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Study sets matching "managerial accounting decision making"

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Study sets matching "managerial accounting decision making"

Managerial Accounting Decision Making
Working Capital
Current ratio
Quick ratio
Accounts receivable turn over
current assets - current liabilities
current assets/current liabilities
quick assets/quick liabilities (quick assets cash, marketable…
sales on account/average accounts receivable how quickly comp…
Working Capital
current assets - current liabilities
Current ratio
current assets/current liabilities
15 terms
Managerial Accounting: Differential Analysis - The Key to Decision Making
Differential Cost
Differential Revenue
Avoidable Cost
Sunk Cost
A difference in cost between any two alternatives. Referred t…
A difference in revenue between any two alternatives. Referre…
Cost that can be eliminated by choosing one alternative over…
Cost that has already been incurred and cannot be avoided reg…
Differential Cost
A difference in cost between any two alternatives. Referred t…
Differential Revenue
A difference in revenue between any two alternatives. Referre…
33 terms
Managerial Accounting A Focus on Ethical Decision Making Ch 3
Manufacturing Companies
Merchandising Companies
Service Companies
Raw Materials
Companies that purchase raw materials from other companies an…
companies that sell products that someone else has maufactured
companies that do not sell a tangible product as their primar…
inventory of materials needed in the production process but n…
Manufacturing Companies
Companies that purchase raw materials from other companies an…
Merchandising Companies
companies that sell products that someone else has maufactured
16 terms
Managerial Decision Making Final
Is it better for a Facilitative Interv…
What are the four most important of a…
When concerned with dealing with probl…
Do you agree that: When a team member…
Yes, high emotions so email the group after the meeting so pe…
All individuals take responsibility, keep discussions on trac…
The latecomer, the stand pat, and the silent one. Latecomer b…
Yes, because facilitators focus on how the team reaches its g…
Is it better for a Facilitative Interv…
Yes, high emotions so email the group after the meeting so pe…
What are the four most important of a…
All individuals take responsibility, keep discussions on trac…
27 terms
Managerial Accounting Chapter 9: The Use of Budgets in Planning and Decision Making
Budgets
Planning
Operating
Control
Plans dealing with the acquisition and use of resources over…
The cornerstone of good management; involves developing objec…
Involves day to day decision making by managers, which is oft…
Involves ensuring that the objectives and goals developed by…
Budgets
Plans dealing with the acquisition and use of resources over…
Planning
The cornerstone of good management; involves developing objec…
83 terms
Managerial Decision Making
3 Views of Ethics
Utilitarian View
Deontology
Legitimate Power
Utilitarian, Deontology, Practical
Greatest good for the greatest # of people
Golden Rule
The power a leader has that results from his or her position
3 Views of Ethics
Utilitarian, Deontology, Practical
Utilitarian View
Greatest good for the greatest # of people
110 terms
Managerial Decision Making
Difference between classic economics a…
Unobservable counterfactual
Correlationships
What is the best decision?
people are boundedly rational, boundedly willful, and bounded…
We cannot evaluate the result of a decision without consideri…
People make conclusions based on correlationships
The best decision is the one that ex-ante has the better chan…
Difference between classic economics a…
people are boundedly rational, boundedly willful, and bounded…
Unobservable counterfactual
We cannot evaluate the result of a decision without consideri…
10 terms
Managerial Decision Making
Operations Management (OM)
Challenges of Operations Management
Supply Chain
Supply Chain Management
the management of processes used to design, supply, produce,…
-Lowering costs... -improving quality... -enhancing product desirab…
Global network of organizations and activities involved in de…
The design and execution of relationships and flows that conn…
Operations Management (OM)
the management of processes used to design, supply, produce,…
Challenges of Operations Management
-Lowering costs... -improving quality... -enhancing product desirab…
37 terms
Managerial Decision Making
Decision
Decision making
Programmed decisions
Non-programmed decisions
A choice made from available alternatives
The process of identifying problems and opportunities and the…
A decision made in response to a situation that has occurred…
A decision made in response to a situation that is unique, is…
Decision
A choice made from available alternatives
