Question

Enumerate information needs of management.


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Answer 1

Answer:

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The informational needs of management are:

• They require data for decision making and business planning.
• To prepare reports related to funds, costs and profits to ascertain the soundness of the business.

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Answer 2

Answer:

The informational needs of management are:

1. They require data for decision making and business planning

2. To prepare reports related to funds, costs and profits to ascertain the soundness of the business

3. They need to compare current financial statements with its own historical financial statements and of other similar firms to assess the operational efficiency of the businesses

Explanation:

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