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Meaningful Metrics for a Smart Society
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Date: 2019-09-17 Page is: DBtxt001.php txt00003497

For more on this contact Peter Burgess ... peterbnyc@gmail.com
Follow on Twitter @truevaluemetric
http://www.truevaluemetrics.org


Core Concepts of TrueValueMetrics
There is a much more complete description of the concepts of TrueValueMetrics on the website

The main metrics in the modern economy are based on money profit accounting and related economic statistics like Gross Domestic Product (GDP). This are inappropriate measures and need to be changed.

Many initiatives have emerged to expand reporting to include metrics beyond profit ... like impact on people and planet, the so called triple bottom line. These initiatives are a good start, but are not getting the traction that is needed.

A somewhat different initiative is needed that incorporates both money profit accounting and accounting for social valuadd into a single framework of accounting and reporting that relates state, progress and performance in an integrated fashion.

The system should be the same for both the organization undertaking an economic activity and the broader community that gets impact from economic activity. The consolidation or roll up of the progress and performance of an economic activity should roll up to both an organization and to a place.

The system should be based on concepts of accounting more than those of economics and statistics. Specifically the idea in accounting of double entry and the formal integration of balance sheet and operating statement.

TrueValueMetrics also makes it possible to bring accountability to organizations that do not want to engage with the so-called externalities of their activities.



The text being discussed is available at
http://www.truevaluemetrics.org

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TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative. It has been funded by family and friends plus donations from well wishers who understand the importance of accountability and getting the management metrics right. TVM is a 'big idea' that has the potential to be a game changer leveling the playing field so the wealth and power is shared on a more reasonable basis between people who work for a living and those that own the economy and the levers of power. In order to be effective, it cannot be funded in the conventional way with a for profit business plan, but absolutely must remain an open access initiative.
WE WANT TO MAINTAIN AN OPEN KNOWLEDGE MODEL
A MODEST DONATION WILL HELP MAKE THAT HAPPEN


The information on this website may only be used for socio-enviro-economic performance analysis, personal information, education and limited low profit purposes
Copyright © 2005-2019 Peter Burgess. All rights reserved.