Decision making
The process of identifying problems and opportunities and the…
33 terms
Managerial Decision Making
Decision making
Problem
Opportunity
Steps in decision making process
process through which managers identify and resolve problems…
a situation in which some aspect of organizational performanc…
situation that has the potential to provide additional benefi…
1. identify opportunities and diagnosing problems... 2. identify…
Decision making
process through which managers identify and resolve problems…
Problem
a situation in which some aspect of organizational performanc…
17 terms
Managerial Accounting - Chapter 14 - Decision Making: Relevant Costs and Benefits
Steps in the Decision-Making Process
Qualitative Characteristics
Three Characteristics of Useful Inform…
Unique Decisions
1. Clarify the decision problem.... 2. Specify the criterion.... 3.…
Are the factors in a decision problem that cannot be expresse…
Relevance - Info is relevant if it is pertinent to a decision…
Arise infrequently or only once. ... Compiling data usually req…
Steps in the Decision-Making Process
1. Clarify the decision problem.... 2. Specify the criterion.... 3.…
Qualitative Characteristics
Are the factors in a decision problem that cannot be expresse…
30 terms
Managerial and Group Decision-Making
Decision-making
Framing
Decision-making process step 1
Decision-making process step 2
The process of evaluating alternate options in order to take…
Putting a problem into context
Awareness of the need for a decision
Formulation of the problem
Decision-making
The process of evaluating alternate options in order to take…
Framing
Putting a problem into context
27 terms
managerial decision making
programmed dicisions
non-programmed decisions
certainty
uncertainty
decisions encountered and made before, having objectively cor…
new, novel, complex decisions having no proven answers.
the state that exists when decision makers have accurate and…
the state that exists when decision makers have insufficient…
programmed dicisions
decisions encountered and made before, having objectively cor…
non-programmed decisions
new, novel, complex decisions having no proven answers.
87 terms
11 Managerial Decision Making
the guidelines governing management de…
a simple formula
a business enterprise
maximize its profits
左右經營決策的準則
一個簡單的公式
企業
追求最大利潤
the guidelines governing management de…
左右經營決策的準則
a simple formula
一個簡單的公式
14 terms
MANAGERIAL DECISION MAKING
Sensitivity analysis
constraint
shadow price (dual price )
reduced cost (opportunity cost )
a process that involves determining how sensitive a solution…
a restriction on the resources available to a firm (stated in…
the increase in the objective function value that results fro…
the amount by which the objective function coefficient would…
Sensitivity analysis
a process that involves determining how sensitive a solution…
constraint
a restriction on the resources available to a firm (stated in…
12 terms
Managerial Decision Making
Decision Making
Decision Making Models
Classical Model
4 Assumptions of Classical Model
Process of identifying problems and opportunities and then re…
classical, administrative, political
Based on rational economic assumptions and manger beliefs abo…
-Problems are precise and defined... -Strive for conditions of c…
Decision Making
Process of identifying problems and opportunities and then re…
Decision Making Models
classical, administrative, political
33 terms
Managerial Decision Making
Decision making
Problem
Opportunity
Steps in decision making process
process through which managers identify and resolve problems…
a situation in which some aspect of organizational performanc…
situation that has the potential to provide additional benefi…
1. identify opportunities and diagnosing problems... 2. identify…
Decision making
process through which managers identify and resolve problems…
Problem
a situation in which some aspect of organizational performanc…
50 terms
Managerial judgment/decision making
Regression to the mean
Sports illustrated/madden jink
Natural examples of jinx
Impact of rewards
a tendency for extreme scores to get closer to the mean. b/c…
Of 2456 covers, 913 (37.2%) suffered misfortune following a c…
height of fathers and sons... - Fathers who are exactly 6 feet t…
One group of pilots in a flight school received outstanding m…
Regression to the mean
a tendency for extreme scores to get closer to the mean. b/c…
Sports illustrated/madden jink
Of 2456 covers, 913 (37.2%) suffered misfortune following a c…
42 terms
Managerial decision making
cause-and-effect diagram
five whys
scatter plot
check sheet
a graphical tool used to categorize the possible causes for a…
an approach used during the narrow in root cause analysis to…
a graphical representation of the relationship between two va…
a sheet used to record how frequently a certain event occurs.
