in the world of accountants, highlighting the need for canvassing stakeholders’ view about accounting and other financial measurement.
Another one is also Porter’s 2004. She found out that the more innovative traditional measurement methods of travel costs and contingent valuation can be
more usefully applied to value heritage assets. They are not constrained by the requirement of identifiable cost or active market and contingent valuation is
capable of capturing total values.
2. Theory of perception
Individual uses five senses to experience the environment, sight, touch, hearing, taste, and smell. Organizing the information from the environment so that
it makes sense is called perception. Perception is a cognitive process Robbins 2001. It means that perception helps individual select, organize, store and
interpret stimuli into a meaningful coherent picture of the world. Because each person gives her own meaning to stimuli, different individual see the same thing
in different ways. Since perception involves cognition knowledge, it includes the interpretation of objects, symbols, and people in the light of pertinent experiences
Robbins 2001. Perception is a process by which individuals organize and interpret their
sensory impressions in order to give meaning to their environment Robbins 2000. Researches consistently demonstrate that different individuals may look at
the same thing yet perceive it differently. The fact is that none of us sees reality. We interpret what we see and call it reality Robbins 2000. The key to
understanding perception is to recognize that it is a unique interpretation of the
situation, not an exact recording of it. Perception, in short is a very complex cognitive process that yields a unique picture of the world, a picture that may be
quite different from reality Luthans 1998. To put other words, perception is how we select; organize; interpret; and retrieve information from the environment.
Through perception, people process information inputs into decisions and actions. The quality or accuracy of a person’s perceptions therefore, has a major
impact on the quality of their decisions or actions in a given situation. People respond to situations in terms of their perceptions, and the perceptions can be long
standing Wood 2001. Our perceptions depend on our values, needs, interests, past experiences, and
a variety of other factors. Because each person is unique in this regard, we can not always predict an individual’s perception and subsequent behavior in any
particular situation. We can say with reasonable certainty that people will behave in ways that are consistent with their values, attitudes, and perceptions Mc Afee
1987.
3. Stakeholder
