Accounting Cases- Kaplan University

Mar 31st, 2015
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Kaplan University
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When Mr. Drucker says, "Be data literate" he means that one should know how to use data effectively to the company's benefit. There are two challenges that one faces in attempting to be data literate. The first challenge is deciding what information to use, what is should be used for and how it should be used.

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Chapter 1Question 1.1 When Mr. Drucker says, "Be data literate" he means that one should know how to use data effectively to the company's benefit. There are two challenges that one faces in attempting to be data literate. The first challenge is deciding what information to use, what is should be used for and how it should be used. The second challenge is how to test and put the data together with the existing information system to make them effective in a company's decision process. The most difficult challenge will be bringing the computer based data processing and the accounting system together to ensure the most beneficial decisions for a company.Question 1.2 The best combination of paradigms for the 21st century as Ferrara sees it is a combination of Paradigms C and D. This may even be amplified by adding elements of Paradigm B. Although Paradigm D is effective and efficient it is not sufficient alone. Paradigm D uses the concept of price led costing and focuses on the issue of continuous improvement but it does not take into consideration the actual costs which should be determined by using the ABC method because it is more precise. This is where the notion of Paradi

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