Purpose-This paper sets the scene for this special issue by synthesising the vast array of literature on performance measurement to examine what constitutes performance measurement, and why it is important for the Third Sector. It also analyses key issues of performance measurement and introduces the papers that comprise this special issue of Qualitative Research in Accounting and Management. Design/methodology/approach-This paper takes the form of a literature review. The authors draw on extensive research on performance measurement from a diverse range of disciplines to identify and explore key definitions, opportunities and challenges with performance measurement in the Third Sector. Findings-Economic/Financial efficiency approaches, Programme Theories, Strategic and Participatory Approaches all present opportunities and challenges when measuring performance in the Third Sector. The papers in this Special Issue demonstrate the manner in which different organisations have dealt with these. Research implications-This special issue of Qualitative Research in Accounting and Management aims to stimulate qualitative research into performance measurement frameworks within the Third Sector both inside organizations and to their external stakeholders (supporters, clients and the general public). Practical implications-Those charged with governance and management in Third Sector Organisations (TSOs) will seek to use appropriate approaches to measuring and managing performance in order to learn and to discharge accountability. The different aspects of performance measurement will also be of interest to funders, donors, and those who seek accountability from TSOs. Originality/value-The categorisations of methods and approaches to performance measurement should guide researchers and practitioners alike. A future research programme is also derived.

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We thank Doris Hui for her invaluable research assistance on this project. AbstractCharities are becoming recognised as playing an important part in communities by furthering government's social objectives through increasing support to disadvantaged members of society. As charities multiply in number it becomes increasingly difficult for fund providers and contributors to determine which charity to support. In New Zealand there is a move towards providing public access to the financial accounts of charities to assist stakeholders in their decision making and to enhance transparency in charities.However, this assumes that these financial accounts are understandable by all stakeholders. This paper identifies four problems that limit the way forward of the financial reports of charities. The first problem is fund accounting where different titles are used to describe similar funds and specific funds are utilised to remove items from performance measurements. The second problem involves the practice of recording fixed assets as an

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