cause-and-effect diagram
a graphical tool used to categorize the possible causes for a…
five whys
an approach used during the narrow in root cause analysis to…
16 terms
Managerial Decision Making
Decision
Decision Making
Ambiguity
Classic Model
A chic from available alternatives
The process of identifying problems and opportunities then re…
Where a goal or problem is unclear, it is hard ti see alterna…
Ideal and rational. Based on the premise that managers should…
Decision
A chic from available alternatives
Decision Making
The process of identifying problems and opportunities then re…
35 terms
Managerial Decision Making
Decision
Decision making
Types of programmed decisions
Types or non-programmed decisions
choice made from available alternatives
the process of identifying opportunities
- reoccurring problems ... - apply rule
- unique situations... - poorly defined... - unstructured... - importa…
Decision
choice made from available alternatives
Decision making
the process of identifying opportunities
12 terms
PA Managerial Decision Making
Opportunity decisions
Risk
Uncertainty
Conflict
Sporadic (opportunities to accomplish objectives)
Lack of certainty about the success of an alternative
Insufficient information of success for alternatives being co…
Internal/personal psychological (decisions), or among individ…
Opportunity decisions
Sporadic (opportunities to accomplish objectives)
Risk
Lack of certainty about the success of an alternative
11 terms
Analytics and Managerial Decision Making
STATISTICS
Descriptive Statistics
Frequency distributions
Vital Statistics
the mathematics of the collection, organization, summarizatio…
the enumeration, organization and summarization of... data (from…
a table or graph that includes a set of intervals and display…
major source of numerical information about the health of a p…
STATISTICS
the mathematics of the collection, organization, summarizatio…
Descriptive Statistics
the enumeration, organization and summarization of... data (from…
26 terms
Managerial Decision Making
A problem occurs?
Problem-Solving
An Opportunity?
Decision-Making
When performance is not meeting, or will not meet, objectives…
1)is the process of identifying possible courses of action th…
is a possible convergence of circumstances, which, if takes a…
consist of evaluating and selecting alternative solutions
A problem occurs?
When performance is not meeting, or will not meet, objectives…
Problem-Solving
1)is the process of identifying possible courses of action th…
12 terms
Managerial Decision Making
The mathematical theory behind linear…
Consider the following constraints fro…
The difference between the left-hand s…
Infeasibility in a linear programming…
Corner point or extreme point.
(0, 200)
Slack
There is no solution that satisfies all the constraints given.
The mathematical theory behind linear…
Corner point or extreme point.
Consider the following constraints fro…
(0, 200)
35 terms
3 Managerial Decision Making
Characteristics of managerial decisions
What are programmed decisions
What are nonprogrammed decisions
What is risk
Risk, uncertainty, lack of structure, conflict
Decisions encountered and made it before, having objectively…
New, novel, complex decisions having no proven answers
The state that exist when the probability of success is less…
Characteristics of managerial decisions
Risk, uncertainty, lack of structure, conflict
What are programmed decisions
Decisions encountered and made it before, having objectively…
61 terms
Managerial and Group Decision-Making
Why might an issue be considered "big"…
decision-making
managerial decision-making
steps in the decision-making process
-it impacts more than one department... -it has major cost impli…
the process of evaluating alternate options in order to take…
-not a single event but a process that involves multiple step…
1. Awareness of need for a decision... 2. Formulation of the pro…
Why might an issue be considered "big"…
-it impacts more than one department... -it has major cost impli…
decision-making
the process of evaluating alternate options in order to take…
24 terms
Managerial Decision Making
Decision Making involves managers...
What are programmed decisions ? What g…
What is a non- programmed decision?
Decision making usually occurs in an e…
scanning and responding to environmental change
are ongoing decisions that are always made. And are continuio…
Is a decision that is made in response to a stimulus that are…
Risk, uncertainty, ambiguity
Decision Making involves managers...
scanning and responding to environmental change
What are programmed decisions ? What g…
are ongoing decisions that are always made. And are continuio…
44 terms
Managerial Decision Making and OB
Design Elements (6)
The 3 C's
Types of international businesses (3)
Prospectives
• Work specialization ... • Departmentalization ... • Chain of Comm…
• Conservative ... • Complacency... • Conceited
• Borderless... • Global... • Multi domestic
• Home ... • Host... • World
Design Elements (6)
• Work specialization ... • Departmentalization ... • Chain of Comm…
The 3 C's
• Conservative ... • Complacency... • Conceited
86 terms
Chapter 3: managerial decision making
What are the characteristics of manage…
lack of structure includes:
________ are decisions encountered & m…
Programmed decisions
risk... uncertainty... lack of structure... conflict
Programmed decisions &... nonprogrammed decisions
programmed decisions are decisions encountered & made befor…
Programmed decisions are decisions encountered & made befor…
What are the characteristics of manage…
risk... uncertainty... lack of structure... conflict
lack of structure includes:
Programmed decisions &... nonprogrammed decisions
25 terms
BUS 108 (USING ACCOUNTING INFORMATION TO MAKE MANAGERIAL DECISIONS)
TYPES OF DECISIONS
Need Information (what kind?)
