Managerial Accounting - Assignment

Added on - 28 May 2020

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Running head:MANAGERIAL ACCOUNTINGManagerial AccountingUniversity NameStudent NameAuthors’ Note
2MANAGERIAL ACCOUNTINGExecutive SummaryThe current piece of work presents a thorough analysis of remuneration strategy in Australiawith special reference to the operations of the firm Westpac Banking Corporation (WBC).This helps in gaining understanding regarding executive pay and remuneration and exploresdifferent measures of performance. This segment presents details of the performancemeasures that are utilized in the firm Westpac Banking Corporation (WBC) and appraises theyardsticks and scorecards together with the utilization of different non-financial measures.Thereafter, this study also reassesses the available company literature presented in the annualreport to study varied aspects of dimensions and methods used as yardsticks and scorecardsfor analysis of executive pay. Thus, this study acquires several details about the dimensionsused. Furthermore, the study also presents media reports and perspectives of analysts toinvestigate any kind of public discussion about the remuneration of the pertinent executive.
3MANAGERIAL ACCOUNTINGTable of ContentsIntroduction................................................................................................................................4Review of topic:.........................................................................................................................4Review of literature:...................................................................................................................5Conclusion................................................................................................................................10References................................................................................................................................11
4MANAGERIAL ACCOUNTINGIntroductionThe current study presents a thorough analysis of the remuneration report of the companyWestpac Banking Corporation (WBC) to gain understanding regarding executive pay andremuneration. This segment presents details of the performance measures that are utilized andevaluates the benchmarking and scorecards along with the use of different non-financialmeasures. Moving further, this study also reviews the available literature on diverse aspectsof methods utilized for analysis of executive pay and acquires several details about thedimensions used. Furthermore, the study also presents media reports and perspectives ofanalysts to investigate any kind of public discussion about the remuneration of the pertinentexecutive.Review of topic:The topic under consideration illustrates existing literature on remuneration of the companyWestpac Banking Corporation (WBC). Detailed review of the remuneration report reveals thefact that remuneration strategy of the firm Westpac Banking Corporation (WBC) is designedand developed to attract and at the same time retains talents. The management of the firmfollows a remuneration strategy aimed at retention of experienced, qualified members of theboard and policies to remunerate them properly.In essence, the remuneration policy of thegroup supports the vision as well as strategy by means of requiring the design andadministration of remuneration to align with the customer and interests of shareholders.WBC has a remuneration Committee that aids the board to satisfy the remunerationaccountabilities to diverse shareholders by monitoring the policies of the remuneration aswell as practices of the entire group, exercises of the external remuneration, marketexpectations and regulatory necessities in Australia and globally.
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