Accounting for Decision Making and Control

Borton's Development Framework

Description

From the group assignment in this module, we learnt the impact of accounting on business decision making. For instance, we were given a case study and asked to calculate the break-even point, sensitivity analysis, segment margin analysis and so on.

The Analysis

Being able to calculate the break-even point is especially important for a business. This allows the business owners to understand the minimum number of goods needed to be sold or services needed to be provided to keep the business running.

Synthesis

This group assignment allowed me to better understand how accounting can be applied in businesses for decision making and control. Also, I gained a better understand of the role of accounting in everyday decision making in business. It would also be especially useful for accounting students who are interested in starting a new business. Overall, this allowed students to appreciate accounting better.