The primary goal of managerial accounting is to supply internal decision-makers with the information necessary to make good planning and cost-control decisions. While data, research studies and ...

Jason Fernando is a professional investor and writer who enjoys tackling and communicating complex business and financial problems. Somer G. Anderson is CPA, doctor of accounting, and an accounting ...

Future events are far from certain in the business world. This is especially true for smaller businesses, which tend to have more volatility than larger organizations, or newer businesses without a ...

All sorts of physical processes in this analog world exhibit some degree of randomness. Think of noise, for example. Many noisy processes are described by Gaussian probability distributions. We should ...

Several people each express their opinion of an uncertain quantity by providing their mean and standard deviation of it. In this paper we discuss the problem of incorporating all these opinions into a ...

In the Bayesian framework, quantified judgments about uncertainty are an indispensable input to methods of statistical inference and decision. If a decision maker has little knowledge with regard to ...