Planning and Control Decision: Planning decisions involves selecting organization goals, estimating results under different alternative ways to attain those goals, and deciding how to achieve the expected goals. It involves communicating the goals and how to attain them to the entire firm. Control decisions involve taking actions to implement planning decisions, and deciding on how to evaluate performance and providing feedback and learning to improve future decision making. To indicate: The executive who is primarily responsible for each activity.

Question

Explain how knowledge of managerial accounting can assist a manager with regard to the following concerns: He is deciding whether to push through with a project. He is determining whether a branch is profitable or not. He is deciding whether to process a certain product further before selling. He would like to show to the Board of Directors how the business is financially performing and how cash is being used. He would like to plan for the year so that he will be prepared to deal with shortage of cash fund.

Answer 1

Question

Chapter 1, Problem 1.32P

1.

To determine

Planning and Control Decision:

Planning decisions involves selecting organization goals, estimating results under different alternative ways to attain those goals, and deciding how to achieve the expected goals. It involves communicating the goals and how to attain them to the entire firm.

Control decisions involve taking actions to implement planning decisions, and deciding on how to evaluate performance and providing feedback and learning to improve future decision making.

To indicate: The executive who is primarily responsible for each activity.

2.

To determine

The types of training or experience G would find most useful for the CFO position.

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