Choose one of the following.
Option 1) As you’re learning in assignment 2, a key technique in managerial accounting/finance is the use of “Cost Benefit Analysis” to help management make better business decisions. Define this approach in your own words and discuss 1-2 applications of this concept in your current work environment (examples might include make vs. buy, plant location, new product or packaging, downsizing, acquisition/divestiture, etc.). Discuss a variable or assumption within the project where the data was difficult to obtain — and what you did to develop a reasonable assumption for the project economics. Additionally, share or create one example where using financial data and cost benefit analysis did or could have led to a better decision.
Option 2) Describe your company’s financial forecasting or annual budget process. What is your involvement in the process? What works well? What doesn’t work? If you were CEO/CFO, what changes would you make and why? And how would you communicate to employees the value that the process brings to the business?
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