A wise manager is one who keeps a check on costs and makes informed decisions based upon the understanding of these costs.
To prepare for this Discussion, “Shared Practice: The Impact of Sunk, Opportunity, and Accounting Costs,” refer to your Learning Resources for this week and your professional experience. Then, select one of the following types of costs: sunk costs, opportunity costs, or accounting costs, and think about a scenario where this type of cost was important for informing decision making. Think about another scenario where this type of cost was important for furthering stakeholder agendas.
Post by Day 3, the following:
Provide an explanation of a scenario of how the type of cost you have selected (sunk, opportunity, or accounting) has impacted an organizational decision.
Provide an explanation of a scenario of how the type of cost you have selected (sunk, opportunity, or
Zimmerman, J. L. (2014). Accounting for decision making and control (8th ed.). New York, NY: McGraw-Hill.
Chapter 2, “The Nature of Costs” (pp. 22–54, 78–79)
P2-41, “Happy Feet” (p. 78–79)
This chapter reviews costs and the decision making process as they relate to opportunity cost and other examples of cost including sunk costs. accounting) may be used to further stakeholder agendas.
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