:cmj:journl:y:2013:i:28:burzrd is not listed on IDEAS
    4. Tone, Kaoru, 2001. "A slacks-based measure of efficiency in data envelopment analysis," European Journal of Operational Research, Elsevier, vol. 130(3), pages 498-509, May.
    5. Răzvan-Dorin BURZ, 2013. "The Concept Of Performance," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 1, pages 255-261, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    managerial accounting; cost; value; performance; binomial value-cost; performance-value-decision;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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