Discussion topic

Financial and Managerial Accounting

Financial and Managerial Accounting

by Maisha Mariam Meem -
Number of replies: 0

Records are important for their content and as evidence of communication, decisions, actions, and history. Records support openness and transparency by documenting and providing evidence of work activities and by making them available to the public. Information plays a crucial role in planning and decision making in organisations. Information‐rich managers build up information networks actively and demonstrate an open‐minded willingness to expose themselves to, and trade, information with others. They harness ideas and knowledge to policy and are characterised as being those decision makers most implicated with framing policy. Theirs is information which goes beyond subject domain boundaries. They show awareness of semantic and psycho‐social barriers in information acquisition and handling, and are motivated to adopt the utility‐benefit approach to information in their company.