ACC 564 Week 1 Discussion

ACC 564 Week 1 Discussion 1 "Value of Information" Please respond to the following:
•	Firms realize that in order to make money, they have to invest money. This can be attributed to the information that the firm relies on. As discussed in the text, there are seven characteristics of useful information. From the first e-Activity and assuming that you are new CFO of Strayer University, identify the top-three characteristics you would rely on the most for improving the profitability of the firm. Provide an example of how each characteristic would directly help the firm in terms of profitability.
•	On the other hand, public and private firms are accountable to a wide range of regulators and stakeholders. Of the seven characteristics, identify the top three that would be applicable to meeting the needs of regulators and stakeholders. Provide an example of how each characteristic would directly help the firm in terms of meeting the needs of these key regulators and stakeholders
Week 1 Discussion 2
"Impact of Design of an Accounting Information System (AIS)" Please respond to the following:
•	Some of the world- most successful companies (Fortune 500) operate multiple lines of business. Despite this fact, many of these firms rely on a single AIS. From the second e-Activity, for the business you researched, examine how its lines of business would affect the design of a new AIS.
•	If the business was selecting a new AIS, examine how the business model would affect the design of a new AIS
 


7 Characteristics of Useful Information:
Relevant	Reduces uncertainty, improves decision making, or confirms or corrects prior 				expectations.
Reliable		Free from error or bias; accurately represents organization events or activities.
Complete	Does not omit important aspects of the events or activities it measures.
Timely		Provided in time for decision makers to make decisions.
Understandable		Presented in a useful and intelligible format.
Verifiable	Two independent, knowledgeable people produce the same information.
Accessible	Available to users when they need it and in a format they can use.