How Can the Value of the Information Produced by an Accounting

question 27

Essay

How can the value of the information produced by an accounting information system be determined? What would a measurement and verification expert think about quantification and verification of such information?

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Definitions:

Capable

Possessing the ability, fitness, or quality necessary to do or achieve a specified thing.

Center Line

In statistical process control charts, the center line represents the mean value of the quality characteristic being measured.

Control Limits

Refer to the statistical bounds within process control that signal when a process might be going out of control or is otherwise operating outside of its expected range.

Special Cause Variation

Variation in a process caused by identifiable factors, typically indicating that the process is not in control.