Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
coefficient of determination r2if the regression line calculated by the least square method were to fit the actual observations perfectly then all
x ltd has a current ratio of 451 and acid test ratio of 31 if its inventory is rs 24000 find out its current
evaluation of the regression modelthe regression equation calculated above was based on the assumption that cost varied with the units produced
account analysis inspection of accounts methodthis method requires that departmental managers and the accountant inspect each item of expenditure
engineering methodthese methods are based on the use of engineering analysis of technological relationship between inputs and outputs eg method
choose the relationship which best predicts the dependent variableafter exploring a diversity of relationships you should select the one that can
gather data concerning the relationship among the dependent and independent variables collecting data is generally the most hard and time-consuming
select the cost driversthis might also be termed to as independent explanatory or predictor variable a cost driver can be stated as any factor whose
state or select the dependent variable ywill the cer be employed to estimate price labor hours cost material cost or some other measure of cost will
steps of developing a cost estimating relationship firmly speaking a cer is not a quantitative method it is a framework for using suitable
steps making decisiontreea decision tree is a graphical representation of decision process indicating decision alternatives states of nature related
multi-stage decision making under risk the use of decision treessequencing is concerned with the selection of an appropriate sequence or order of
riskrisk includes circumstances or events that may or may not take place though whose probability of occurrence can be predicted from the past
decision making environmentthere are four main environments within that decisions can be done these arebull certaintybull
implementation of the decisionsonce alternative courses of action have been chosen they must be implemented as part of the budgeting procedure the
select appropriate alternative courses of actionin practice decision-making includes choosing among competing alternative courses of action and
illustration of short-term decisionsthese are to a significant extent determined by the excellence of the firms long-term decisions illustration of
gather data about alternativeswhen potential areas of activity are specified management must assess the potential growth rate of the activities the
the search for alternative courses of actionthe second stage of the decision-making model is a search for a range of possible courses of action or
organizing1 it is the establishment of the framework within which the required activities are to be performed and the designation of who should
controlcontrol includes a comparison of actual performance with the plan so that deviation from the plan can be identified and corrective action
planningplanning is the fundamental function of the management by means of which the managers decidewhat goals are to be accomplishedhow they will be
attributes of good information1 information is anything that is communicated and is sometimes said to be processed data it is data processed in such
management accounting 1 which is concerned with provision of information to people within the organization to help them make better decisions
definition of accountingaccounting is the procedure of recognizing measuring and communicating economic information to allow informed judgments and