METRICS really do matter. Conventional accounting is very powerful, but it only addresses the matter of transactions where money is the measure, while ignoring everything else, including all externalities and some very important aspects of quality of life and stress on the environment. This slideset introduces TRUE VALUE ACCOUNTING.
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TVA p3-01 METRICS MATTER ... INTRODUCTION TO TVA
1. TRUE VALUE ACCOUNTING
File: TVA-p3-01-METRICS-MATTER-Introduction-to-TVA-151102.odp Peter Burgess (c) All rights reserved
Metrics Matter
Introduction to
True Value Accounting
a TrueValueMetrics Initiative
2. CONTEXT
This slideset is a Work-in-Progress
and will be updated from time to time.
It is part of a series that aims to
describe the extremely complex
socio-enviro-economic system that
we live in, and how better metrics will
make this system work better.
TRUE VALUE ACCOUNTING
3. TRUE VALUE ACCOUNTING
File: MDIA-p3-0-TVA-INTRODUCTION-150912.odp Peter Burgess (c) All rights reserved
Peter Drucker, a well known
management guru famously said:
“You can't manage
what you don't measure”
4. Metrics are VERY powerful, but
they must be used to measure
the right things in order to get
the right results.
TRUE VALUE ACCOUNTING
5. Modern KNOWLEDGE of
science and technology is
amazing … but in contrast the
performance of society leaves
much to be desired
TRUE VALUE ACCOUNTING
More on KNOWLEDGE …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#7
6. There are hundreds, if not
thousands of ISSUES to be
addressed …
TRUE VALUE ACCOUNTING
More on ISSUES …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#11
7. There are many IDEAS and
INITIATIVES … but very few
gets much traction …
TRUE VALUE ACCOUNTING
More on IDEAS and INITIATIVES …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#10
8. True Value Accounting is an
initiative to address the issue
of ineffective metrics for
important things like
happiness and sustainability.
TRUE VALUE ACCOUNTING
9. GDP growth, corporate profit
and stock market rise are
metrics that might be good for
investors, but ignore almost all
the things that really matter …
TRUE VALUE ACCOUNTING
10. … and MONEY as the Unit of
Measure is another source of
systemic dysfunction …
TRUE VALUE ACCOUNTING
More on money and the financial economy …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#4
13. So … every time something big
happens, the money measure
that we routinely use changes
in size … there has to be a
better way!
TRUE VALUE ACCOUNTING
14. In the modern world, money is
the most important metric for
policy formulation, decision
making and performance
measurement … yet it is
changing size all the time ...
TRUE VALUE ACCOUNTING
15. Worse … macro-economic
measures, conventional
accounting, and financial
analysis ignore far too many
things that really matter …
TRUE VALUE ACCOUNTING
16. PEOPLE matter …
The true purpose of economic
activity is to enable a high
standard of living and a good
quality of life for people …
TRUE VALUE ACCOUNTING
More on the PEOPLE economy …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#2
17. PEOPLE also matter because it
is human energy and intellect
that has enabled the progress
of humankind over the
millennia and is ongoing …
TRUE VALUE ACCOUNTING
18. PEOPLE are going to make
important decisions about
what will happen in the future
… though NATURAL LAWS are
going to be the ultimate
determinant of the outcomes.
TRUE VALUE ACCOUNTING
19. PRODUCTS … goods and
services ... satisfy PEOPLE's
needs. They link People, Man
Built Capital and the Natural
Capital of the system
TRUE VALUE ACCOUNTING
More on PRODUCTS … the consumption economy …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#6
20. PROCESS makes PRODUCTS.
Efficiency of processes is a
factor in the live cycle impact
of products.
TRUE VALUE ACCOUNTING
More on PROCESS … the technology of the economy …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#5
21. PLACE matters …
People live in a place
Companies have factories in a place
Pollution happens in a place
Eco-system services are in a place
Place is good for accountability
Place is for ever
TRUE VALUE ACCOUNTING
More on PLACE …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#9
22. NATURE matters … it is the
foundation for everything …
all WEALTH has its origin in
the Natural Capital that there
is on this PLANET.
TRUE VALUE ACCOUNTING
More on NATURAL CAPITAL …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#3
23. SUSTAINABILITY is a lot more
than a fashionable phrase …
without NATURE's services,
human life as we know it will
end …
TRUE VALUE ACCOUNTING
More on SUSTAINABILITY …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#3A
24. GOVERNANCE and the
Enabling Environment of Law,
Security, Companies, Banks,
Institutions, Universities, etc.
are important …
TRUE VALUE ACCOUNTING
More on GOVERNANCE and the Enabling Environment
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#8
25. COMPANIES have an ability to
amazing things … the challenge
is for this capacity to be used
so ALL stakeholders benefit.
TRUE VALUE ACCOUNTING
More on COMPANIES …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#8A
26. The Enabling Environment
also includes PHYSICAL
INFRASTRUCTURE and
essential services
TRUE VALUE ACCOUNTING
More on INFRASTRUCTURE ...
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#5B
27. TRUE VALUE ACCOUNTING is an
initiative to put metrics around
all of these things … around
everything that is important …
TRUE VALUE ACCOUNTING
More on metrics for management …
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#1
28. The essential characteristic of
a good unit of measure is that
it is always the same …
In the USA, the National Institute for Standards
and Technology (NIST) is an authority in this
regard … see:
http://physics.nist.gov/cuu/Units/current.html
TRUE VALUE ACCOUNTING
29. TVA is an an extension of
conventional double entry
accounting and uses many of
the established principles …
TRUE VALUE ACCOUNTING
30. TVA does for Society, the
Environment and the Future
what prevailing metrics have
done so well for investors and
those engaged in banking and
finance.
TRUE VALUE ACCOUNTING
31. REMINDER
This slideset is A WORK-IN-PROGRESS. It will be
upgraded periodically. It is part of a series of more than
100 slidesets. Navigation to these is available here:
FEEDBACK is welcome. Please email to Peter Burgess …
peterbnyc@gmail.com … with a catchy phrase in the
subject line so that it gets attention, and please identify
the specific slideset(s) involved.
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=N1-Slidesets-p3
TRUE VALUE ACCOUNTING
32. THANK YOU
Some links and contact information:
Email Peter Burgess … peterbnyc@gmail.com
Peter Burgess LinkedIn profile
https://www.linkedin.com/in/peterburgess1
Link to TrueValueMetrics.org website
http://www.truevaluemetrics.org/
Link to navigation to other resources:
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav#1
TRUE VALUE ACCOUNTING