Managerial Emphasis Chapter 11 Decision Making and Relevant Information Copyright © 2013 Pearson Canada Inc. 11 - 1 Cost Accounting: A Managerial Emphasis Decision Model • The process of making a choice‚ often involving both quantitative and qualitative analyses • Quality of the choice depends upon the qualify of the information obtained – Perfect information is never available 1 Copyright © 2013 Pearson Canada Inc. 11 - 2 Cost Accounting: A Managerial Emphasis Decision Model • May involve more
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working towards a specific target making the workplace environment more engaged and successful in meeting the target which would result in the target being achieved. The appropriate methods of data / information gathering that I suggest are used in order to gather the data / information identified in part 1b) are as follows: Qualitative research can answer certain important questions more effectively and efficiently than quantitative research. The advantage that qualitative research have
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MBTI/Personality type Taking The MBTI test is a good step that provides insights into behaviour help people understand themselves as well as understanding other people that they are in daily contact with‚ so that they can find a way to making things work properly. The MBTI measures four preferences: Focus of attention‚ Acquiring information Making decisions‚ and External orientation.In my opinion this test is a very important step if you were in a position to select a team members or if you were
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The process of effective communication is the exchange of information. The goal of communicating is to getting the message across with clarity and understanding between each party. We all express ourselves in different ways and those ways can vary depending on our culture. Communication plays a vital role in our life. You send days constantly communicating with fellow classmates‚ family‚ strangers‚ teachers‚ and friends. As we communicate with our peers broaden our horizons of speech and move forward
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CHAPTER 11 DECISION MAKING AND RELEVANT INFORMATION 11-16 (20 min.) Disposal of assets. 1. This is an unfortunate situation‚ yet the $75‚000 costs are irrelevant regarding the decision to remachine or scrap. The only relevant factors are the future revenues and future costs. By ignoring the accumulated costs and deciding on the basis of expected future costs‚ operating income will be maximized (or losses minimized). The difference in favor of remachining is $2‚000: (a) (b) Remachine Scrap
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Managing Communications‚ Knowledge and Information Assignment Title: Communications Portfolio Tutor’s Name: Maurice Manktelow Learning Outcomes Covered: 1 Assess information and knowledge needs internally and externally to improve decision making and taking 2 Create strategies to increase personal networking to widen involvement in the decision-making process 3 Develop communication processes to improve the gathering and dissemination of information and organisational knowledge 4 Design and improve
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such as direct labour hours. In contrast‚ ABC approaches cost from the perspective that products do not cause costs. It requires activities which are the causes of all costs incurred so it allocates manufacturing overhead according to the activities needed to produce the products. Therefore‚ it highlights the existence of non value added activity which is not existed under traditional method. ABC also differs from conventional costing in the use of several cost pools when allocating the overhead costs
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The Data/Information/Knowledge/Wisdom Continuum The Data/Information/Knowledge/Wisdom Continuum Data‚ information‚ and knowledge are words used to assign meaning to our complex nursing work. In the field of information technology‚ these words are used to give meaning and direct the flow of organizational knowledge (Thompson & Warren‚ 2009). The concept of the data-information-knowledge-wisdom (DIKW) continuum is the transformation of data into wisdom through cognitive processes‚ which are
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From Data‚ Information and Knowledge to Wisdom The data-information-knowledge-wisdom (DIKW) continuum is a concept of the transformation of data into wisdom through cognitive processes. DIKW was initially used to illustrate principles of information management for the designing of information systems (Davenport & Pursak‚ 1989)(Saltworks‚ 2009). DIKW models utilized by nursing such as the model by Englebart & Nelson (2002)‚ incorporate principles of increasing complexity due to increasing
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the effective operation of the information technology systems is vital to the continuation of business. However‚ a corporation of 600 staff poses unique security challenges‚ many of which are satisfied with the implementation of an operational training program completed by all staff. This plan was developed‚ in part‚ to address issues identified in the security audit of 2007. Some of the issues raised have been addressed through the implementation of the Technical Systems and Information Technology
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