IDENTIFYING RELEVANT... INFORMATION
WHAT IS RELEVANT INFORMATION?
1. Accept a special order... 2. Make or buy; outsourcing... 3. Keep…
Accurate information... Timely Information - can't wait forever…
...
Information that is directly related to the decision being ma…
TYPES OF DECISIONS
1. Accept a special order... 2. Make or buy; outsourcing... 3. Keep…
Need Information (what kind?)
Accurate information... Timely Information - can't wait forever…
34 terms
chapter6: Managerial Decision Making
decision
decision making
programmed decisions
nonprogrammed decisions
is a choice made from available alternatives
is the process of identifying problems and opportunities and…
involve situations that have occurred often enough to enable…
are made in response to situations that are unique, are poorl…
decision
is a choice made from available alternatives
decision making
is the process of identifying problems and opportunities and…
40 terms
Ch. 9 Managerial Decision Making
What is a decision?
What is decision making?
Management decisions typically fall in…
What are non programmed decisions?
A choice made from available alternatives.... (e.g. An accountin…
The process of identifying problems and opportunities and the…
A decision made in response to a situation that has occurred…
A decision made in response to a situation that is unique, is…
What is a decision?
A choice made from available alternatives.... (e.g. An accountin…
What is decision making?
The process of identifying problems and opportunities and the…
12 terms
Ch. 6 Managerial Decision Making
Decision making
It is not easy to reach these decision…
Although managers know what they want…
This model of decision making suggests…
the general process of identifying issues and determining wha…
nonprogrammed decisions
uncertainty
classical model
Decision making
the general process of identifying issues and determining wha…
It is not easy to reach these decision…
nonprogrammed decisions
22 terms
Managerial Decision Making Exam 3#
Groups are designed to
Tip for Groups
Power
Criteria to measure power
Garner support... Communicate decision making rational... Provide g…
Group decision making is often better than the average indivi…
the capacity to affect the behavior of others
Number of actions, in selected type of behavior, in which pow…
Groups are designed to
Garner support... Communicate decision making rational... Provide g…
Tip for Groups
Group decision making is often better than the average indivi…
47 terms
Managerial Accounting A focus on ethical decision making Ch 6 - Activity-Based Costing
changing cost environment
Changing Production Cost structure
Methods of Allocating Overhead costs
Plantwide Overhead Rate
fundamental shift from labor-intensive to automated assembly;…
many companies cost structures are moving to a lower proporti…
Plantwide overhead rate, departmental overhead rates, activit…
historically, companies tended to use direct labor as the ove…
changing cost environment
fundamental shift from labor-intensive to automated assembly;…
Changing Production Cost structure
many companies cost structures are moving to a lower proporti…
48 terms
Chapter 3 Managerial Decision Making
prgrammed decisions
non programmed decisions
certainty
uncertainty
Decisions encountered and made before, having objectively cor…
New, novel, complex decisions having no proven answers,
he state that exists when decision makers have accurate and c…
The state that exists when decision makers have insufficient…
prgrammed decisions
Decisions encountered and made before, having objectively cor…
non programmed decisions
New, novel, complex decisions having no proven answers,
13 terms
Lecture 2 - Decision making ( managerial)
Operations management
Operations management example
Basic business functions of an organis…
The transformation process:
Operations are responsible for producing goods and services;…
. if we are given glue, paper, cardboard etc it can hold litt…
Every business typically has at least three different functio…
The transformation process changes inputs to outputs using a…
Operations management
Operations are responsible for producing goods and services;…
Operations management example
. if we are given glue, paper, cardboard etc it can hold litt…
35 terms
Ch3 Managerial Decision Making
Characteristics of managerial decisions
Programmed decisions
Nonprogrammed decisions
Certainty
Risk, uncertainty, lack of structure, and conflict are what?
