--%>
Assignment Help - homework help

Determining costs and benefits in decision making process

Write down a short note on determining costs and benefits in decision making process?

E

Expert

Verified

Determining costs and benefits: Most of the management decisions need knowledge of the costs and benefits of pursuing a specific course of action like providing a service, generating a new product or closing down the department. Decision will include weighing the costs against the advantages. The management accountant can aid managers by giving details of specific costs and benefits. In some situations, costs and benefits might be extremely difficult to quantify; though, some approximation is generally better than nothing at all.

   Related Questions in Managerial Accounting

  • Q : Budgetary accounts Accounts used in

    Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in

    		•
  • Q : Define the term Strategic management

    Briefly define the term Strategic management and also state the reason why it is designed?

    		•
  • Q : What is Service What do you mean by

    What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.

    		•
  • Q : What is Limited partnerships Limited

    Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity. All the states encompass passed limited partnership legislation.A limited partn

    		•
  • Q : Define Common Cost Common Cost : It is

    Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.

    		•
  • Q : Define Process and Process Costing

    Define Process and Process Costing: Process: The organized process of transforming inputs (that is, people, equipment, techniques, materials, and atmosphere), to outputs (that is, products or servi

    		•
  • Q : Determining costs and benefits in

    Write down a short note on determining costs and benefits in decision making process?

    		•
  • Q : Things which Weaknesses comprises Write

    Write a brief note on the things which Weaknesses comprises?

    		•
  • Q : Define Indirect Cost Indirect Cost : A

    Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.

    		•
  • Q : Describe fluctuating capital of partners

    Describe fluctuating capital of partners? Answer: Partner‘s capital is stated to be fluctuating if capital modifies with every transaction in the capital accou

    		•