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Model Construction
The success of a simulation exercise is related to the predictive quality of the underlying model, so that considerable care should be taken with model construction. Significant factors in model development are:
Object oriented: The model must be constructed with some definite reason and the model results should be directly associated to this purpose.
Critical variables and relationships: Model building is an iterative, creative procedure with the aim of recognizing those variables and relationships that should be included in the model.
Simplicity: The most excellent model is the simplest which has sufficient predictive qualities.
Management involvement: To construct good models these must be a thorough understanding of actual operations. Only management here these knowledge so that they must be involved.
interest rates
Objectives of the cost accounting The Objectives of the cost accounting are ascertain of costs, fixation of selling prices, proper recording and presentation of cost data to th
Computing equivalents units and assigning costs to completed units and ending work in process; no beginning inventory or cost transferred in (30 -45min) Sue Electronics makes CD p
SENSITIVITY ANALYSIS OF EOQ MODEL Sensitivity Analysis is regarded with the manner in which those results of solutions change in response to change in model parameters.
what areas can linear programming be applied in managerial accounting?
ALGEBRAIC ANALYSIS The supposition of linear cost behavior allows use of straight-line graphs and simple linear algebra in cost-volume study. The net cost is a semi-variable c
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School problem is asking to calculate the work in progress inventory for the beginning of a month without providing previous month data.
question 3.5A Trial balance sheet,income statement, owner''s equity and balance sheet
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