What is the definition of bench marking in accounting?

Benchmarking is a process of indentifying the best practices to achieve a particular task to serve as a yardstick for measuring or comparing future performance.

In benchmarking we follow best practices of most succesful companies and then compare the achievement against those benchmarks or yardstocks.

is an ongoing process that entails quantitive and qualitive measurement of the difference between the entity performance of an activity and the performance by the best in the world.

benchmarking is continuous systematic process of measuring products,service.and practice agianst the best level performance 

however good benchmarking produce breakthroughtslead to sustainable competitive advantage ,whereas bemchmarking  can have significant  negative results...