Decisions encountered and made before, having objectively cor…
New, novel complex decisions having no proven answers
The state that exists when decision makers have accurate and…
Characteristics of managerial decisions
Risk, uncertainty, lack of structure, and conflict are what?
Programmed decisions
Decisions encountered and made before, having objectively cor…
23 terms
Chapter 9 - Managerial decision making
Programmed decision
Non-programmed decision
Certainty
Risk
-has information about each alternative ... -ex: oil refinery
-one time decision... -ex: apple watch
situation in which all information is fully available
future outcomes associated with an alternative are subject to…
Programmed decision
-has information about each alternative ... -ex: oil refinery
Non-programmed decision
-one time decision... -ex: apple watch
43 terms
Chapter 9 Managerial Decision Making
Decision
Decision making
Programmed Decisions
Non programmed Decisions
is a choice made from available alternatives
is the process of identifying problems and opportunities and…
situations that occur often to enable rules
are made in response to situations that are unique, are poorl…
Decision
is a choice made from available alternatives
Decision making
is the process of identifying problems and opportunities and…
17 terms
Chapter 3: Managerial Decision Making
Characteristics of Managerial Decision…
Programmed Decisions
NonProgrammed Decisions
Risk
Risk, Lack of Structure, Uncertainty, Conflict
Decisions encountered and made before, having objectively cor…
New, novel, complex decisions having no proven answers
The state that exists when the probability of success is less…
Characteristics of Managerial Decision…
Risk, Lack of Structure, Uncertainty, Conflict
Programmed Decisions
Decisions encountered and made before, having objectively cor…
46 terms
Chapter 6: Managerial Decision Making
decision
decision making
programmed decision
non programmed decision
a choice made from available alternatives
the process of identifying problems and opportunities and the…
a decision made in response to a situation that has occurred…
a decision made in response to a situation that is unique, is…
decision
a choice made from available alternatives
decision making
the process of identifying problems and opportunities and the…
27 terms
Chapter 9-Managerial Decision Making
Administrative Model
Ambiguity
Bounded Rationality
Certainty
A decision-making model that describes how managers actually…
A condition in which the goals to be achieved or the problem…
The concept that people have the time and cognitive ability t…
The situation in which all the information the decision maker…
Administrative Model
A decision-making model that describes how managers actually…
Ambiguity
A condition in which the goals to be achieved or the problem…
30 terms
ch 3 managerial decision making
characteristics of managerial decisions
programmed decisions
non-programmed decisions
certainty
-risk... -lack of structure... -uncertainty ... -conflict
have been encountered before, having objectively correct answ…
new, complex, and have no specific course of action or outcom…
decision makers have all the information and can predict cons…
characteristics of managerial decisions
-risk... -lack of structure... -uncertainty ... -conflict
programmed decisions
have been encountered before, having objectively correct answ…
32 terms
article-11 Managerial Decision Making
guideline
economist
enterprise
assertion
(n.) 指導方針
(n.) 經濟學家
(n.) 企業
(n.) 斷言, 宣稱, 聲明
guideline
(n.) 指導方針
economist
(n.) 經濟學家
Chapter 3 - Managerial Decision Making
affective conflict
bounded rationality
brainstorming
certainty
emotional disagreement directed towards other people
a less-than-perfect form of rationality in which decision mak…
a process in which group members generate as many ideas about…
the state that exists when decision makers have accurate and…
affective conflict
emotional disagreement directed towards other people
bounded rationality
a less-than-perfect form of rationality in which decision mak…
18 terms
Chapter 9 - Managerial Decision Making
Decision making
Decision
Programmed Decision
Nonprogrammed Decisions
process of identifying opportunities
choice made from available alternatives
1. Recurring Rule... 2. Apply rule
1. Unique situations... 2. Poorly defined... 3. Unstructured... 4. Imp…
Decision making
process of identifying opportunities
Decision
choice made from available alternatives
11 terms
Ch 14: Managerial Decision Making
Certainty
Risk
Objective probability
Subjective probability
The condition under which individuals are fully informed abou…
The potential harm that may arise from some decision... The cond…
Likelihood that a result will occur, based on hard facts and…
Likelihood that a specific result will occur, based on person…
Certainty
The condition under which individuals are fully informed abou…
Risk
The potential harm that may arise from some decision... The cond…
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