As the traditional measures of financial performance do not take capital cost into account, mistaken financial decisions could be made. In order to prevent this, Cash Value Added (CVA), which measures financial performance by taking capital cost, operating cash flow, the fixed asset investments and investment costs for that asset investment into account, has been developed. Although CVA is a technique periodically used in measuring operational and financial performance, not only accounting data, but also variables which are not available in accounting reports are used in measurement. CVA is also used as a guide by companies in many areas such as defining goals of the company and determining wages of employees.
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