Question

The value of information is the difference between the benefits realised from using that information and the costs of producing it. Would you, or any organisation, ever produce information if its expected costs exceeded it benefits? If so, provide some examples. If not, why not?(pls i need a different answer from the textbk answers). can i get a different example from what you have online and textbk pls. something different from the tax reports required by the IRS and disclosure requirements for financial reporting.

Answer 1

Generally, it is very difficult to get accurate estimates related to cost involved in the production of information. However, organisations always make efforts to generate such information that has more benefits compared to its cost. The production, generation or presentation should be made compulsory requirements by government departments or private organisations. Examples of such mandatory requirement related to value information may include financial, audit, tax and corporate governance reports required by IRS as well as schedules disclosing various parts of financial reports.