THE BUCHAREST UNIVERSITY OF ECONOMIC STUDIES Council of Doctoral Studies Business Administration Doctoral School SUMMARY OF THE DOCTORAL THESIS

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1 THE BUCHAREST UNIVERSITY OF ECONOMIC STUDIES Council of Doctoral Studies Business Administration Doctoral School SUMMARY OF THE DOCTORAL THESIS entitled ORGANIZATIONAL PERFORMANCE MEASUREMENT AND REPORT- ING IN THE CONTEXT OF NEW BUSINESSRULES PhD supervisor: Prof. Univ. Dr. Rodica Pamfilie PhD student: Dipl. Kaufmann Klaus Singer a) CONTENT LIST OF ABBREVIATIONS LIST OF FIGURES LIST OF TABLES ABSTRACT INTRODUCTION 1. PRESENT APPROACHES AND TENDENCIES IN MESURING ORGANISATIONAL PERFORMANCE 1.1. Defining and Approaching Ways of Measuring Organisational Performance An up-to-date Image of Industrial Organization A modern approach - Resource Based View Basic Aspect of the Organisation - Operations Management 1.2. Measuring of organisational performance by applying Key Performance Indicators Key performance Indicators for performance measurement Key performance Indicators for non-financial performance and measurement of sustainability Key Performance Indicators and impact of digitalization 2. BEST STRATEGIES IN REPORTING ON ORGANISATIONAL PERFORMANCE 2.1. Reporting on Business Performance Reporting overview and basic approach 1

2 Reporting on performance Reporting through notes and other reports 2.2. Reporting on non-financial Performance Development of non-financial reporting within the EU Overview New EU Directive and development of reporting on non-financial information New EU Directive for CSR Main Targets and content 2.3. Integrated Reporting Holistic view on company performance Integrated Reporting - Overview Integrated Reporting - Impact on reporting and company s organization Integrated Reporting Outlook on company reporting 3. SELECTED ACCOUNTING RULES UNDER ACTUAL IFRS KNOWLEDGE IN THE FIELD 3.1. Accounting for fixed assets Fixed assets accounting - content and overview Capitalization of fixed assets and other available information on fixed assets for stakeholders for performance measurement Evaluation and revaluation of fixed assets 3.2. Ways of revenue recognition Revenue recognition - Full overview Revenues and changes for performance measurement Information to be provided to Stakeholders 4. CONSIDERING EUROPEAN UNION ANTI- MONEY LAUNDERING DIRECTIVE 4.1. Background and purpose of the 4th Anti-Money Laundering Directive Background and need for a new Anti-Money Laundering Directive Design and prospects of the new Anti-Money Laundering Directive 4.2. Overview of ways to strengthen measures against money laundering An approach based on talking the risk and waiver for E-Money-Products Central register of beneficial ownership and focus on Political Exposed Persons 4.3. Conclusion and impact on performance measurement and reporting Performance measurement impacted by the directive Conclusion on the Directive 2

3 5. IMPACT ON PERFORMANCE MEASUREMENT AND REPORTING BY NEW BUSI- NESS RULES 5.1. Property, Plant and Equipment New rules overview Effective date, outlook and new rules to be applied Accounting for fixed assets for Small and Medium Sized Enterprises Impact of changes on performance measurement 5.2. Revenues from contracts with customers New rules Complete overview and content The new Five-Step-Model of revenue recognition Impact of changes on performance measurement 5.3. Low interest environment within the EU and impact on KPIs Development of discount rates in the EU and impact on reported values The new German rule in Comparison to IFRS and tax law The impact on KPIs by applying new rules for pension obligation 5.4. Company reporting on non-financials - EU Directive concerning CSR Non-financial Key Performance Indicators to be reported CSR- Actual situation and impact on German companies Associating financial with non-financial reporting Integrated Reporting 5.5. Current development of company reporting Development of company reporting towards modernized stakeholder informing Increased non-financial reporting Content and discussion on CSR and sustainability The Future of performance reporting Development of a sustainable good reporting model 6. EMPIRICAL EVIDENCE OF THE KNOWLEDGE AND IMPACT OF NEW STAND- ARDS ON KEY PERFORMANCE MESUREMENT, REPORTING AND COPMANY OR- GANNIZATION 6.1. General context of the empirical research Empirical research on the knowledge of companies regarding performance measurement and reporting Empirical research on changes in revenue recognition and performance reporting 6.2. Objectives and research methodology Objectives of the researches Methodology of the researches 3

