PDF-Economic Decision Making Using Cost Data (Managerial Accounting)

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The Benefits of Reading Books

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Economic Decision Making Using Cost Data (Managerial Accounting): Transcript

The Benefits of Reading Books. ECON 6313. Managerial Economics. Fall semester, . 2009. Professor . Chris Brown. Outline. What is managerial economics and why should you study it?. Examples of managerial decisions. Six steps to decision making. Chapter 1. Introduction . to Managerial Decision Making. Copyright 2013 John Wiley & Sons. The Anatomy of Decisions. Judgments involve cognition.. Common decision situations:. How to select a post-MBA job?. Chapter 1—Section 2--- pages 12-17. Section 2 Objectives. understand why choice is at the heart of economics . explain how incentives and utility influence people’ economic choices. consider the role of trade-offs and opportunity costs in making economic choices. Test Review. What is any reward or benefit that motivates people to do something. Incentive. What is a factor or disadvantage that discourages people from doing something?. Disincentive. What is a tool used to choose among alternatives; weighing the cost of a product or service against the benefit(s) it will provide?. Prologue. Financial and Managerial Accounting: Seven Key Differences. Work of Management. . Planning. Decision . Making. Controlling. Planning. Establish Goals. Specify How Goals . Will Be Achieved. Chapter 9. THIRD EDITION. ECONOMICS. and. MICROECONOMICS. Paul Krugman | Robin Wells. Why good decision making begins with accurately defining costs and benefits. The importance of . implicit. as well as . The Benefits of Reading Books The Benefits of Reading Books Dr.S.BELLARMIN. DIANA. ASSISTANT . PROFESSOR. PG . & RESEARCH DEPARTMENT OF MANAGEMENT . STUDIES. BON . SECOURS COLLEGE FOR WOMEN, THANJAVUR.. INRODUCTION. Accounting serves the purpose of providing financial information relating a business. Such information is provided to people who have an interest in the organization. Introduction to Managerial Economics . Session . 01. Dr. . Sumudu. . Perera. Nature . and scope of Managerial Economics. Goals . and Constraints of business organizations. The . Theory of the firm. The . Week -1. Prepared by: Dr . Waqar. Ahmad, . Asstt. . Prof.. Learning Objectives. What is Economics?. What is managerial Economics?. To analyze the concept of economics- scarcity and efficiency?. Micro Economics and macro economics?. Chapter 4. 2. Managerial Decision Making. Decision making is not easy. It must be done amid . ever-changing factors . unclear information . conflicting points of view. 3. Definition : Decision . Making. Dr. . Meena. Bhatia. Managerial Accounting. Identifying, measuring, analysing, interpreting and communicating for:. …..informed judgements and decisions by . internal. . users of the information.. PRESENTED BY. . ASAD NASEER MALIK, FCA, FPFA. PRESENTER’S PROFILE. ASAD NASEER MALIK, . FCA, FPFA. Principal, SKANS School of Accountancy. Mng. Director, DTC Group . Ex. Chairman Pakistan Gloves Manufacturers & Exporters Association .

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