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Analysis
Various business decisions have recurrent themes: whether to the outsource production or to the support functions, what level of production and pricing to establish, whether to accept the special orders with the private label of branding or the special pricing, and many more
Managerial accounting gives us the theoretical models of calculations which are required to support these types of decisions. Though such models are not perfect in every case, they surely are effective in stimulating correct thought. The apparently obvious answer may not always yield truly correct or best decision. Therefore, subsequent chapters will provide insight into the logic and methods/technologies that need to be employed to manage these types of the business decisions.
Markov Properties 1) Transition probabilities are dependent only on the current state of the system i.e. provided that the current state is recognized; the conditional probabil
Debtors turnover ratio( or receivables turnover ratio) Meaning: this ratio establishes a relation ship between net credit sales and averages trade debtors. Objective
Outline Five characteristics of relevant cost
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
Vogel's Approximation Method (VAM) This method is a heuristic and usually provides a better starting solution than the two methods described above. However, VAM generally yield
Stock turnover ratio Meaning: this ratio establishes a relation ship between costs of goods sold and average inventory. Objective: the objective of component of this r
What is Cost unit While the cost centres assists in ascertaining costs by location, person, equipment, operation or process, cost unit is a unit of product, service or a combin
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
What are the Features of zero base budgeting 1) Manager of a decision unit has to completely justify why there should be at all any budget allotment for his derision unit. This
Simple Queues A simple queue has the following characteristics; 1) There is a simple service channel 2) There are ‘discrete’ customers e.g. customers in a bank, or aircra
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