Even if managers have incomplete information or constraints, they still must make choices. This session provides advice for navigating rocky decision-making terrain encountered by managers who must make choices despite imperfect information and/or constrained resources.
DESIGNED FOR
Accountants and other business professionals who make management decisions.
BENEFITS
After attending this presentation, you will be able to...
- Analyze decisions using relevant factors
- Recall fundamental cost-volume-profit techniques
- Determine plans that optimize profitability when a constraint exists
- Formulate strategies for reducing the impact of constraints
- Apply techniques to derive conclusions when complete information is unavailable
- Utilize Excel capabilities to support analysis
- Identify qualitative factors that may influence production decisions
HIGHLIGHTS
The major topics that will be covered in this course include:
- Decision-making fundamentals
- Cost-volume-profit refresher
- Optimization analysis
- Constraint mitigation strategies
- Coping with incomplete information
- Solver and other Excel capabilities
- Qualitative considerations
PREREQUISITES
Basic working knowledge of managerial accounting.
ADVANCE PREPARATION
None