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Founder/CEO at TrueValueMetrics developing Multi Dimension Impact Accounting
TrueValueMetrics Cambridge University
Greater New York City Area 500+ 500+ connections
I graduated from Cambridge University (Sidney Sussex College) with double majors in engineering and economics in 1961. Subsequently I qualified as a Chartered Accountant in London with Cooper Brothers & Co that over the years morphed into PriceWaterhouseCoopers. During my career, more than anything else I have learned of the immense power of data to enable change. My experience in the corporate world has been that management information systems are enabling change that results in high performance to the benefit of the company. Meanwhile, my experience with civil society and the public sector consulting with the World Bank, the United Nations and others is that the management information outside the corporate world is at best rudimentary and ineffective. In the end owners have done well but workers have not ... something conventional accounting does not measure.
With this experience, I am determined to do what I can to design and deploy a system of metrics that is significantly better than what has been used up to now ... something I call True Value Accounting (TVA) or Multi Dimension Impact Accounting (MDIA) The progress of this work is being summarized on the TrueValueMetrics website together with slidesets:
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0100-MainNav
A better system will be one where the basic double entry concept is expanded to include not only the money transactions internal to the economic activities of the organization but also the impacts that result from these economic activities. The same data should be able to inform decisions not only in corporate C-suites, but also in places and by people who are making daily 'buy or not to buy' decisions. As Peter Drucker has said 'You manage what you measure'. With these initiatives we will have coherent metrics for everything that matters. .
A better system will be one where the basic double entry concept is expanded to include not only the money transactions internal to the economic activities of the organization but also the impacts that result from these economic activities. The same data should be able to inform decisions not only in corporate C-suites, but also in places and by people who are making daily 'buy or not to buy' decisions. As Peter Drucker has said 'You manage what you measure'. With these initiatives we will have coherent metrics for everything that matters. .
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I graduated from Cambridge University (Sidney Sussex College) with double majors in engineering and economics in 1961. Subsequently I qualified as a Chartered Accountant in London with Cooper Brothers & Co that over the years morphed into PriceWaterhouseCoopers. During my career in corporate management, consulting and policy planning, more than anything else I have learned of the immense power of data to enable and manage change. My experience in the corporate world has been that management information is very powerful but has enabled profit improvement while ignoring everything to do with society and the environment, Other experience with NGOs, the public sector consulting with the World Bank, the United Nations and others is that the management information outside the corporate world is at best rudimentary and ineffective. Inadequate metrics has made it possible for owners to do very well while workers have not. Better metrics will change the way decisions are made and can change everything for the better.
With several decades of experience, including work in more than 50 countries, I am determined to do what I can to design and deploy a system of metrics that is significantly better than what has been used up to now ... something we call True Value Impact Accounting (TVIA). The progress of this initiative is presented on the TrueValueMetrics website ( http://truevaluemetrics.org )
TVIA complements initiatives like GRI, IR, SASB et al as well as complementing conventional double entry money accounting in order to get the maximum of power with the minimum of effort and cost. Concepts that are common in conventional accountancy are used within TVIA. At the same time TVIA provides accounting and accountability for ALL of capital rather than just financial capital, and enables reporting for EVERY possible reporting entity rather than merely investors and corporate organizations. TVIA uses multiple units of account to reflect the complex characteristics of the various elements of capital uses and avoids the use of market prices as a proxy for intrinsic value. TVIA also uses Standard Value Profiles to simplify accounting for value impact in the same way that conventional accounting uses Standard Costs to manage corporate operations.
The TVIA data architecture makes it possible inform decisions not only in corporate C-suites, but also in places and by people who are making daily 'buy or not to buy' decisions. As Peter Drucker has said 'You manage what you measure'. With these initiatives we will have coherent metrics for everything that matters and be in a position to make a better world for everyone
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I graduated from Cambridge University (Sidney Sussex College) with double majors in engineering and economics in 1961 and qualified as a Chartered Accountant in London During my career in corporate management, consulting and policy planning, I have learned of the immense power of data to manage change. Though very powerful, it has enabled improvement while of profit while ignoring everything to do with society and the environment, My experience with NGO, the World Bank, United Nations and others is that the management information outside the corporate world is inadequate and ineffective. The progress of this initiative is presented on the website ( http://truevaluemetrics.org )
TVIA complements initiatives like GRI, IR, SASB et al as well as complementing conventional double entry money accounting in order to get the maximum of power with the minimum of effort and cost. Concepts that are common in conventional accountancy are used within TVIA. At the same time TVIA provides accounting and accountability for ALL of capital rather than just financial capital, and enables reporting for EVERY possible reporting entity rather than merely investors and corporate organizations. TVIA uses multiple units of account to reflect the complex characteristics of the various elements of capital uses and avoids the use of market prices as a proxy for intrinsic value. TVIA also uses Standard Value Profiles to simplify accounting for value impact in the same way that conventional accounting uses Standard Costs to manage corporate operations.
The TVIA data architecture makes it possible inform decisions not only in corporate C-suites, but also in places and by people who are making daily 'buy or not to buy' decisions. As Peter Drucker has said 'You manage what you measure'. With these initiatives we will have coherent metrics for everything that matters and be in a position to make a better world for everyone
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TrueValueMetrics since 2008
TrueValueMetrics is an initiative developing True Value Impact Accounting (TVIA) to add a value dimension to conventional money profit accounting that is used in almost every business organization, and in a modified form in government entities and non-governmental organizations.
With TVIA the aim is for the reporting of impact on people and planet to be as rigorous as the reporting of money profit. TVIA has attributes in common with initiatives like 'triple bottom line reporting' and includes ALL of capital rather than simply financial capital. TVIA uses many of the concepts that make financial accounting such an efficient and powerful management tool, and now applies these to getting the best progress and performance for the whole of the global socio-enviro-economic system, rather than simply optimization for investors and the organizations they own.
Information about TVIA may be accessed via this URL:
http://www.truevaluemetrics.org/
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