|From Left: Vice President Amissah-Arthur, Former President JJ Rawlings, Current President John D. Mahama|
In accounting terms, irrelevant cost is a cost that will not change as the result of a management decision. However, the same cost may be relevant to a different management decision. Consequently, it is important to formally define and document those costs that should be excluded from consideration when reaching a decision.
A sunk cost is a cost that an entity has incurred, and which it can no longer recover by any means.
A group calling itself Volta Youth for Development, which claims to be non-partisan, has issued a statement describing Vice-President Kwesi Amissah-Arthur as an “incompetent” deputy to President John Mahama, and called for his replacement with Speaker of Parliament Edward Doe Adjaho.
The former head of the Political Science Department at the Kwame Nkrumah University of Science and Technology (KNUST), Dr Richard Amoako Baah, has said a female running mate for President John Mahama will be a good idea.
According ACCRA24.COM, others too consider Minister of Foreign Affairs Hannah Tetteh and Mawuena Trebarh, CEO of the Ghana Investment Promotion Centre (GIPC).
But in all these actions, GHANAsky.com analyst confirmed it is irrelevant cost or sunk cost. And President Mahama need to focus on his purpose and not thinking about change of vice president.
Source: ACCRA24.COM / GHANAsky.com