MANAGERIAL ACCOUNTING a When engaged in evaluating a project, adding, or eliminating a product, or entering a contact, creating an action plan to improve performance, both financial and non-financial data must be considered. For the items listed below, please explain why each are important and give an example how it can affect a decision External Factors o Economic conditions o Population attitude o Industry Type Type of business o Problems within the industry Company Internal Factors o Financial Situation o Management Problems continued) o Employees o How does the decision fit in with the company's corporate culture? o Short-term and/or long-term effect o In line with the company's expertise