Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Decision Making Cycle
Steps in decision-making cycle are as:
a) Clearly define the objective that is to be the focus of the decision. This is significant in order that the decision makers contain a well-defined problem that has to be solved and not a vague idea that lacks clarity.
b) Consider the other strategies available to the satisfactory attainment of the objective. It is significant in order that the final decision agreed upon has taken account of all relevant possibilities.
c) Gather relevant information in order to compare other strategies in quantifiable terms. It may need considerable thought and effort in order to ensure about all relevant data are received.
d) Consider the qualitative factors that are likely to influence the decision. It is significant as an element in decision making. There may be non-quantifiable costs and benefits that lead to the final option of strategy being other than that providing the highest quantifiable return.
e) Compare the alternative strategies by utilizing both qualitative and quantitative data and then make a final decision.
f) Re-evaluate your decision; determine whether you are achieving the objectives and whether not, repeat the process.
Accounting Records - Nature and Purpose of Cost Accounting The quantitative information employed in the management and cost accounting systems can be obtained from with two ac
You are required to conduct a detailed analysis of all the prime cost and overhead variances. You must create a fictitious company (and a fictitious cost object) which has at least
Effects of differential cost analysis in decision making
Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h
Pecos Canyon Winery is a small vineyard/winery located in the Big Bend area of West Texas. The initial cabernet grape vines were planted in the spring of 2004 with the first wine p
Overhead Variances This explains how the variable overhead total variance and the fixed overhead total variances calculated. You can recall the overheads refer to production c
Why do we separate factory overhead from materials and labor?
Consider as Illustration. Profit and loss account of TIL demonstrates, that, operations have given gross addition of Rs. 360 million to funds throughout the period. These funds sho
I'm having a hard time with this, can you please help? I know the dates are imparative also in finding the solution. Stevens purchased an auto on Jan 1, 2001. On December 31, 2003
Cash is the other form of fund although in a narrow sense, this refers to a supply which can be drawn upon as per to the need. Here the term cash involves both cash and cash equiva
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd