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Accounting (778)
ACC 410 (13)
Lecture

Textbook notes

2 Pages
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Department
Accounting
Course Code
ACC 410
Professor
Keith Whelan

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Description
Chapter 4 Relevant Costs for Nonroutine Operating Decisions Process for Making Nonroutine Operating Decisions 1. Identify the type of decision to be made 2. Identify the relevant quantitative analysis technique(s) 3. Apply the relevant quantitative analysis technique(s) 4. Identify and analyze the qualitative factors 5. Consider the quantitative and qualitative information and make a decision Identify and Apply Relevant Quantitative Analysis Techniques - Quantitative information numerical information that is available for addressing a problem - To be relevant information, cash flows must (1) arise in the future (2) vary with the action taken - Irrelevant cash flows are ignored - Sunk costs are always irrelevant to decision involving cash flow that arise in the future - Analysis techniques require input data Data for some input variables will be known and for other input variables estimates will be required Identify and Analyze Qualitative Factors - Qualitative information factors that are not valued in numerical terms is vital to good decision-making incorp
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