By Jae K. Shim
Have you ever lately been promoted? Are you beginning a brand new enterprise? Do you unexpectedly locate you should understand extra approximately funds than you ever anticipated, yet haven't any time for formal education? if this is the case, you wish Accounting and Finance for the Non-Financial government. no matter if you're a newly promoted heart supervisor or government, a advertising supervisor of a small corporation, an entrepreneur, or personal your individual enterprise, your effects may be measured in cash and cents. you want to be aware of the fundamentals of finance and accounting to make sound enterprise judgements and turn into successful.Shim indicates you the recommendations for comparing funding judgements corresponding to go back on funding research. you will discover what you want to comprehend, what to invite, which instruments are very important, what to seem for, what to do, and the way to do it. effortless to learn and worthy, the e-book provides many sensible examples, illustrations, instructions, measures, principles of thumb, graphs, diagrams, and tables that make comprehending the topic easy.Accounting and Finance for the Non-Financial govt prepares you for extra managerial obligations. you can be larger built to arrange, appraise, evaluation, and approve plans to complete departmental pursuits. it is possible for you to to again up your ideas with conscientiously ready monetary help. whether or not they are in response to advertising, construction, or group of workers, via studying how one can imagine when it comes to finance and accounting you could intelligently exhibit your principles.
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It is easier to adjust variable cost than ﬁxed cost when demand for your products decline. 10 — Assume that ﬁxed costs were $40,000 in 2000 and $55,000 in 2001, and that variable costs were $25,000 in 2000 and $27,000 in 2001. The operating leverage in 2001 compared to 2000 was higher, as indicated by the increase in the ratio of ﬁxed costs to total costs. Hence, there is greater earnings instability. 11 — Assume that your selling price is $30 per unit, your variable cost is $18 per unit, your ﬁxed cost is $40,000, and your sales volume is 8,000 units.
Product A Maximum possible production Contribution margin per unit Total contribution margin * ** 5,000 units* × $2 $10,000 Product B 2,000 units** × $4 $8,000 (10,000 hours/2 hours) (10,000 hours/5 hours) Again, product A should be produced since it contributes more than product B ($10,000 vs. $8,000). 8 DO NOT FORGET THE QUALITATIVE FACTORS In addition to the quantitative factors, incremental qualitative factors must also be considered in the decision making. Qualitative factors, which are difﬁcult to measure in terms of money, include: How to Make Short-Term, Nonroutine Decisions 1.
Also, new material waste will decline as the operation attains increased maturity. 8 WHAT YOU CAN LEARN FROM THE JAPANESE Japanese manufacturing companies place high standards on quality, timely delivery, and low-cost production. To lower costs they reduce the number of parts and use standard parts across product lines with a variety of products. Japanese companies also recognize that the best area to support low-cost production is usually in a product’s design stage. They design and build products and sell them at prices that will ensure market success.