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.
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