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SIMULATION MODELS
Simulation is a method of analyzing a system by experimentally duplicating its behavior. Management accountants can be able to make meaningful inferences concerning the operation of some real-world system by constructing a model of the system and then experimenting with the model. If the model is an adequate representation of the real system, a study of the responses of the model to various decisions will give considerable insight into the effects of implementing such decisions in the real system.
Simulation is used where analytical methods are not available or would be very complicated. E.g. in inventory control problems, production planning problems, corporate planning, and queuing problems etc.
How many forms of break even charts?
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advantages of vertical balance sheet \
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What are the limation of semi variable cost and how to overcome it?
The production department has been investigating possible ways to trim total production costs. One possibility currently being examined is to make the paint cans instead of purchas
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