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Illustration of short-term decisions
These are, to a significant extent, determined by the excellence of the firm's long-term decisions. Illustration of short-term decisions includes the following:1. What selling prices should be set for the firm's products?2. How many units must be generated of each product?3. What media shall we use for advertising the firm's product?4. What level of service shall we recommend customers in terms of the number of days needed to deliver an order and the after-sales service?
Data must also be gathered for short-term decisions; for illustration, data on the selling prices of competitor's products, predicted demand at alternative selling prices, and predicted costs for various activity levels should be assembled for pricing and output decisions. Whenever the data has been gathered, management must decide which course of action to take.
Scorecard The traditional approach to the monitoring organizational performance has focused on the financial measures and the outcomes. Increasingly, companies are realizing th
The other source of spontaneous short-term financing is the accrued expenses which arise by the general conduct of business. An accrued expense is an expense which has been incurre
Explain the terms - maintenance and improvement Maintenance ; under the maintenance function, the management must first establish policies rules directives and standard operat
FOR each of the following cases, indicate why management and the auditors determined that control deficiency was a material weakness. Case1. In our assessment of the effectiveness
Project C would involve a current outlay of $50,000 on equipment and $15,000 on working capital. The investment in working capital would be increased to $21,000 at the end of the f
Conceptual understanding: defining in identifying relevant information Business application - Dave burgers is in the fast food restaurant business. One component of it's market
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COST-VOLUME PROFIT (C-V-P) ANALYSIS INTRODUCTION You can employ cost-volume-profit analysis to examine the natural relationship among cost, volume, and profit in pricing decision
Difference between budgetary control and standard costing Budgetary control The budgets are prepared for the concern as a whole. The budgets are fixed on the basis of p
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