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Six Key Steps To Differential Analysis 1. Identify the alternatives What options are you picking between? 2. Identify the criteria for choosing among them Relevant costs and relevant benefits 3. Focus on the future costs and benefits that differ between the alternatives - Differential costs and differential revenues - costs and revenues that differ between the two alternatives - Incremental cost - a cost increase between the two alternatives - Avoidable cost- a cost that can be eliminated by choosing between the two alternatives 4. Ignore the sunk costs they are always irrelevant 5. Ignore the common costs that do not differ between the alternatives 6. Identify any opportunity costs - they are always relevant