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Directing
There are number of good plans which are never realized. To realize a plan it requires the initiation and
direction of the number of actions. Often, these actions should be well coordinated and timed. Resources should be ready, and authorizations need to be in place to allow persons to act according to the desired plan. Similarity, imagine that a composer has written a beautiful score of the music -- the "plan." intended for it to come to life needs all the members of the orchestra, and the conductor who can bring the orchestra into synchronization and accord. Likewise, the managerial accountant has a chief role in putting business plans into action. Information systems should be developed to permit management to orchestrate the organization. Management should know that inventory is available when required, productive resources which are man and machine these are scheduled appropriately, transportation systems will be available to deliver the output, and on and on. In calculation, management must be ready to demonstrate compliance with contracts and the regulations. These are very complex tasks. They cannot happen without strong information resources. A major element of management accounting is to grow information systems to support the ongoing direction of business effort.
Managerial accounting supports the "directing" function in number of ways. Areas of support include costing, special analysis and production management.
Profitability ratios The primary objective of a business under taking is to earn profits. Profit earning is considered necessary for the survival of the business. A business re
Steady state condition In many cases, the Markov process will converge to a steady state or equilibrium. In general, as number of transitions `n' increase, the state values
Two-person, zero-sum games Two players X & Y have two alternatives. They show their choices by pressing two types of buttons in front of them but they cannot see the opponents
In the documentary bills the seller faces a lot of risk as the risk of non-acceptance or non-payment of goods. This poses a main risk for the seller. These additional securities in
MAKE A TRADING ACCOUNT
Constraints 1) A constraint of the type ≤ (≥) can be converted to an equation by adding a slack variable to (subtracting a surplus variable form) the left side of the constrain
Outline Five characteristics of relevant cost
What the traffic can bear pricing Pricing based on what the traffic can bear is not a sophisticated method. It is used by retail traders as well as by some manufacturing firms.
It is the most practical way of estimating working capital needs. In such method, the finance manager gets ready a working capital forecast. While preparing such forecast, firstly
Raner, Harris, & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices—one in Chicago and one in Minneapolis. T
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