Managing in a global, digital society requires accountants to pay c...

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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.
Required Readings
Management Misinformation Systems (Russell L. Ackoff)
CPA Horizons 20225 Report (AICPA) Paper Layout
Part I (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.
Part II (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.
Part III (Framework for Information Management): You will review the CPA Horizon Report (see attachment). After reviewing the report, you will describe how the CPA Horizon Report will help accountants to provide their managers with the right information at the right time in the right format. You will identify and describe three key skills that are not listed in the report that will allow accountants to produce the right information for their managers and their users. One of the skills you propose must be one that addresses the advances in technology. Finally, you will explain how your degree from UMUC and this class will help you to ‘embrace the future’ as noted in the report.

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These solutions may offer step-by-step problem-solving explanations or good writing examples that include modern styles of formatting and construction of bibliographies out of text citations and references. Students may use these solutions for personal skill-building and practice. Unethical use is strictly forbidden.

Assumption 1: Give them more
Russell Ackoff hit the nail on the head by declaring that the MIS systems were designed under the theory that managers needed a lot of relevant information but with that they ended up suffering under a overload of irrelevant information. He further explains that not only are the managers flooded with information out of which less than half are the ones solicited, the information is never filtered or condensed and even those solicited are many a time redundant
This assumption cannot be undertated even in today's world. If Ackoff recogniized an overload of information in a world full of information on paper and print media, one can imagine what level of information passes over through the manager\s hand in today\s paperless and digital world.
A striking example of this in today\s world is social media where there are attempts to condense “BIG DATA” for managerial purpose, managers would be better off to rely on concrete information than the BIG DATA analysis reports. The main reason being these information turn redundant at a very rapid pace.
Assumption 2: The manager needs the information that he wants
Russell next explains that when faced with the question of what information he would like to have, mangers generally tend to seek maximum amount of information because of the phenomenon of scientific economy: “ the less you understand a phenomenon the more variables you require to explain it.” Therefore he seeks to have maximum information possible to help make his decisions. This drives MIS designer to up the already overflowing level of information
In today's modern businesses, where the roles and responsibilities of managers are clearly defined, the manager has a clearer knowledge of what is sought from him. To this end he can gather only the required information through various search facilities available on almost all MIS systems as well as ERP systems...

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