Monash Business School’s Department of Accounting has been partnering with the Business Council of Mutuals and Cooperatives (BCCM) to create an industry framework that individual cooperatives and mutual enterprises (CMEs) will be able to customise for individual use.
Monash Business School Department of Accounting researchers, Dr Paul Thambar and Professor Matthew Hall have been leading a team of researchers in a two-year field study to develop a Mutual Value Measurement (MVM) framework. Organisations involved have include CBH, Australian Unity, Bank Australia, CUA, HCF, Capricorn Society, RACQ and RAC WA.
CMEs account for some of Australia’s largest and best-known organisations, with an estimated 2,000 CMEs in the sector across a range of industry sectors including agriculture, banking and health insurance. It is estimated that 8 out of 10 Australians are members of a CME.
Dr Thambar notes they differ from the investor-owned firms that they create and optimise both economic and social value – suggesting “Current accounting rules and standards are silent on how best to define and measure the total or mutual value these organisations create…While many reporting frameworks have been developed to measure social value, an industry framework for CMEs is not yet available.”
This webinar presents progress in the research as at year end, and provides a unique opportunity to engage with Dr Thambar one to one around the key learnings and observations of this important work.