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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 includes the following:1. What selling prices should be set for the firm's products?2. How many units must be generated of each product?3. What media shall we use for advertising the firm's product?4. What level of service shall we recommend customers in terms of the number of days needed to deliver an order and the after-sales service?
Data must also be gathered for short-term decisions; for illustration, data on the selling prices of competitor's products, predicted demand at alternative selling prices, and predicted costs for various activity levels should be assembled for pricing and output decisions. Whenever the data has been gathered, management must decide which course of action to take.
Disadvantages of ratio analysis 1) False results: ratios are based upon the financial statement. In case financial ratio is incorrect or the data upon which ratios are based
Categories of zero base budgeting The preceding discussion will reveal that zero base budgeting is based primarily on: 1) Development of decision units 2) Identification
Identify whether each of the following transactions involves spot exchange, contract, or vertical integration. For the last item if the contract length is optimal or suboptimal.
explain strategy asa an organisational process
Consider the following quality data for three different manufacturers of automobile weather-strips: Weather-strip Bulb Dimension Specification y=20 +or- 4mm
After going through this section, you must be capable to: Know the concept and characteristics of working capital; Identify with the difference among net working capital
Material storage Sophisticated mathematical models to control economic buying, and systems control the flow of material may all be for naught if the obvious-efficient storekeep
Define the Balanced Score Card? 1. Distinguish between standard control and budgetary costing. 2. Define the ‘Balanced Score Card? Explain the steps in implementing ‘Balance
JIT and Management Accounting Management accountants in many organizations have been criticized because of their failure to change their managing accounting system to reflect
Firms need cash to invest in inventory, receivables and fixed assets and to create payments for operating expenses, so as to increase earnings and sales and make sure the smooth ru
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