CVP Analysis in Making Informed Decisions: Managerial Essay

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CVP Analysis in Making Informed Decisions:

Managerial accounting is basically about making informed business decisions and incorporates various tools and approaches. One of the most powerful techniques available for managers to crunch numbers, obtain a thorough understanding of a situation, and conduct a what-if evaluation is Cost-Volume-Profit (CVP) analysis. The foundation to a strong and successful business venture is a clear understanding of the financial effect that most basic decisions may have. Cost-Volume-Profit (CVP) analysis helps in answering some of the basic questions regarding business operations.

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This is primarily because it is a means of evaluating the relationship between the business fixed and variable costs, volume, and profits. Generally, CVP analysis provides three major tools i.e. contribution margin analysis, breakeven analysis, and operating leverage.

For an entrepreneur starting a business, CVP analysis is a helpful tool for making informed business decisions. The individual can use this tool to make informed business decisions through determining the breakeven point, which is the volume of….....

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