decision making

The act of deciding between alternative courses of action. In the running of a business, accounting information and techniques are used to facilitate decision making, especially by the provision of decision models, such as discounted cash flow, critical-path analysis, marginal costing, and breakeven analysis.
See also: relevant cost

Accounting dictionary. 2014.

Look at other dictionaries:

  • Decision making — For Decision making in groups, see Group decision making. Sample flowchart representing the decision process to add a new article to Wikipedia. Decision making can be regarded as the mental processes (cognitive process) resulting in the selection …   Wikipedia

  • Decision-making software — (DMS) is a term integrating decision analysis tools to facilitate a person s decision making process, which results in a choice of a course of action or a variant among several alternatives. DMS belongs to the class of decision support systems… …   Wikipedia

  • Decision-making paradox — The word paradox (parádoxon (παράδοξον) in Greek) comes from the Greek words para (meaning against, contrary to) and doksa or doxa (meaning belief, understanding). A paradox is a seemingly true statement or group of statements that lead to a… …   Wikipedia

  • Decision making models — All people need to make decisions from time to time. Given limited time in formulating policies and addressing public problems, public administrators must enjoy a certain degree of discretion in planning, revising and implementing public policies …   Wikipedia

  • Decision-making models — All people need to make decisions from time to time. Given limited time in formulating policies and addressing public problems, public administrators must enjoy a certain degree of discretion in planning, revising and implementing public policies …   Wikipedia

  • Consensus decision-making — is a group decision making process that seeks the consent, not necessarily the agreement, of participants and the resolution of objections. Consensus is defined by Merriam Webster as, first, general agreement, and second, group solidarity of… …   Wikipedia

  • Dynamic decision-making — (DDM) is interdependent decision making that takes place in an environment that changes over time either due to the previous actions of the decision maker or due to events that are outside of the control of the decision maker.[1][2] In this sense …   Wikipedia

  • Rational Decision-Making Model — The Rational Decision Making Model is a process for making logically sound decisions. [Robbins, Stephen P., and Timothy A. Judge. Organization Behavior. 12th ed. Upper Saddle River, New Jersey: Pearson Prentice Hall, 2007. 156 158.] The model… …   Wikipedia

  • Responsible decision making — People have different ways of making decisions. Inactive decision making is delaying a decision in the hope that the situation will resolve itself. Reactive decision making is allowing the views and opinions of others to determine your decision.… …   Wikipedia

  • Naturalistic decision making — The naturalistic decision making (NDM) framework emerged as a means of studying how people actually make decisions and perform cognitively complex functions in demanding situations. These include situations marked by time pressure, uncertainty,… …   Wikipedia

  • Participation (decision making) — Participation in social science is an umbrella term including different means for the public to directly participate in political, economic, management or other social decisions. Ideally, each actor would have a say in decisions directly… …   Wikipedia


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