Date: 2024-04-28 Page is: DBtxt003.php txt00005739
MDIA - Multi Dimension Impact Accountancy Introduction
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What is MDIA?
Multi Dimension Impact Accounting (MDIA) is an initiative for radical reform of the systems of metrics being used to report on business, politics, the economy and society. The prevailing metrics do not work. The terrible trio of (1) money profit for business; (2) capital market prices for investors; and, (3) GDP growth for policy makers gives incentive to only one part of the socio-economic system. Maximizing for the performance of the business organization and its owners is only one dimension of what is needed for sustainable progress. A better system must be as rigorous for all the elements of the Triple Bottom Line ... people, planet and profit ... as enterprise accounting is for profit alone. A better system must have a focus not only on the organization, but also on people, place and products. This requires quantification of value, which is difficult but can be done using a system of standard values rather like standard costs in cost accounting. A critical feature of the system is that it will summarize easily and be easy to drill down to granular information for decision making that will facilitate changed behavior. An economic activity is the focal point of data incorporating both money transactions and value flows. An economic activity is located in a place, uses and produces products, is implemented by an organization, financed by individuals or organizations, and impacts directly both people and planet. MDIA aggregates data to inform about the performance of an organization with respect to profit, people and planet. This is a natural evolution of the existing money profit accounting and the various initiatives for sustainable reporting. The system uses the equivalent of double entry accounting architecture to account for and report on state, progress and performance. Change in state
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Next steps
The system concept is complete and is now being converted into a framework that will work with Smart mobile interfaces and Cloud Data. Work is progressing in parallel to develop the standard values and make various modules to suit different types of economic activity. |
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Founder / CEO ... TrueValueMetrics Peter Burgess
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LinkedIn for Peter Burgess www.linkedin.com/in/peterburgess1/
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Peter Burgess ... Brief Bio
Did engineering and economics at Cambridge. Subsequently trained with Coopers and Lybrand in London to become a Chartered Accountant. Worked in the corporate sector using management accounting to drive profit performancce improvement. Did time as VP manufacturing as well as being CFO of a US based international company. Subsequently became an independent management consultant and did series of assignments for World Bank, IFC, UN agencies and private industry in more than 50 countries over a period of years. This work ranged from Ministry level work on national level and sector level planning to field work with refugees and displaced people in areas affected by war or natural disaster. |
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Next steps The system concept is complete and is now being converted into a framework that will work with Smart mobile interfaces and Cloud Data. Work is progressing in parallel to develop the standard values and make various modules to suit different types of economic activity. |
What is MDIA? Multi Dimension Impact Accounting (MDIA) is an initiative for radical reform of the systems of metrics being used for business, politics, the economy and society. The prevailing metrics do not work. The terrible trio of (1) money profit for business; (2) capital market prices for investors; and, (3) GDP growth for policy makers gives incentive to only one part of the socio-economic system. Maximizing for the performance of the business organization and its owners is only one dimension of what is needed for sustainable progress. A better system must be as rigorous for all the elements of the Triple Bottom Line ... people, planet and profit ... as enterprise accounting is for profit alone. This requires quantification of value, which is difficult but not impossible, and will be done using a system of standard values rather like standard costs in cost accounting. A critical feature of the system is that it will summarize easily and be easy to drill down to granular information for decision making that will facilitate changed behavior. An economic activity is the focal point of data incorporating both money transactions and value flows. An economic activity is located in a place, uses and produces products, is implemented by an organization, financed by individuals or organizations, and impacts directly both people and planet. MDIA aggregates data to inform about the performance of an organization with respect to profit, people and planet. The system uses the equivalent of double entry accounting architecture to account for and report on state, progress and performance. Next steps The system concept is complete and is now being converted into a framework that will work with Smart mobile interfaces and Cloud Data. Work is progressing in parallel to develop the standard values and make various modules to suit different types of economic activity. Founder / CEO ... TrueValueMetrics Peter Burgess Address: 204 Seaham Court Bushkill PA 18324 USA Telephone mobile: 212 744 6469 landline 570 431 4385 Email: peterbnyc@gmail.com Skype: peterburgessnyc LinkedIn for Peter Burgess www.linkedin.com/in/peterburgess1/ Twitter: @truevaluemetric @peterbnyc Blogs: http://truevaluemetrics.blogspot.com http://communityanalyticsca.blogspot.com Print on Demand Books: Search Peter Burgess at www.lulu.com - See more at: http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=txt00005739#sthash.aTHO73go.dpuf