What is performance? ICAS discussion paper and call for research

This discussion paper addresses the concept of corporate performance and how it is reported, raising questions for debate and future research.

Attempting to define and report on corporate performance continues to exercise the minds of standard setters, regulators, preparers and users of corporate reports.

Performance has traditionally been seen as ‘financial performance’, represented by the income statement.  But as business structures, transactions and financial reporting standards (including the use of a mixed measurement model) have become more complex, the notion of ‘performance’ has become more difficult to define and assess.

It has also called into question whether performance can really be captured in a single figure or even in the financial statements alone.

The objective of this ICAS paper is to frame and move the debate on performance forward rather than to seek to answer or resolve the issues.

The central argument is that we need to take a more holistic view of performance and look at how financial and non-financial information can be joined together more effectively.

The paper also calls for research funding applications for projects addressing the topic of performance.  The deadline for applications has been extended to 21 October 2016 – for further information contact research@icas.com.

What is performance?

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  • Corporate and financial reporting

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