What Are the Two Major Types of Reports That Are

question 65

Short Answer

What are the two major types of reports that are produced by an accounting information system?

Determine product emphasis based on profitability and production constraints.

Evaluate the financial impact of discontinuing a product.

Rank products by profitability to optimize the use of constrained resources.

Make informed decisions on further processing of products or selling them as is, based on cost-benefit analysis.

---

Definitions:

Permissiveness

A management or parenting style characterized by allowing employees or children more freedom and fewer restrictions.

Rigidity

The lack of flexibility or the refusal to change opinions, behaviors, or procedures despite new information or changing circumstances.

Competent Manager

An individual who possesses the necessary skills, knowledge, and attitude to effectively lead and manage a team or project.

Performance Excellence

Achieving outstanding results and quality in tasks or duties.