Performance evaluation and control-decision making process
Write down a short note on the Performance evaluation and control in decision making process?
Expert
Performance evaluation and control: Management accounting information can assist in reviewing the performance of the business adjacent to agreed criteria. The non-financial indicators are rousingly employed to compute performance, all along with financial indicators. The controls require being in place to make sure that actual performance verifies to plan performance. The actual outcomes will, thus, be compared with plans to see whether the performance is better or inferior than predicted.
Why you want to be an accountant? Normal 0 false
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
What do you mean by the term SWOT analysis? Explain in brief?
Write a short note on selecting strategic options and formulating the plans?
Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c
Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).
18,76,764
1924400 Asked
3,689
Active Tutors
1437086
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!