The Five-Step Decision-Making Process
From my Cost Accounting textbook: Identify the problem and uncertainties Obtain information Make predictions about the future Make decisions by choosing among alternatives Implement the decision, evaluate performance, and learn straightforward…
Mindblogging
Inspired by lots of fresh air After lots of hours cramped in front of my books, trying to catch up with my studies, I went jogging for a couple of rounds on the Finnenbahn ( a sawdust track ) in the woods. Usually I find running around in circles boring. But today I didn’t mind […]
Calculating Present Value
Note to myself. Of no public interest whatsoever. An exciting topic that is virtually knocking me off my feet. Present value of a future payment is the amount that one must have today to yield that payment at the future date, given the opportunity rate. One way to calculate this is to use present value […]