, a key technique in managerial accounting/finance is the use of “Cost Benefit Analysis” to help management make better business decisions.
- Define this approach in your own words and discuss 2 applications of this concept in your current work environment (examples might include make vs. buy, plant location, new product or packaging, downsizing, acquisition/divestiture, etc.).
- Discuss a variable or assumption within the project where the data was difficult to obtain — and what you did to develop a reasonable assumption for the project economics.
- Additionally, share or create one example where using financial data and cost benefit analysis that did, or could have, led to a better decision.
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