Question

Research Take Away

Take Away:

1. What is one significant research take-away have you gained that you will use going forward in your academic or professional career?

2. Explain why you chose this and how you will use this new knowledge.

Answer 1

Of all of the topics, I find cost-volume-profit analysis to be most beneficial in my career as a controller. It is technique to measure how changes in cost and sales volume impact the profit of a company. It acts as an effective tool effective tool that also helps me to engage in decision making in regard to the future operations; and also to concentrate on the relationship among cost, revenues, and changes in volume, taxes and profit. Thus the biggest benefit of CVP analysis is the evaluation of the cost volume changes within a company and the impact of these changes on generation of revenue. By analyzing the relationship between revenues and costs it is helpful in selecting the most profitable product. Cost-volume-profit analysis is also an effective tool for controlling the unnecessary production as well as distribution costs

answered by: anonymous