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Financial Perspective
How do we produce value for our shareholders? This perspective covers traditional measures e.g. growth, liability, shareholder value. But these are set once the key areas for improvement have been identified and the balanced score card is the main monthly report. The score card is balanced in the sense that managers are required to think in terms of all perspective to prevent improvement being made in one area at the expense of another. Significant features of this approach are:
Responsibility Accounting This is a term used to define the measuring of performance of decentralized units, using account results. Responsibility accounting recognizes various
Decision Making Process Decision making is the process of choosing among alternatives. There are 7 steps that should be followed as shown in figure below: Figure:
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
Ross White's machine shop uses 2,500 brackets during the course of a year, and this usage is relatively constant by the year. These brackets are purchased from a supplier 100 miles
what is master budget?
Explains how activity –based techniques can be used to improve performance
need help with a master budget and assumptions for project
I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO
State the steps for Standard costing system standard costing system involves the following steps 1) Setting-up of standards for each element of cost: standards should be s
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