Risk Analysis & Decision Making

In earlier write-ups we have seen, understood the terms Management Accounting, evolution and it’s need. The term Management Accounting has gone a long way and has been constantly getting reinvented in how best it can be used. The economic crisis which has swept the world economy has resulted in increasing the significance of Management Accountant […]

Relevant Cost and Decision Making – An example

Creative Designing plc a printing company is seeking to increase its business by winning work from new customers. It has received an order from a multinational national company for printing New Year Greeting Cards. The technical team of Creative Designing has given a detailed report on the resource requirement for the order. The total cost […]

Sales Mix Decision with Key factor and multiple constraints

A good problem is the one that helps students understand concepts very well. As requested, I am posting first problem in Decision making process (more problems with solutions will follow). This problem involves finding an optimal sales mix within the given constraints. Though on one side the existence of multiple constraints makes it a challenging […]

Decision Making

Decision making is a key function of managers which involves choosing between alternatives. There are various types of decisions faced by managers. Below are a few examples a) Make or buy a product b) Accept or reject an order c) Shutdown or continue operations of a plant d) Introduce a new product or not   […]