Accounting in business decisions: theory, method, and use
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Accounting in business decisions: theory, method, and use by Homer A. Black

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Published by Prentice-Hall in Englewood Cliffs, N.J .
Written in English


  • Accounting.,
  • Industrial management.

Book details:

Edition Notes

Bibliographical footnotes.

Statement[by] Homer A. Black, John E. Champion [and] R. Gene Brown.
ContributionsChampion, John E., Brown, R. Gene.
LC ClassificationsHF5635 .B663 1967
The Physical Object
Paginationxxii, 964 p.
Number of Pages964
ID Numbers
Open LibraryOL17757218M

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Decision-making in Management Accounting In management accounting, decision‑making may be simply defined as choosing a course of action from among alternatives. the application of accounting in the business sector has become an indispensable factor. Company Secretary has to provide the complete and accurate information about the financial operations of the company to management for decision making. This emphasises that the books of account are to be maintained accurately, up-to-date and as per the norms. the accounting process. The people who take policy decisions and frame business plans use such information. All business organisations work in an ever-changing dynamic environment. Any new programme of the organisation or of its competitor will affect the business. Accounting serves as . Accounting Theory and Policy Making. The relationship between accounting theory and the standard-setting pro-cess must be understood within its wider context, as shown in Exhibit We caution that Exhibit is extremely simplistic. Economic conditions have an impact on both political factors and accounting theory. Political fac-.

accounting information in decision making, we shall represent them in Figure 1. Figure 1. Role and importance of accounting information in decision making Source: Own projection The performances of of any economic system depend on the quality of decisions and the speed with which action is taken to eliminate the causes in this context. 8 Accounting theory and conceptual frameworks After studying this chapter you should be able to: & explain what accounting theory is & describe the main attempts at constructing an accounting theory & appraise current developments in the area & describe and discuss the contents of the IASB Framework & appraise the quality and usefulness of the IASB Framework in the context of its. accounting for managerial decisions page 4 index unit particulars page no. 1. introduction 5 2. cost concepts and classification 9 3. emerging costing approaches 14 4. capital investment process 19 5. risk analysis in capital budgeting 38 6. cvp analysis and decision making 42 7. cost volume profit analysis (c.v. p analysis) 49 8. managerial.   Accounting theory is a set of assumptions and methodologies used in the study and application of financial reporting principles. The study of accounting theory involves a review of .