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Marginal costing is useful in?
Marginal costing is one of the technique of costing and is usefull for the decision making process. As in decision making process decision are always made for the future activities and not for past activities so if exept marginal costing any other costing method for example absorption costing method is used then there is a chance of making wrong decisions as in future decision making past decision and past data is not relevent for decision making.
What is the difference between relevant cost and irrelevant cost?
Relevant cost is that cost which is required for the specific decision making process or the cost which will be change due to specific decision while irrelevant cost has no concern with decision making or any specific decision.
What are the ways which a management accountant might contribute to a formal decision making process?
A management accountant might contribute to a formal decision making process by ordering feasibility studies. A management accountant can also tell everyone how much things will cost and how much profit can be made.
What are the limitations of system analysis?
System analysis can not completely alter how people in the decision-making process relate. Also, it is only effective where a close relationship exists between decision-maker and analyst.
What is Performance Analysis?
Performance analysis is the process many employees go through in order to get a raise. Their managers set with them and analyzes their performance to determine whether they will get an increase in their income.
When would Permanent current assets not be a factor in a manager's decision making process?
When they are long term in nature
Where does decision making resides?
Decision making is the final steps before operation and after plan. The management ,managers, high officials usually take part in the process of decision making.
What is the current status of the Elsevier decision in process?
The current status of the Elsevier decision is pending, as the case is still being processed and no final decision has been reached yet.
What is the current status of the decision in process for the submission to Elsevier?
The decision for the submission to Elsevier is still pending.
Merits of centralization?
In centralized organizations managers are in the know. They are aware of things that are going on in the organization because they are a part of the decision process.
Why is research necessary to assist managers in the decision making process?
By first doing research, managers can be sure that their decisions are based on actual data (and not guesswork) and that their decisions are relevant to actual market forces (and not only their imagination).
What are the characteristics managers?
Management refers to the process of organized activities and groups of people achieving a common objective, such as organizational goals. The process of management involves decision making at all levels.
Managerial decision types?
There are two types in connection with the managerial decisions , they are :- 1. Vertical managerial decision , 2. Horizontal managerial decision. 1. Vertical managerial decision this means that the decisions are taken vertically that is from top level to bottom level. The top level managers will take the decisions and pass it towards the middle level and thy will pass it to the bottom level , there will be no consideration for the bottom level managers to play in the decision making process. The power will vested only with top levels. 2. Horizontal managerial decision here the top level managers will consider the ideas and suggesion from the bottom level before taking a decision.
Incident managers being planning for the demobilization process?
Incident managers begin planning for the demobilization process when?
What is the stage of the planning process managers should weigh the advantage's disadvantage's and potential effects of each alternative goal and plan?
Managers should examine alternatives before they determine their course of action. Without examining alternatives they may make a bad decision.
What criteria will guide your decision process as you consider your next opportunity?
The best way to make a decision is by performing a loss-profit analysis. Managers and economists know to choose that option which tends to maximize their profit or minimize their loss, relative to the other choices.
What does business decision making process have to do with operation research?
When managers have to make decisions it should be based on thorough research. With operations research, management can implement the best actions based on their research.
