Cost Benefit Analysis Assignment help
According to the business analysis assignment help experts, the concept of cost benefit analysis can be explained as the tool to analyze the poetical or performance of the company on a planned action. It is also used to
make decision or different strategies by evaluating the cost of the particular action and forecasting future benefits (Florio, 2007). It enables the management to opt the best option among several alternatives. In order to perform a cost benefit analysis, four common steps are followed such as identification of project and its alternatives, quantitative description of inputs and output variables associated with each alternative, values estimation of cost and expected benefits and comparison of different cost and benefits. Different types of firm uses this analysis for different purposes.
Use of Cost-Benefit Analysis in Public Budgeting and Governmental and Non-Profit Accounting In different organization cost-benefit analysis is conducted for different purpose. The basic purpose of cost benefit analysis is to analyze the effectiveness of decision of investment. In the public budgeting process, cost-benefit analysis is used to offer maximum benefits in monetary terms to the society for the proposed projects and plans (Sarmiento, n.d.). It facilitates the budget makers to get reliable sources and ensure long term economic growth. On the other hand our assignment help stated that at different level of governmental accounting the cost-benefit analysis is used to compare the cost of different projects and ensure that the decision made by government will be sound to have good returns.
It is also helpful to take a quick review of available accounting numbers, so that government can take decision to use new equipments, technology, increase number of employees to increase productivity, etc. (Florio, 2007). In the non-profit organization, cost benefit analysis is used to assess the effectiveness of social and development events, cost associated with the activities for the welfare of society and the expected returns from those events. This also assists the management to choose the best programs for social welfare with maximum returns in monetary terms (Mishan, 2007). Thus, cost-benefits analysis is useful in all the aspects of social and corporate world. References Florio, M. (2007). Cost-Benefit Analysis and Incentives In Evaluation: The Structural Funds of the European Union. Great Britain: Edward Elgar Publishing. Mishan, E.J. (2007). Cost Benefit Analysis (5th edition) Routledge Sarmiento, H.M.A., et al. (n.d.). Cost Benefit Analysis for Budgeting Offices. Retrieved from http://www.nclgba.org/winter09/caprandolph.pdf
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