QUESTION 1: PERFORMANCE MANAGEMENT Performance management is an important part of management accounting as it provides key information on progress towards objectives and strategic goals; it also can have a significant influence on how managers perform. Required: a) Explain how responsibility centres can be used to monitor and motivate performance. (6 marks) b) Explain the impact a performance management system should have on a manager's performance. (6 marks) c) Explain the advantages and disadvantages of using Return on Investment (ROI) as a performance measure. (4 marks) d) Explain the advantages and disadvantages of using Economic Value Added (EVA) as a performance measure. (4 marks)