Decision making environment, Managerial Accounting

Assignment Help:

Decision Making Environment

There are four main environments within that decisions can be done. These are:

•    Certainty
•    Risk
•    Fundamental uncertainty
•    Competition
•    Certainty environment

In this environment whole information is available as to which states of nature will take place. The decision making procedure just includes picking the best alternative.

Related Discussions:- Decision making environment

MOH Cost Help, During the year the company worked a total of 145,900 machin...

During the year the company worked a total of 145,900 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,305,346. What is the amount of underapplied o

results of quality improvements, At the starting of the year, Asquith Comp...

At the starting of the year, Asquith Company Ltd initiated a quality improvement program. The program was successful in decreasing scrap and rework costs. To help assess the impact

Material storage, Material storage Sophisticated mathematical models to...

Material storage Sophisticated mathematical models to control economic buying, and systems control the flow of material may all be for naught if the obvious-efficient storekeep

Debentures, 500 000 debentures are in a company at a coupon value of R50 ea...

500 000 debentures are in a company at a coupon value of R50 each in issue. During each financial year, interest on these debentures is paid in arrears and in equal quarterly inst

Disadvantages of participatory budgets , Disadvantages of participatory bud...

Disadvantages of participatory budgets They consume more time and therefore are more expensive The advantage of management participation may be negated by failure t

Decision making environment-risk seeking-neutral-averse, Risk seeking: ...

Risk seeking: A risk seeker is a decision maker who is concerned in the best likely outcome no matter how small the chance that they might take place i.e. he takes high risks

Cost classifications, explain briefly variable cost, fixed cost and semi- v...

explain briefly variable cost, fixed cost and semi- variable in the production cost of a productor service, giving example for each

Steps of developing a cost estimating relationship , STEPS OF DEVELOPING A ...

STEPS OF DEVELOPING A COST ESTIMATING RELATIONSHIP Firmly speaking, a CER is not a quantitative method. It is a framework for using suitable quantitative methods to quantify a

Inventory planning and control, INVENTORY PLANNING AND CONTROL The main...

INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials

Moral Law vs. Tax Law, 1. Do you think that the tax minimization scheme ...

1. Do you think that the tax minimization scheme described to Debbie Kishimoto is in harmony with the ethical behavior that should be displayed by top corpo- rate executives? Wh

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages