Cost-Volume-Profit Analysis Stephanie Bowens, Janette Cruz, Noelle Lang, Velavan Nedunchezhiyan, and Judy Robertson ACC/561 Accounting November 11, 2013 Grace Kalil Managerial accounting is key part of manager's jobs. Part of it is that managers need to forecast monthly, quarterly and yearly expenses, tracking their actual expenses at the end of each cycle and determine if they stayed within their budget. Typically managers in several departments
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potential venture Will anyone buy the product or service? Can it make a profit? While the questions are straightforward, the answers are anything but. These two simple questions quickly lead you to a raft of others that you will address in the following sections: • Opportunity or need • Product/Service description • Target market • Unique benefits • Competitive analysis • Sustainable competitive advantage? • Risks • Profitability, break-even and investment required • Conclusions • Recommendations For high-tech
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Add Map! 4 Aims and Objectives (P1) 5 Action Plan (P1) 6 Swot analysis (P1) 7 Business threats 7 Legal Considerations (P1) 8 Proprietor’s background (P3.1) 11 Personal Development Plan (P3.2) 13 Market research Plan (P2.1) 14 The target market (P2.2) 15 The customers (P2.3) 16 The competition (P2.4) 17 The competition (P2.5) 18 Test marketing/ prospective clients (P2.6) 20 Advertising plan (P2.7) 21 Promotion (P2.8) 22 Sales plan (P2.9) 22 Production plan (P4.1) 23
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Threat of Substitute Products means how easily your customer can switch to your competitors product. When there many actual and potential substitute products available in the target market, then the segment is unattractive. On the other hand, the lack of close substitutes products makes an industry less competitive and increases profit potential for the firms in the industry. An example of threat of substitutes is the beverage industry. There are many competitors in
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that companies must break down internal barriers between departments in order to quickly recognize and address quality problems. In other words, each department in an organization is an internal customer of the other departments and all must work together if the whole unit, i.e. company, is to be successful (Break down barriers, 1994). The Japanese were inspired by the work of Deming and Peter Drucker, and they have worked to develop two operational methods that serve to break down the barriers between
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ch01 29. The set of activities that transforms raw resources into the goods and services of an organization is called: A. Value chain. B. Supply chain. C. Demand chain. D. Cost-benefit analysis. 30. Which of the following activities would not be considered a value-added activity? A. Production B. Marketing C. Accounting D. Distribution 31. Which of the following statements is false? A. In essence, the value chain and the supply chain are similar; each creates something for which the
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advertising and get professional people to keep updating the website. The target audience are mainly women age 23-46. I would set up my Islamic shop as a sole trader. A sole trader is a person who sets up and owns their own business. In my Islamic shop I would employ three staff to help around in the shop, one would be responsible to update the website and make sure that it is very attractive so that it grab the attention of my target audience also they would be working in store (taking orders over the
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ACC 560 WK 5 Quiz 5 - All Possible Questions To Purchase Click Link Below: http://strtutorials.com/ACC-560-WK-5-Quiz-5-All-Possible-Questions-021.htm ACC 560 WK 5 Quiz 5 - All Possible Questions TRUE-FALSE STATEMENTS 1. An activity index identifies the activity that has a causal relationship with a particular cost. 2. A variable cost remains constant per unit at various levels of activity. 3. A fixed cost remains constant in total and on a per unit basis
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or other measure of a good or service. Customer Value-Based Pricing: is the practice of setting the price of a product or service at its perceived value to the customer. This approach tends to result in very high prices and correspondingly high profits for those companies that can persuade their customers to agree to it. It does not take into account the cost of the product or service, nor existing market prices. Good-Value Pricing: is offering just the right combination of quality and good service
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For example, budgets are used to: * Control income and expenditure (the traditional use) * Establish priorities and set targets in numerical terms * Provide direction and co-ordination, so that business objectives can be turned into practical reality * Assign responsibilities to budget holders (managers) and allocate resources * Communicate targets from management to employees * Motivate staff * Improve efficiency * Monitor performance Whilst there are many uses
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