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Decision Making Techniques |Pricing|Costing|ACCA|CIMA|F5|
Rating: 4.3 out of 5(83 ratings)
4,050 students

Decision Making Techniques |Pricing|Costing|ACCA|CIMA|F5|

Study with award winning and rank holder faculties.
Created byACCA Classes
Last updated 4/2020
English
English [Auto],

What you'll learn

  • CVP Analysis - Calculations
  • CVP Analysis - Graphs
  • Decision Trees and Value of Information
  • Elasticity of Demand, Demand Equation and MR MC Approach
  • EV, Maximax, Maximin and Minimax Regret - Risk and Uncertainty
  • Factors Affecting Price and Demand
  • Further Processing & Shutdown Decisions
  • Limiting Factor Analysis and Outsourcing
  • Pricing Strategies
  • Production Planning with Limiting Factor
  • Relevant Costing

Course content

1 section • 8 lectures • 1h 56m total length

  • CVP Analysis - Calculations11:29

    Explore cost-volume-profit analysis to relate contribution, fixed costs, and variable costs, and calculate break-even points. Learn to handle multi-product scenarios with constant mix, weighted contribution, and margin of safety concepts.

  • CVP Analysis - Graphs10:57

    Learn to plot CVP analysis graphs that show fixed and variable costs, total cost, revenue, break-even points, and margins of safety, including multi-product cost behavior and mix considerations.

  • Production Planning with Limiting Factor17:17

    Develop production planning under a limiting factor by maximizing the combined contribution of products A and B given mixing and shaping hour constraints and a B demand cap.

  • Factors Affecting Price and Demand12:57

    Explore how price and demand move in opposite directions and outline factors shaping demand, such as income, substitutes, tastes, expectations, obsolescence, and elasticity.

  • Elasticity of Demand, Demand Equation and MR MC Approach16:40

    Explore elasticity of demand, derive the demand equation from data, and apply the MR-MC approach to profit maximization with clear, step-by-step methods.

  • Pricing Strategies9:08

    Explore pricing strategies like cost-plus pricing, marginal cost, and break-even analysis. Compare skimming and penetration, complementary products, product line pricing, price discrimination, and dynamic pricing.

  • EV, Maximax, Maximin and Minimax Regret - Risk and Uncertainty20:38

    Evaluate risk and uncertainty through decision techniques like expected value, maximax, maximin, and minimax regret to choose production levels under different economic states.

  • Decision Trees and Value of Information17:37

    Explore how decision trees quantify risk with the value of perfect and imperfect information, using probability-weighted outcomes and rollback analysis to choose optimal decisions.

Requirements

  • No

Description

In this course, we will be talking about: 

  • Basics of cost, volume, profit and sales and different formulas to calculate production volume for break even, target profit, etc.

  • Understanding and plotting cost, profit, sales on graphs based on production volume and identifying break even, margin of safety, etc

  • Solving production problems with limiting factor through linear equations and graphical approaches.

  • How different factors affect price and demand.

  • Sensitivity of relationship between price and demand, using the demand equation and MR MC approach to calculate profit maximization level of output.

  • Different pricing strategies and their application.

  • Understanding characteristics of relevant costs and how to calculate relevant cost of material and labour.

  • Quantitative analysis of further processing decisions and shutdown decisions.

  • Different decision rules for different risk appetites under different conditions.

  • Decision trees, rollback analysis and how to calculate value of perfect and imperfect information.


Who this course is for:

  • association of chartered certified accountants
  • costing ca final
  • costing cpa
  • costing methods
  • acca
  • acca uk
  • Chartered Institute of Management Accountants (CIMA)
  • Cost Accounting
  • Cost Accountant

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