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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.
Responsibility Accounting This is a term used to define the measuring of performance of decentralized units, using account results. Responsibility accounting recognizes various
Budgetary control According to CIMA the establishment of budgets relating the responsibilities of executive to the requirement of a policy and the continuous comparison of achi
Explain TWO limitations of using accounting ratios to assess the performance of a firm and suggest how each limitation may be improved
In the earlier unit, we have studied how firms determine their requirements for current assets and manage their holdings in cash and marketable securities. Inside a classical manuf
The Nature of Accounting Accounting is process of recording, analyzing, summarizing, and interpreting financial (money-related) activities to allow individuals as well as org
Number of Operating Cycles: The number of operating cycles in a period is determined by dividing the number of days in a year i.e.365 by the length of net operating cycle. Express
Advantages of standard costing 1) Measuring efficiency: standard costing is a yardstick for measuring efficiency. The comparison of actual costs with standard costs enables t
Determine the Distribution cost and Research cost Distribution cost: The cost of sequence of the operations which begin with making the packed product available for dispa
Account analysis (Inspection of accounts) method: This method requires that departmental managers and the accountant inspect each item of expenditure within the accounts for s
Ask question #MinimumYears Purchase Costs Running cost discount factor 8% Running cost Savings PVS 0 -7000 -7000 1 2000 0.926 1852 5556 3704 2 2500 0.857 2142.5 5999 3856.5
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