Unit 2 Managerial Accounting

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a. What is information made of? Information is processed data , in other words we do something with data in order to produce information. Information is made of data which has a meaningful context meaning that this data must be clear and has a reason behind it. Also, in order for information to be good it should be accurate, timely, relevant , sufficient and worth its cost. b. If you have more information, do you weigh more? Why or Why not? Weight is not relevant in this case because information is an intagible thing that cannot be weighted nor quantified. For example, some information can be meaningful and important to a certain person while it is not worthy to another one. c. If you give a copy of your transcript to a prospective employer,…show more content…
And that data should be meaningful in context. Also, it should be useful to the user in order to be beneficial. e.Explain how you think it is possible that we have an industry called the information technology industry, but we have a great difficulty defining the word information. Because both terms are different from one another. We have a difficulty in defining information because it differs from one person to another and what this person consider as good information . As for information technology it is the technology of processing, planning, designing..etc using software and computer systems. Question # 2: Tangible costs of Information systems: Costs of new equipment, cost of installing equipment and machines, training costs, maintenance costs and new personnel and staff costs. Intagible costs of Information systems: Losses due to low productivity , waste of time needed to train existing employees, low morale of staff, no satisfaction of employees when seeing the end result of their work, upsetting customers from system change. Tangible measures of the Value of information system: Better quality of work, more automation so less wastes, accurate work, no human…show more content…
I have to hire a high number of employees if they are the ones who are supposed to choose the suppliers, as they will get through many steps so I would hire a certain number of employees at each stage. In the case of an automated system there will be no need to hire a lot of employees just few who deal with the system. c. My criteria of hiring employees will be based on the system itself. For example, if the system is automated, I would hire employees who are well trained to deal with technology and have the technical skills needed to operate my machines and be able to work with the whole system. However, if the system is manual I would hire intelligent employees who are good in dealing with people. They should be good with understanding and analyzing the suppliers to be able to determine which suppliers suit the company best. d. If the suppliers were to be chosen manually, there will be management practices because I have to monitor the employees as well as the suppliers. Observe their work and productivity to evaluate them. If the company’s system is automated there is a much less need for management practices as the system is the one choosing the
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