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SIMULATION MODELS
Simulation is a method of analyzing a system by experimentally duplicating its behavior. Management accountants can be able to make meaningful inferences concerning the operation of some real-world system by constructing a model of the system and then experimenting with the model. If the model is an adequate representation of the real system, a study of the responses of the model to various decisions will give considerable insight into the effects of implementing such decisions in the real system.
Simulation is used where analytical methods are not available or would be very complicated. E.g. in inventory control problems, production planning problems, corporate planning, and queuing problems etc.
Calculate the EOQ An agent supplies 1000 units per calendar month (PCM) OF A PRODUCT TO CONSUMER. The cost per unit is £175 and the amount cost of storage space is £40. Associ
Accounting Cycle is the name given to the combined process of recording and processing the accounting proceedings of a company. The series of steps start when a transaction takes p
Seasonal Variations : Commodities along with seasonal demand results in raised level of working capital requirement. It could be offset through scaling down operations throughout t
ABC System and service organizations The ABC system has been taken up as applied to a manufacturing organizations with the same efficiency. One basic characteristic of service
This is a most familiar form of medium term financing in obtaining plant and vehicles, machinery etc. In hire purchase transactions, the purchaser of goods will obtain the possessi
Question 1 The following items are found in the trial balance of M/s Sharada Enterprise on 31st December, 2000. Sundry Debtors
Recommend whether marginal or absorption costing should be use for internal monthly reporting
underlying assumptions of breakeven analysis and the limitations of this.
Suppose the spot price of gold is $1700 per ounce. The futures price for delivery in six months is $1712, while the futures price for delivery in one year is $1720. The interest ra
Have lot of questions please any one help me
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