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Comparing Incremental And Comprehensive Analyses Essay

635 words - 3 pages

Incremental Analysis vs. Comprehensive Analysis
The decision making process is considered to be one of the most complicated business process. This is mainly because of the procedures that managers use to come up with a decision. Managers must take into consideration many aspects of the organizations before coming to a conclusion. In addition, they must weigh the different alternatives available and choose one that is in line with the company’s vision and mission. The best alternative is not necessarily the cheapest one available but one that offers the greatest benefits with few or no limitations. Incremental and comprehensive methods of decision making are at managers’ disposal. While comprehensive analysis seeks to analyze all financial data of the company past and present, incremental analysis only analyzes financial information that changes amongst the alternatives available. In this perspective, the final solution presented through incremental analysis is as effective as the one given by comprehensive analysis whilst incremental analysis remains more affordable and less complicated.
Comprehensive analysis seeks to access and analyze all kind of financial data available from the company. It also seeks to analyze the financial data for all alternatives presented. All data from the past and the presented must be analyzed conclusively in a comprehensive analysis. This kind of analysis seeks to come up with a complete picture of what the alternatives have to offer to the company (Weygandt, Kieso & Kimmel, 2010). All costs that were incurred in the past are analyzed and future costs are also projected. Deep research has to go into conducting a comprehensive analysis. One of the setbacks of conducting a comprehensive analysis is the time consumed. In order to access all the financial data required for the analysis, adequate time must be provided. In addition to this, adequate resources must be provided in conducting a comprehensive analysis. This may result in wastage of time and resources on...

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