Constructing the model, Managerial Accounting

Assignment Help:

Constructing the Model

Steps:

1) Identify the objectives of the simulation (A detailed listing of the results expected will help to clarify the output variables.

2) Recognize the input variables. Differentiate among controlled and non-controlled variables.

3) Where necessary determine the probability distribution

4) Identify any parameters and status variables

5) Identify the output variables

6) Determine the logic of the model

Note:

The key questions are how the input variables changed into output results is, what formulae/decision rules are required? How will the probabilistic elements be deal with? How must the outcomes be presented?


Related Discussions:- Constructing the model

Explain the modern control methods, 1. Explain the modern control methods w...

1. Explain the modern control methods with examples. 2. What are the reports produced for performance measurement? Demonstrate.

Explain about cost centre, Explain about Cost centre: Meaning & defini...

Explain about Cost centre: Meaning & definition: cost centre is defined as a location, person or item of equipment (or group of them) in respect which costs may be ascertaine

Costs, Recommend whether marginal or absorption costing should be use for i...

Recommend whether marginal or absorption costing should be use for internal monthly reporting

Dentify and explain the many classsification of cost, dentify and explain t...

dentify and explain the many classsification of cost for planning,control,performance evaluation and decision making

Determine abc system and service organizations, ABC System and service orga...

ABC System and service organizations The ABC system has been taken up as applied to a manufacturing organizations with the same efficiency. One basic characteristic of service

Explain prerequisites of a sound variances analysis system, Prerequisites o...

Prerequisites of a sound variances analysis system A variance analysis system would be good enough in controlling costs and evaluation performances if the following requirement

Explain the types of standards, Explain the Types of standards The foll...

Explain the Types of standards The following is the brief description of various types of standards: 1) Basic standards: these are the standards which are assumed to remai

Analysis of each decision package , Analysis of Each Decision Package ...

Analysis of Each Decision Package This analytic procedure permits the manager of the decision package and its alternatives to assess and validate its operation. Numerous quest

Relevant cost, what are characteristics of relevant cost?

what are characteristics of relevant cost?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd