TAILIEUCHUNG - Lecture Fundamentals of cost accounting - Chapter 4: Fundamentals of cost analysis for decision making

Lecture Fundamentals of cost accounting - Chapter 4: Fundamentals of cost analysis for decision making. Now that you are comfortable with CVP analysis and the impact of fixed versus variable costs, we can extend the concepts and apply the theories to a multitude of business conditions. | Fundamentals of Cost Analysis for Decision Making Chapter 4 Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Now that you are comfortable with CVP analysis and the impact of fixed versus variable costs, we can extend the concepts and apply the theories to a multitude of business conditions. Differential Analysis . 1 Use differential analysis to analyze decisions. Differential analysis: The process of estimating revenues and costs of alternative actions available to decision makers and of comparing these estimates to the status quo Short run: The period of time over which capacity will be unchanged, usually one year 4 - Now that you see the value of CVP analysis for decision-making, let’s move on to other decisions. In Chapter 1 we discussed differential costs and differential revenues. Today, every decision that a manager makes requires comparing one or more proposed alternatives with the status quo. Differential analysis is the process of estimating revenues and costs of alternative actions and comparing these estimates to the status quo. Differential analysis is used for both short-run decisions and long-run decisions. Short run is defined as the period over which capacity will be unchanged. Differential Costs With two or more alternatives, costs that differ among or between alternatives Costs that change in response to an alternative course of action Differential costs differ between actions. Alternative A Alternative B LO1 4 - Remember from Chapter 1, differential costs differ between actions. In Chapter 1, Carmen was trying to decide whether she should expand her cookie operations or not. In Chapter 1, you looked at Carmen’s differential revenues and differential costs to determine if it was beneficial for Carmen to expand. If a cost is differential, or differs between alternatives, it is relevant to the decision-making analysis. Differential costs are sometimes called relevant costs. If the cost .

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