Index Numbers

THE BASIC IDEA BUILDING UP AN INDEX NUMBER Introduction In commercial and economic affairs (and in some others, too) there are some very important quantities which are too complex to be measured directly; such things, for example, as the “level Read More …

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Measures of Dispersion

INTRODUCTION   TO DISPERSION In order to get an idea of the general level of values in a frequency distribution, we have studied the various  measures  of  location   that  are  available.  However,   the  figures  which  go  to  make  up  a distribution Read More …

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Probability Defination

ESTIMATING PROBABILITIES Introduction Suppose someone tells you “there is a 50-50 chance that we will be able to deliver your order on Friday”. This statement means something intuitively, even though when Friday arrives there are only two outcomes. Either the Read More …

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Business Process Re-Engineering

BUSINESS PROCESS RE-ENGINEERING Read this section to understand what business process re-engineering is. Also think about how business process re-engineering affects systems development and its influence on organisational performance (see the Case study). Business process re-engineering involves focusing attention inwards Read More …

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Benchmarking Defination

BENCHMARKING BENEFITS AND DIFFICULTIES Traditionally, control involves the comparison of actual results with an internal standard or target. The practice of setting targets using external information is known as benchmarking. The value of external data to management accounting systems is Read More …

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