Five characteristics of high quality information are accuracy, completeness, consistency, uniqueness, and timeliness.
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They are often called the annual report. A large range of information is available online at your fingertips. Some of it is useful, most of it is not. Accountants are increasingly having to deal with growing quantities of information and many are having to search for relevant information as part of their jobs.
Some of these activities are designed to develop your skills of searching for information, identifying relevant and useful information and filtering out the rest. These are key skills for accountants and ones that will become increasingly more important.
Some activities may feel long and repetitive, but remember that you are learning how to do something that is really only learnt through practice. Do your best to persevere and spend the recommended time on the exercise. It will be worth the pain of getting used to it!
Activity 11 Go to the website http: Spend at least 30 minutes looking at some of the annual reports of the companies it contains.
Take five minutes to write down your thoughts. That is, it must serve a purpose. Information must be useful to someone or it is not worth producing it.
Imagine that you decided you wanted to extend your knowledge of accounting beyond this course, and decided to buy a copy of Business Accounting 1 by Frank Wood and Alan Sangster. You want the book in the next week, but unfortunately, your local bookshop has none in stock.
Your bookshop manager tells you that they could order one, but that it would take three weeks before the bookshop would have it for you.
When you explain that you want it urgently, the manager gives you the phone number of another bookshop five miles away, together with the correct area code. You phone the other bookshop. It has a copy in stock and you are able to go there and purchase it that day.5 The characteristics of ‘good’ information.
6 Accounting and the objectives of the firm. Variety of business objectives. Conflicting objectives. Conclusion. Keep on learning. Introduction to the context of accounting. 5 The characteristics of ‘good’ information. For information to be useful in decision making, the organization must improve the quality of its business information.
To improve the quality of information, it must have certain characteristics and meet certain plombier-nemours.comn criteria. Information must be less costly than the value it provides; Improving information management in an organisation is a simple matter of addressing the activities involved in producing the information that impact the 10 criteria above.
USING INFORMATION Characteristics of Information. Good information is that which is used and which creates value. Experience and research shows that good information has numerous qualities.
Characteristics of good quality information can be defined as an acronym ACCURATE. These characteristics are interrelated; focus on one automatically leads to focus on other. Information should be. Nov 16, · The first characteristic is Relevance. The information that a person uses must be relevant to the current problem at hand.
If the information is not relevant it .