In the wake of the financial crisis, three-quarters of the world’s CEOs say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance, according to research from the American Institute of CPAs and Chartered Institute of Management Accountants.

But just 51 percent of nearly 300 CEOs surveyed in 21 countries say their organisations currently measure the value of non-financial assets well or very well. And only 12 percent now turn to their finance teams for help with the task.

“Businesses are facing unprecedented challenges. One of the key struggles faced by CEOs is building sustainably for the future in the face of a fixation on financial, shortterm gains,” said Charles Tilley FCMA CGMA, Chief Executive of CIMA.

Tilley says the research shows there is an unmet need in the measuring of nonfinancial information within organisations.

"Management accountants, who have the depth and breadth to understand the business from multiple perspectives, can help businesses succeed in troubled times and create longterm sustainability,” notes Tiley.

“It is crucial that the challenges senior executives face and the decisions they make are supported by strategic, forward-looking guidance based on sound insights that drive strong performance,” said Barry Melancon, CPA, CGMA and CEO of the AICPA.

Offering the perspective of a global executive, Douglas Flint, Group Chairman, HSBC Group Holdings, said, “I think from the board’s perspective, management accounting is the most important aspect of the finance function. Because I think boards, investors, management want to know why the numbers are what they are, not what are the numbers.”

In the report, CEOs say that customers and employees contribute most to the value of the company.

Approximately 85 percent say that customer relationships contribute significantly and customers will be their most important stakeholders going forward; 81 percent say that knowledge and human capital contribute significantly to the overall value of the business.