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The Role of Computers in Simulation
Computers can be used to:
1) To generate the random numbers
2) To simulate thousands of trials. This is done extremely fast, accurately and reliably.
3) Several combinations of the decision variables can be simulated very fast.
4) Provide management with timely reports, enhancing the competitive edge of the firm.
Critique of Performance Measurement This section brings together material from preceding data in this lesson in order to provide a critical appraisal of performance measurement
Steps in Strategic Cost Analysis 1) Recognize the suitable value chain and allocate costs and assets to it. 2) Identify the cost drivers of each value activity and how they int
what is the topic about? what are the practical implications? what are the practical criticisms?
Advantages of Imposed budgets Advantages: They increase the probability that the organization strategic plans are incorporated into the planned activities. They
static budget
Transportation Problem-Solution Solution of the Transportation Problem: The fundamental steps of the transportation method are: Step 1: Determine a preliminary b
Identify the management assertions related to each of the fictitious supplier credits and unrecorded amounts in accounts payable using the facts presented
Assumption of break even analysis The break even analysis is based upon the following assumptions : 1) All elements of cost, i.e., production , administration and selling di
Contribution margin Analysis Contribution Contribution is the difference between sales and variable cost or marginal cost of sales . if may also be defined as the excess
What is the Responsibility of operating budget when the operating budget of a firm is constructed in terms of responsibility areas it is called the responsibility budget shows
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