--%>

Developing objectives and plans in decision making process

Write down a short note on the developing objectives and plans in decision making process?

E

Expert

Verified

Developing objectives and plans: Managers are mainly accountable for establishing the mission and aims of the business and then developing policies and plans to accomplish such objectives. The management accounting information can aid in gathering information which will be helpful in developing suitable objectives and policies. This can as well produce financial plans which set out the likely outcomes from the adopting specific policies. The managers can then employ such financial plans to compute each policy and use this as the basis for deciding between the different policies on offer.

   Related Questions in Managerial Accounting

  • Q : Performance evaluation and

    Write down a short note on the Performance evaluation and control in decision making process?

  • Q : Balancing risk and return What do you

    What do you mean by the term balancing risk and return? Explain in brief?

  • Q : What is Corporate Tax Corporate Tax :

    Corporate Tax: It is a levy placed on the gain of a firm, with different rates employed for various levels of gains. Corporate taxes are the taxes against profits earned by businesses throughout a given taxable period; they are usually applied to comp

  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

  • Q : Define Profit or Loss Analysis Profit

    Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o

  • Q : Conditions in which fixed capital of

    Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:

  • Q : Main working areas of the coach

    Write a short note on the main working areas of the coach maintenance department?

  • Q : Define Responsibility Center

    Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa

  • Q : Techniques to liberate the function of

    Write down the different techniques employed to liberate the function of management accounting?