provides financial information about one’s business to the internal and external users such as managers, investors, creditors and etc. Users need information to help in planning, decision-making, evaluating and controlling their business or investment. The information is generally in the form of financial statement where they can show where the money is spent, helps to assess performance over a period and helps to identity problems and opportunities. Users also use the financial information to make resource
describe qualities of relevance except: A. B. C. D. Relevant information is future oriented. Relevant information differs between the alternatives. Relevant information requires a high degree of precision. Relevant information includes qualitative as well as quantitative data. 2. Select the correct statement regarding relevant costs and revenues. A. Relevant costs are also known as avoidable costs. B. Relevant costs are future-oriented. C. Relevant revenues must differ between the alternatives. D.
employees, customers, or communities could create future financial problems for the company. (Horngren et al, 2008) In an ideal situation, information for decision making should be both perfectly relevant and precisely accurate. However, in reality, such information is often too difficult or too costly to obtain. The degree to which information is relevant or precise often depends on the degree to which it is qualitative or quantitative. (Horngren et al, 2008) Since primary classification of costs
the Most Relevant Data When Choosing a Performance-Measurement System, Instead of the Most Convenient Data. According to Kaydos (1998), getting the most relevant data assists the organization to come up with an effective performance measuring system. Further, deriving the most relevant data enables the creation of a system that is relevant to the organization and easy to use. Moreover, Kamensky & Morales (2005) note that the most relevant data is useful to managers for making decisions, instead of
disclosure of PP&E as per AASB116 and Western area’s disclosure on the PP&E of financial statement. It firstly outlines the objective of the general purpose financial reporting of company and its relevance to the qualitative characteristics such as relevant, faithful representation, timeliness, verifiability, comparability and understandability. It will then go on investigates and analyze Western area’s current general purpose financial reporting and its future advices. In particular, this report will
sources used in the research. Lastly, clinicians apply the information collected and integrate it with their clinical skills, patient preferences and values. The balance between knowledge, experience, and information gathering, characterizes the process of clinical decision-making, a process through which clinicians ascertain the right course of action. (Vincent et al., 2015). The ability to make relevant and suitable clinical decisions via this process determines the clinician’s effectiveness.
process information endogenously determine the communication mode and the transfer of knowledge. In contrast with the economic literature, which focuses on the (mostly costless) transmission of soft and hard information, it models communication as a moral-hazard-in-team problem, in which the sender and receiver select persuasion and message elaboration eﬀorts. The paper shows how strategies and outcomes depend on whether the receiver needs to absorb the content in order to act (executive decision-making)
year, and is hesitant to make any decisions that will reduce short-run operating income and his performance evaluation. While the prospective replacement equipment promises to reduce cash operating costs, it costs $90,000, as well as the loss on disposal cost of the old equipment, which has not fully depreciated. Prior to making a decision, Mr. Fitzgerald must identify all relevant costs and chose a decision for the best interest of Shamrock (Datar,
plant, and equipment be more or less relevant than the current cost amounts reported by companies in England, Mexico, or elsewhere?RelevanceInformation is relevant when it influences the economic decisions of users by helping them evaluate past, present, and future or by confirming or correcting their past evaluations. Relevance is also affected by materiality. Information has the quality of relevance when it is 'capable of making a difference in the economic decisions of users by helping them evaluate