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Attributes of good information1) Information is anything that is communicated and is sometimes said to be processed data. It is data processed in such a way as to be of meaning to the person receiving it. Good information should have the following attribute:2) It must be relevant to a user’s requirements. For the communicator this requires the following:3) Recognizing the user: Information must be suited and sent to the right person i.e. the person who needs it to do his job.4) Getting the principle right: It is effective only when it helps the user to make decisions.
5) Getting the volume correct: Information must be complete for its purpose and should not omit any necessary item. It should be no greater in volume than the users would find helpful or be able to take in.6) It should be accurate in the user’s requirements i.e. must be accurate and error free.7) It must inspire the user’s confidence i.e. information must not give the user any reason to distrust it, disbelieve it or avoid it by making sure the information is neutral.8) It must be timely: The information must be readily available within the time period which makes it useful. It must be at the right position at the right time.9) It should be properly communicated: Information will misplace its value if it is not clearly communicated to the users in a suitable format and through a suitable medium.10) It must be cost effective: Good information should not cost more than it’s worth. Gathering, storing, retrieving and communicating an item of information may require expenses in form of time, energy and resources. If the expense is greater than the potential value of the item, then it should not be communicated.
Representation of Simplex method We shall use the example previously stated for the graphical solution. The standard form of the model is given by: Maximize : Z = 3X E + 2
Classification of ratio according to significance The ratios have also been classified according to their significance. Some ratios are more important than other and the fir
VALUE ADDED STATEMENTS Are intended to show how much wealth or value has been created by the company’s operations and how the wealth has been shared out to interested groups e.
It is the most practical way of estimating working capital needs. In such method, the finance manager gets ready a working capital forecast. While preparing such forecast, firstly
According to the Philadelphia Inquirer, in 2004 the city of Philadelphia planned to spend $14 million to convert the Convention Center into an appropriate venue for the Republican
Anthony''s Orchards Consultancy report
using the operating cycle and any financial management knowledge discuss the applicability of such cycle to poultry business in Uganda (consider broilers)
Cash discount is given to buyers to bring them to make prompt payment. The credit terms identify the percentage discount and the period throughout which it is obtainable. Liberal c
JIT purchasing On the other hand is a purchasing system in which material purchased are contracted so as that the receipt and usage of materials to the maximum extent possible,
When the customers of the company are spread over broad geographical areas then in place of a particular collection centre the company opens collection centres at the regional stag
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