The four basic characteristics of information that a manager would find useful are accuracy, timeliness, completeness, and relevancy. Which do you think is the most important? Why? Find an example from a big organisation (500 - 750 words with references).© BrainMass Inc. brainmass.com October 25, 2018, 8:02 am ad1c9bdddf
In the process of communication, information can be useful only, when it is accurate and relevant. Moreover, information is important, when it has characters to timeliness and completeness (Griffin, 2007). These are the basic characters of useful information and without having these features, information has no value.
Accuracy: Information should be accurate, so that it has a value for the manager to use and take further steps as per available information. Accuracy of information can be understood as the reliability and validity of the message and data. If the information is not reliable and valid, it has no value (Konda, 2008). It is an important element of the information because, it shows the reality, so that the communicators can believe on the information. For example, if a finance manager needs to calculate the profitability of the firm, he should have exact and real data.
Timeliness: This is the second characteristic of the information, which enhances its value for a manager. Timeliness means, information should communicate and receive ...
Characteristics of information are examined.
Information Needs of Users Based on Qualitative Characteristics
The objective of general purpose financial reporting is to provide financial information about the reporting entity that is useful to users of financial statements...in making decisions about providing responses to the entity (IFRS, 2013).
I need you help me to
(a) Discuss the information needs of users in terms of the qualitative characteristics of financial information.
(b) Critically evaluate how financial information can meet both investor and stewardship needs.
You may use the article, In Defense of Stewardship by David Oldroyd and Anthony D. Miller.View Full Posting Details