Class notes
Relevent Costs Notes - Managerial Acocunting
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Questions are provided with answers: 1. We know that the controllable benefits less the controllable costs of an option equal its value. Can focusing only on relevant costs and benefits ever give us value? 2. Many decisions often involve qualitative factors. How can you reconcile this fact with the concept of relevant costs? 3. Every relevant cost is controllable. However, not all controllable costs are relevant. Why are both statements correct? 3. When might the magnitude of a sunk cost be relevant for a decision? How do you reconcile this answer with the maxim that a sunk cost is not relevant for decision making? (Hint: Consider taxes or a decision maker’s reputation.)
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Connected book
Studyguide for Managerial Accounting by Balakrishnan, Ramji, ISBN 9781118385388
- juni 2014
- 9781497014466
- Unknown
Written for
- Institution
- Emory University
- Course
- Managerial Accounting
All documents for this subject (2)
Document information
- Uploaded on
- October 31, 2017
- Number of pages
- 3
- Written in
- 2017/2018
- Type
- Class notes
- Professor(s)
- Unknown
- Contains
- All classes
Subjects
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managerial accounting
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relevant costs
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sunk cost
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decision making
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costs and benefits
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qualitative factors
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controllable costs
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non controllable costs
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irrelevant cost
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value
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