Management Accountancy Accounting, Finance, SPSS Term Paper (Term Paper Sample)

Management Accountancy
Table of Contents Page No.Introduction…………………………………………………………………………………..3Analysis…………………………………………………………………………………….3-12Conclusion…………………………………………………………………………………12References……………………………………………………………………………………13-14
IntroductionThe report is prepared for the purpose of knowing how the system of performance management affects the organization ethical behavior and culture. The performance measures which will have an impact that is good on the management behavior. The financial and non-financial measures is evaluated for achieving the outcomes that is desired that is it can align with the outcomes of the shareholders. The report is prepared for National Storage Australia. Performance management can be defined as the set of activities which helps in ensuring that the goals of the organization are met in a manner that is effective and efficient. Performance management helps in focusing on the organization performance, an employees, a department, or in place the processes to manage a specific tasks.AnalysisPartAPerformance Management link with the ethical BehaviorPerformance management is sometimes confused with the concept of performance appraisal, it is considered as a process of the performance evaluation of the workforce and review and feedback are involved in the performance of the employee job (Franco‐Santos, 2018). Three more steps are involved in the process of accomplishment and they are performance interview, the achievement of performance data and appraisal data use. Along with the feedback these three activities are the process essence, if it is carried out in an organized way, the process can be termed as a system of performance management. As a system of communication, it helps in assisting the employees for success, the direction is not only required, from the managers and supervisors to end, the employees should participate actively. The employees should be aware of their functions of the job, the awareness of the expected level of performance, getting feedback on the performance on a constant level, opportunities should be created for training and development, performance and reward ratings should be done in a manner which is fair and just.The culture of the organization can have an effect on the performance of the employee on a positive basis and the levels of motivation. Hard work is done by the employees for achieving the goals of the organization if the employees consider them as part of the organization's environment. The operation of different cultures in one company may impact the performance of the employee. An area should be allowed to set their own culture which will affect the performance of the employees in the company deployed elsewhere. The recruitment process of the organization should be structured in such a manner that helps in attracting and incubating the employees with the same beliefs and values that represent the culture of the organization (Perera, 2017). This helps in the assimilation of the new employees to the organization and the corporate culture is further strengthening. It must be ensured by the company that it aligns the organization culture with the performance management system. When the system of culture and management are not aligned, the management should try to redirect them so that the results of the employee behavior in the achievement of the organizational goals.One of the ways is performance management for driving the changes that are sustainable as it helps in providing an opportunity that is regular for managers to reflect on their behavior and how the results are achieved. If the performance management system is considered as unfair, or the process is managed poorly, the company behavior is induced and the excuse is made by the employees for rationalizing their unethical conduct. In the process of performance management system the values and ethical behavior can be incorporated and they are by taking the support from the senior management, a willingness is included to be judged by how they help in achievement of the company goals, a good relationship should be built between the functions of HR and ethics and compliance which helps in ensuring good content and design, clarity about the expected employees behavior and all managers should be trained adequately in appraising potential the matters which are subjective (Pandey, 2015). The understanding helps in minimizing the biased role in judging the behavior of ethics.360-degree feedback is one of the tools which can be used as an input in the process of appraisal. When feedback is given, training can be given to the people to point out how the behavior of someones has affected them rather than expressing an ethical judgment which is subjective about that person.Remuneration Governance of National Storage AustraliaThe activities of the remuneration committee are governed by its charter. The remuneration committee responsibilities include remuneration policies. They are formulated, recommended and apply to the managing directors of the company, directors who are non-executive and senior executives. The specific remuneration package is formulated for the executives in senior position, the contractual rights are reviewed for senior executive termination, the company appropriateness is reviewed for the successive planning policies, the recommendation of the management is reviewed of the awards that are proposed total of STI and LTI, the awards of STI and LTI are administered, the recommendation of the management is reviewed regarding the framework of the remuneration for the organization as a whole. The remuneration committee deliberations, including any issues of the recommendation of the remuneration made, by the Board of NSH are considered. The recommendation is made to the board regarding the trends of remuneration for KMP. The advisors of independents who are independent various factors are considered including the responsibilities that are specific by KMP which are assumed. An independent consultant, Crichton associates were engaged for carrying out the directors and senior executive’s structure of remuneration and current remuneration and a market structure summary is provided for the remuneration of the executive and structures of remuneration. The committee of the remuneration comprises three non-executive directors that are independent and by Laurence Brindle, it is chaired. During the period of reporting the committee on remuneration met four times.The principle used for determining the amount and remuneration natureThe remuneration policy objective is for ensuring that the remuneration of the Group is competitive, the officer's responsibilities are reflected and ensure that NSR can easily attract and executives are retained and the director's skill and capabilities required to deliver sustainably the NSR'S objectives.The director's remuneration and the executives in senior positions by the committee of the remuneration are reviewed annually and the NSH full board.