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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.
Organizing (1) It is the establishment of the framework within which the required activities are to be performed and the designation of who should perform such activities. It inc
JIT purchasing arrangements JIT philosophy also extends to adapting JIT purchasing techniques whereby delivery of material immediately precedes their use. By arranging with sup
Competition oriented pricing policy Most companies fix the price of their products after a careful consideration of the competitor's price structure. Deliberate policy may be f
Linear Programming This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured
M/s ABC is seeing relaxing its collection efforts. At current its sales are as Rs.40 lakhs, the ACP is here 20 days and variable cost to sales ratio is .8 and bad debts are as .05
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I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO
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using the operating cycle and any financial management knowledge discuss the applicability of such cycle to poultry business in Uganda (consider broilers)
In this method, approximation of various assets here excluding cash and including liabilities are made getting into consideration the transactions in the ensuring period. Afterward
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