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Chapter 13

Chapter 13 - Short Run Decision Making Relevant Costing
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Department
Accounting
Course
ACC 406
Professor
Vincent Cappelli
Semester
Winter

Description
thWednesday March 28 2012 Chapter 13 Short Run Decision Making Relevant Costing Short Run Decision Making short run decision making consists of choosing among alternatives with an immediate or limited end in view accepting a special order for less than the normal selling to utilize idle capacity and to increase this years profit is an example some decisions tend to be short run in nature however it should be emphasized that short run decisions often have long run consequences short run decisions are often small scale actions that serve a larger purposeThe Decision Making Model a decision making model is specific set of procedures that produces a decision can be used to structure that decision makers thinking and to organize the information to make a good decision following is an outline of one decision making model 1 Recognize and define the problem 2 Identify alternatives as possible solutions to the problem eliminate alternatives that clearly are not feasible 3 Identify the costs and benefits associated with each feasible alternative classify costs and benefits as relevant or irrelevant and eliminate irrelevant ones from consideration 4 Estimate the relevant costs and benefits for each alternative 5 Assess qualitative factors 6 Make the decis
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