ACC 561 Week 4 Learning Team Reflection Cost Volume Profit
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ACC 561 Week 4 Learning Team Reflection Cost-Volume-Profit
University of Phoenix
ACC/561
Week 4 Learning Team Reflection
Whereas Wiley eloquently states that Cost-Volume-Profit (CVP) is the examination of numbers and values or more specifically the study of the effects of changes in costs and volume on a company's profits, it is at its most basic level so much more; it is essentially the study of relationships. It explores the production of a particular item along with its associated costs and production volumes and evaluates the relationship shared with a company's ultimate goal; profit. Within this, "study of relationships," it also examines the effects of change on the relationships between cost, volume and profit. Utilized properly, a CVP analysis can be a company's greatest tool...