week 4 - management accounting

what is the acronym for traditional investment appraisal?§

DCECRRERMWM

what is the acronym for strategic investment appraisal?

RESTJ

finish the sentence for traditional investment appraisal: need to provide

need to provide definite crisp estimate

finish the sentence for traditional investment appraisal:only considers

only considers cash flows relevant to the project

finish the sentence for traditional investment appraisal: uses

rational economic analysis

finish the sentence for traditional investment appraisal: adopts the

adopts the rational model aimed at wealth maximisation

finish the sentence for strategic investment appraisal: coupling of

coupling of rational economic analysis with strategic thinking and judgement

what is the acronyms for fuzzy set theory?

MDMU abd AHDMQAR

what does MDMU stand for?

the mathematical concept of fuzzy set theory allows for decision makers to account for uncertaintywh

what does AHDMQAR stand for?

the analytical hierarchy framework process allows decision makers to quantify non-financial quantities for project attributes and risk

what is the limitations of fuzzy set theory acronym?

CMSMLSSCPDM

what does CM stand for in fuzzy set theory?

involves complex mathematics

what does SM stand for in fuzzy set theory?

does not provide a single measure

what does LSS stand for in fuzzy set theory?

design of linguistic scale is subjective

what does CPDM stand for limitations in fuzzy set theory?

final choice depends on the preferences of the decision maker

what is the acronym for balanced scorecard?

VCSAAP, FMCF and FSF

what does VCSAAP stand for in balanced scorecard?

provides visibility of critical success factors to facilitate the assessment of alternative projects

what does FMCF stand for in balanced scorecard?

provides framework to identify missing cash flows

what does FSF stand for in balanced scorecard?

facilitates the strategic fit test

what is the acronym for limitations in balanced scoredcard?

TDESDWGRLC

what does TD stand for in balanced scorecard limitations?

no time dimension

what does ES stand for in balanced scorecard limitations?

lack of empirical support

what does DWG stand for in balanced scorecard limitations?

determination of relevant weights of various goals

what does RLC stand for in balanced scorecard limitations?

relationships are logical rather than causal