Advantages of simulation, Managerial Accounting

Advantages of Simulation

1) It can be used in areas where analytical techniques are not available or would be too complex.

2) Constructing the model inevitably must involve management and this may enable a deeper insight to be obtained into a problem.

3) A well-constructed model enables the results of various policies and decisions to be examined without any irreversible commitments being made.

4) Simulation is a cheaper and less risky than altering the real system.

5) Can be used for training decision makers.

Posted Date: 12/7/2012 5:59:04 AM | Location : United States







Related Discussions:- Advantages of simulation, Assignment Help, Ask Question on Advantages of simulation, Get Answer, Expert's Help, Advantages of simulation Discussions

Write discussion on Advantages of simulation
Your posts are moderated
Related Questions

Disadvantages of the cost accounting: 1. It is unnecessary: it is argued that maintenance of the cost records is not necessary and involves duplication of work. It is based o

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

Hi there, i am looking an expert to make my assignments for this subject and i do have other subjects as well. Let me know how you can go through my assignment.

X's Strategy X will like to divide his play between his rows in such a way that his expected winnings or losses when Y plays the first column will be equal to his expected winn

The F–test    The significance of the regression results can be tested by using the F- statistics. The F-statistics is a ratio which compares the explained sum of squares and t

Advantages and limitations of game theory Advantage: Game theory helps us to learn how to approach and understand a conflict situation and to improve the decision maki

What is traditional costing In traditional costing overheads are first related to cost centers (production and service centres) and then to cost object, i.e. production. ABC o

a cost-allocation base may be any of the following except: a. cost driver b. cost pool c. way to link indirect cost to a cost object d. nonfinancial quantity