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Monitoring Performance |
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The Board and senior management monitor the performance of
all Divisions through the preparation of monthly management
accounts. The monthly management accounts are prepared using
accrual accounting techniques and report each business
unit’s result as contribution after overhead allocation.
These monthly management accounts are compared to monthly
budgets, which have been set allowing for the seasonality of
anticipated revenues and costs in each of the Divisions.
Each Division has key performance indicators and reports to
identify revenue and sales performance on a timely basis at
least each month. The identification of completed sales and
the revenue earned and future trends in sales and revenue is
a key driver of the success of the BSA Group.
The monitoring of the Company’s performance by the Board and
management assists in identifying the correct allocation of
resources and staff to maximise the overall return to
share¬holders.
During the year the Board embarked on a performance review
process including committees, managed by the chair of the
REM committee and the Chairman of the board.
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