Explain how cost information differs for profit measurement/inventory valuation requirements compared with decision-making requirements.
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Explain how cost information differs for profit measurement/inventory valuation requirements compared with decision-making requirements.
Assignment Details The decision-making authority assigned to managers within the different responsibility centers (cost, profit and investment) will differ based on the type of center because the role of management’s responsibilities also differs. Therefore, the accounting information required for planning, control, and performance evaluation differs according to the nature of these responsibilities. In 400-600 words address the following: Distinguish among a cost center, a profit center, and an investment center. Provide an example of each for a multi-hospital corporation. What...
Describe how economics can improve decision making. Explain how decision making is influenced by lack of information and by the incentives available. Analyze common government interventions in terms of efficiency and incentives. Please provide source
Explain the Role of Accounting Information in Planning , Controlling and Decision Making? (Full Answer)
Comprehensive in class Problems Inventory special valuation Oct 26th Hector company’s records indicate the gross profit on sales at 40% and the following information: December 31st ending inventory $23,000 Purchases Jan 1 – June 30th $482,000 Freight cost on purchases $25,000 Sales Jan 1 – June 30th $860,000 Calculate cost of ending inventory using the gross profit method.
explain how ERM adoption and implementation in higher education (HE) environment differs from the for-profit environment. Cite specific examples
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Cost-volume-profit (CVP) analysis is a powerful tool for planning and decision making. Thus, CVP analysis emphasized the interrelationships of costs, quantity sold, and price. This analysis is defined as assessment of total revenues, total costs and operating income in response to changes in the volume of sales, the selling price, variable cost or fixed costs of production. The CVP analysis can be a valuable tool in identifying the extent and magnitude of the economic trouble a company is facing and...
How are financial ratios used in decision making? Multiple Choice They aren't useful because decision making is too complex They can help identify the reasons for success and failure in business, but decision making requires information beyond the ratios They remove the uncertainty of the business environment They give clear signals about the appropriate action to take
Explain four ethical principles that guide decision making associated with patient care. How can leaders use these principles in decision making with a health organization?