Paper Homework
Managing in a global, digital society requires accountants to pay close attention to information. One of the reasons accountants have to pay close attention to information is because management will use the information presented by accountants for making crucial decisions. Finally, accountants must have the correct skills to perform this and other key functions.
Paper Layout
Section 1: Information Management Today
Roughly 50 years ago, Russell Ackoff wrote about the importance, or lack of importance, of information that management needs in "Ackoff's Management Information System" (see attachment). After reading the article, you will analyze how each assumption applies or does not apply to our society today. Treat each assumption separately in your analysis. As part of your response, provide a specific example for each assumption.
Section 2: Information Management Revisited
After reading the Ackoff article, you will revise each of 5 assumptions to reflect a global, digital society. You will provide a summary (at least four sentences) that describe each revised assumption in detail and how they reflect our global, digital society.
Section 3: Framework for Information Management
You will review the CPA Horizons Report and the Competency Framework. After reviewing the reports, you will describe how these reports will help accountants to provide their managers with the right information at the right time in the right format.
Section 4: Skills
Take a moment to skim through the World Economic Forum report. Pay close attention to the "Pilar III - People" section. After reviewing this report and the Financial Management in the Future report (see attachment) , identify and discuss three skills that accountants are lacking that limits their ability to produce the right information for management and users. NOTE: One of the skills you propose must be one that addresses the advances in technology (see the Financial Management in the Future attachment for a reference to advances in technology).
Section 5: Conclusion
Explain how your degree from UMGC and this class will help you to be a better person that ‘embraces the future' and 'creates value' for your firm, based upon the key themes covered in this homework.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.