Quantifying-Project-Cost-Benefits.pptx
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This document discusses quantifying the costs and benefits of projects, including financial benefits that profit a company versus economic benefits that benefit society. It provides examples of indirect and intangible benefits such as job creation and health benefits, as well as intangible and opportunity costs like decreased productivity during construction or lost benefits from alternative uses of the project site. The document also outlines methods for cost-benefit analysis, such as net present benefit, benefit-cost ratio, and internal rate of return.
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Class 02 Managerial Accounting chapter 2.pptx
Managerial accounting, also known as management accounting, is a branch of accounting that deals with the identification, measurement, analysis, interpretation, and communication of financial information to internal users, primarily managers, to aid in their decision-making process.
Unlike financial accounting, which is primarily concerned with reporting financial information to external stakeholders such as investors, creditors, and regulators, managerial accounting is focused on providing information to managers within an organization. This information is used for planning, controlling, and decision-making purposes to help achieve the organization's objectives.
One of the key functions of managerial accounting is cost accounting, which involves the allocation and analysis of costs associated with producing goods or providing services. Cost accounting techniques, such as job costing, process costing, and activity-based costing, help managers understand the cost structure of their products or services and make informed decisions regarding pricing, production, and resource allocation.
Managerial accountants also play a crucial role in budgeting and forecasting. They work closely with managers to develop budgets for various aspects of the organization, such as sales, production, and capital expenditures. By comparing actual performance against budgeted targets and analyzing variances, managerial accountants help identify areas of concern and opportunities for improvement.
Another important aspect of managerial accounting is performance evaluation. Managers rely on financial and non-financial performance measures to assess the effectiveness of their decisions and the performance of their departments or divisions. Key performance indicators (KPIs) such as return on investment (ROI), profitability ratios, and customer satisfaction scores provide valuable insights into the organization's overall performance and help managers identify areas that require attention.
In addition to providing quantitative information, managerial accountants also analyze qualitative factors that may impact decision-making, such as market trends, competitive pressures, and regulatory changes. They use tools such as cost-volume-profit (CVP) analysis, sensitivity analysis, and scenario planning to evaluate the potential outcomes of different courses of action and mitigate risks.
Overall, managerial accounting plays a vital role in helping managers navigate the complexities of modern business environments by providing timely, relevant, and reliable information to support decision-making and drive organizational success.
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This document provides an overview of different types of costs that are relevant for business. It defines and gives examples of various costs including actual costs, opportunity costs, sunk costs, incremental costs, explicit costs, implicit costs, book costs, out of pocket costs, accounting costs, economic costs, direct costs, indirect costs, controllable costs, non-controllable costs, historical costs, replacement costs, shutdown costs, abandonment costs, urgent costs, business costs, fixed costs, variable costs, total costs, average costs, marginal costs, short run costs, and long run costs. The document is a presentation on costs submitted by a student for their coursework.
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This document provides an overview of different types of costs that are relevant for business. It defines key cost terms like actual cost, opportunity cost, sunk cost, incremental cost, explicit cost, implicit cost, book cost, out of pocket costs, accounting costs, economic costs, direct costs, indirect costs, controllable costs, non-controllable costs, historical costs, replacement costs, shutdown costs, abandonment costs, urgent costs, business costs, fixed costs, variable costs, total costs, average costs, marginal costs, short run costs, and long run costs. Examples are provided for most cost types.
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This document provides an overview of various cost concepts used in business analysis. It discusses the differences between fixed and variable costs, opportunity costs and outlay costs, short-term and long-term costs, explicit and implicit costs, past and future costs, economic and accounting costs, incremental and sunk costs, avoidable and unavoidable costs, replacement and historical costs, shutdown costs and abandonment costs, and traceable and common costs. The key purpose is to explain these cost classification systems that are important for business decision making.
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Costcurves
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3. In the long run, all costs are variable so there is a U-shaped long run average cost curve from economies and diseconomies of scale. Marginal cost is the change in total costs from a unit change in output.
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Managerial accountants also play a crucial role in budgeting and forecasting. They work closely with managers to develop budgets for various aspects of the organization, such as sales, production, and capital expenditures. By comparing actual performance against budgeted targets and analyzing variances, managerial accountants help identify areas of concern and opportunities for improvement.
Another important aspect of managerial accounting is performance evaluation. Managers rely on financial and non-financial performance measures to assess the effectiveness of their decisions and the performance of their departments or divisions. Key performance indicators (KPIs) such as return on investment (ROI), profitability ratios, and customer satisfaction scores provide valuable insights into the organization's overall performance and help managers identify areas that require attention.
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2. Long-run costs have no fixed costs since all inputs are variable. Long-run total and average costs depend on minimum costs of production at different output levels. Long-run marginal cost is the change in total cost from a change in all variable inputs.
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cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
South African Journal of Science: Writing with integrity workshop (2024)
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Librarians are leading the way in creating future-ready citizens – now we need to update our spaces to match. In this session, attendees will get inspiration for transforming their library spaces. You’ll learn how to survey students and patrons, create a focus group, and use design thinking to brainstorm ideas for your space. We’ll discuss budget friendly ways to change your space as well as how to find funding. No matter where you’re at, you’ll find ideas for reimagining your space in this session.
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- 1. Quantifying Project Costs & Benefits
- 2. Financial vs. Economic Benefits • Financial Benefit – profit of the company • Economic Benefit – profit or benefit of the society
- 3. Quantifying Benefits • Indirect Benefits Examples: Job generation, creation of supporting livelihood, increased business tax for city/municipality • Intangible Benefits • Example: Increased convenience for students and faculty, health benefits of the residence due to clean environment
- 4. Quantifying Costs • Intangible Cost Example: Decreased productivity levels in nearby office building and faculty building during construction • Opportunity Costs • Examples: Lost benefits from alternative IGPs that could have also been built on the site. Lost benefits from the original use of the site a an agricultural production area
- 5. COST-BENEFIT ANALYSIS (CBA) • Net Present Benefit (NPV) • Benefit-Cost Ratio (BCR) • Internal Rate of Return (IRR)