Decisions Involving Alternative Choices Structure: 13.1 Introduction Objectives 13.2 Decision Making 13.3 Types of Costs 13.4 Types of Choices Decisions 13.5 Make or Buy Decisions 13.6 Addition / Discontinuance of a Product line 13.7 Sell or Process Further 13.8 Operate or Shut down 13.9 Exploring New Markets 13.10 Maintaining a desired level of profit 13.11 Summary 13.12 Terminal Questions 13.13 Answers to SAQs and TQs 13.1 Introduction In the previous unit we learnt about Marginal
Premium Costs
ACC2CAD COST ACCOUNTING AND DECISION MAKING SEMESTER 1‚ 2011 MINI CASE STUDY 1 DISCLOSURE OF CONFIDENTIAL INFORMATION; ETHICS Page 1 Recommendation Page.3 Executive summary Page.4 Introduction Page.5 Analysis Page.6 Recommendations and conclusion Page.7 Appendix 1 – Code of Ethics for Professional Accountants Page.8 References Page.9 Page 2 Recommendation Erin should notify Smart Worx of the postponement
Premium Ethics Management Confidentiality
CHAPTER 1. DECISION MAKING AND THE ROLE OF ACCOUNTING. ACCOUNTING: The process of identifying‚ measuring‚ recording and communicating economic information to permit informed judgment and economic decisions by users of the information. THE NATURE OF ACCOUNTING: Accounting is a services activity (to business‚ government‚ charities‚ clubs and families). Its function is to provide and interpret financial information that is intended to be useful in making economic decisions. IDENTIFICATION:
Premium Business Economics Accountant
Solutions to Lecture Activities ACCT 1046 Introductory Accounting Semester 1‚ 2010 Lecture 1 Unit 1 – Business Decision Making and Accounting Lecture Activity 1 1. The accounting information system comprises four main procedures: analysis‚ recording‚ reporting and identification. The order in which they occur is: a) Reporting‚ analysis‚ recording‚ identification b) Identification‚ analysis‚ recording‚ reporting c) Analysis‚ identification‚ recording‚ reporting d) Identification‚ recording
Premium Balance sheet Asset Generally Accepted Accounting Principles
Nickcole James Planning and Decision Making Florida Technical College Planning and Decision Making Planning and decision-making are critical processes for effective police administration because: (1) planning is the first step to the effective operation and good management of a police department; (2) planning is the essential element of decision –making; (3) effective planning can eliminate or reduce potential catastrophe resulting from manmade and natural disasters; (4) decision making can usually
Premium Management Decision making Risk
GSM 5301 Accounting for Decision Making Instructions: Answer all questions and show all working in answer book provided. Question 1 (30 marks) (a) Reen Delivery Service is owned and operated by Joanne Lee. The following selected transactions were completed by Reen Delivery Service during March 2012. No. Transactions 1. Joanne Lee invested cash of RM30‚000 into ReenDelivery Service. 2. Purchased a van valued at RM20‚000. The business paid cash RM5‚000 and the balance is financed
Premium Inventory Balance sheet Asset
Abstract Ask five or ten different people for a definition of strategic planning or decision making or even planning and you will probably receive five or ten different answers. Most agree that strategic planning is a way to identify long-term goals and to direct your company toward fulfilling those goals. Most also will agree that decision making is a cognitive activity involving the interplay of environmental cues and human cognitive processes‚ culminating in the selection of one or more possible
Premium Strategic management Management Strategy
Introduction Pg. 2 II. Accounting Overview Pg. 3 III. Financial (Cost) & Management Accounting Pg. 4 IV. Management Accounting role in the Organization Pg. 6 V. Communication and presentation Pg. 7 VI. Management Process Pg. 8 VII. Conclusion Pg. 10 VIII. End Notes Pg. 11 IX. Bibliography/Further Readings Pg. 12 Introduction As a business owner‚ manager‚ and director of various business entities that I manage‚ I can very
Premium Management Management accounting Decision making
1.54 1.71 The ROE shows that for each dollar of shareholders’ investment‚ the Unilever generated the profit of more than 0.43 dollar from the 2011 to 2013. Compared with its main competitors L’oreal and P&G whose ROE is less than 0.33‚ its business strategy named Compass is definitely a more effective one and implemented successfully. The ROA indicates the Unilever’s better ability in generating revenue from its assets‚ which shows efficient assets management. Unliever’s net profit margin although
Premium Financial ratios Financial ratio Generally Accepted Accounting Principles
Accounting for Decision Making Mohammad Jamal an IT graduate who is currently pursuing his MBA formed a computer service business Jamal’s Computer Services as a holiday job. To start the business on May 1‚ he deposited $7‚000 of his own money into a new bank account in the name of the business. In addition the business borrowed $3‚000 at 5% per annum from CIMB bank. He rented a small pace for $300 per month‚ and hired 2 students with a monthly salary of $1‚500 each per month to service customers’
Premium Money Credit card Cash flow