4 6.3. Research results on performance measurement and Key Performance Applied Indicators General Data Results on the empirical research Conclusion on the empirical research Results and Changes of performance measurement Case study Conclusion on the impact of Changes on performance measurement Case study 7. SUGGESTIONS REGARDING IMPROVEMENT FOR REPORTING ORGANIZATION- AL PERFORMANCE AND PERFORMANCE EVALUATION AND MEASUREMENT 7.1. Suggestion for improving evaluation and measurement of performance 7.2. Suggestion for improving organizational performance reporting CONCLUSION ACKNOWLEDGEMENTS BIBLIOGRAPHY LIST OF ANNEXES 4

5 b) KEY WORDS Performance measurement, organizational performance, company reporting, Corporate Social Responsibility (CSR), Sustainability c) SYNTHESIS OF THE MAIN PARTS OF THE THESIS The PhD thesis combine inside with outside views on company performance and out-lines the importance of adapting KPIs due to changes in rules and regulations to maintain a proper performance measurement. Companies measure their performance carefully to get decision useful information. Information reported to stakeholders has a reduced content compared to information accessible by company s management. This gap induces that stakeholders have not all necessary information for making quality decisions. The demand of stakeholders for information changed, so that company reporting must develope. Based on research this thesis develops a new set of requirements of a good modern sustainable reporting. Accuracy of used KPIs in performance measurement is due to the quality of the input factors. Rules and regulations that must be respected by companies are perpetual changing. Modified rules and regulations have an impact on performance measurement. KPIs vary even if the performance is steady due to changed composite of the input factors used in the ratios. Based on the empirical research the knowledge in that respect was identified. This thesis reveals areas of necessary amendments on used KPIs in performance measurement due to changed rules and regulations. 5

6 Curriculum Vitae German CPA (WP), CIA, CRMA, CFE and Certification for Quality Review Klaus Singer Personal Details: Address: Am Erlenbach Neu-Isenburg, Germany Mobil: Date of Birth: 21. October 1969 Nationality: German Marital status: married, one child 6

7 1. Work Experience: Since Mazars GmbH & Co. KG, Frankfurt/Germany. Senior Manager and Director responsible for audit, business development, acquisition of new clients, financial due diligence, forensic services and internal audit. Major clients in the production industry especially automotive sector PricewaterhouseCoopers AG, Frankfurt/Germany. Manager in the Head office of PwC in Germany. Assurance and Compliance audits (including SOX 404 compliance audits) for clients in various industries mainly referred-work-in from the USA Ernst & Young AG, Frankfurt/Germany. Auditor of companies in various industry sectors (consumer, automotive), Internal Auditor and participation in financial due diligence and various valuation projects NALCO-Chemie Deutschland GmbH, Biesbesheim and Frankfurt/Germany. Interim Assistant Manager Accounting Various Internships. 2. Study: Johann Wolfgang Goethe-University Frankfurt:Study of Economics. Degree:Diplom-Kaufmann Thesis (diploma): Valuation of Immaterial Assets Philipps-Universität Marburg: Study of Economics. Degree: Vordiplom in Economics 3. Education: Military Education Ulm and Würzburg Abitur (equivalent to English A-Levels) 4. Skills and Additional: Additional Qualifikation: Language Skills: Computer Skills: Publication: German Public Auditor (Wirtschaftsprüfer) Certified Fraud Examiner (CFE); Certified Internal Auditor (CIA) Certification in Risk Management Assurance (CRMA) Certified Peer Review auditor (Quality Control) German and English fluent written and spoken MS-Office, Lotus notes, SAP R/3 (FI) Various publications on IFRS Frankfurt, Thursday, 28 June