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Financial planning programs
Such programs differ in complexity. Some simple programs can include only those variables discussed while other more complicated ones can include an organization’s complete budget.
Many firms use interactive programs of basic CVP equation on their microcomputers to analyze data they have collected and entered. These interactive capabilities allow managers to enter and change their inputs easily and also make the analysis of the financial effects of various alternatives simpler.
The computers’ speed and accuracy in providing information from entered data improve the speed and accuracy with which the manager can select the most profitable actions.
Sensitivity study is one approach for coping with modifications in the values of the variables. It focuses on how a result will be changed if the original estimates or the underlying assumptions change.
The widespread use of spreadsheet packages which do not require programming expertise has enabled management accountants to develop CVP computerized models. The impact of alternative revised plans is quickly identified and changes only implemented when it is apparent that the original estimates are incorrect.
1. Explain the modern control methods with examples. 2. What are the reports produced for performance measurement? Demonstrate.
Describe Benchmarking It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organi
Activity Based Costing (ABC) differs from Absorption Costing (AC) in the manner in which overheads are charged to units. ABC charges overheads to units based on their proportion
Ordering Costs These are incurred in getting purchased items into the company’s inventory or stores, and usually consist of clerical costs of: • Making the purchase demand.
Your company is considering investing in its own transport fleet. The presentposition is that carriage is contracted to an outside organization. The life of thetransport fleet woul
Define Materials cost variance Material cost variance (MCV) is the difference between the standard cost of material specified and the actual cost of materials used." It is the
static budget
COST-VOLUME PROFIT (C-V-P) ANALYSIS INTRODUCTION You can employ cost-volume-profit analysis to examine the natural relationship among cost, volume, and profit in pricing decision
Illustration of short-term decisions These are, to a significant extent, determined by the excellence of the firm's long-term decisions. Illustration of short-term decisions in
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