Information that a manager need to make a decision
What is the various information that a manager need to make a decision?
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The managers might require information to help them decide whether to:
a) Develop new products or services (as with the computer manufacturer developing a latest range of computers).
b) Raise or reduce the price or quantity of existing services or products.
c) Borrow money to help the financial condition of the business.
d) Raise or reduce the operating capacity of the business.
Briefly define the term Strategic management and also state the reason why it is designed?
Operating Budgets: It is a financial document which aids a business in making significant decisions regarding its actions. An operating budget does not contain instant impact on the actual state of the business and exhibits only future projections. Bu
A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
Describe a join between tables?
Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o
A company has production facilities in several countries. Some of the products they sell are produced in stages (Raw Materials -> Pre-Assembly -> Assembly -> Finished Product) based on the technologies and materials involved (see Table 1). Q : Define Avoidable Cost Avoidable Cost : Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Cost Reduction: The procedure of looking for, finding and eliminating unwarranted expenses from the business to raise gains without containing a negative impact on the product quality. Most of the business managers will engage in periodic cost reducti
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
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