Types of Information
The information which induces action is an action information, while information which communicates only the status of a situation is called a no action information. Similarly a report generated at regular intervals is a recurring information, while the reports which are not repeated over regular intervals are non recurring information.
Based on the above definitions the following the following classification of information can be made-
1. Bank branch dealing with savings account
Customer details – it is meant for account opening so it is action information and is non recurring in nature.
Customer transaction records – it may be case specific if after transaction the minimum account balance is not there , or large sum is withdrawn a notification might reach the customer which makes it an action information. It is based when transaction is made so non recurring in nature.
Employee’s salary amount – it leads to monthly deposit of salary in employees account, so it is action information. Also it is recurring in nature (yearly revision or depending on company policy).
Cash flow statements – non action information , recurring in nature(monthly).
Rules and regulations – action information as transactions are done based on it, it may be updated based on environment (as and when required) so it is non recurring in nature.
Central branch notice – mostly action information as it indicates changed set of rules, it may not be regular so non recurring in nature.
Passbook updation – non action information and recurring in nature (monthly basis).
2. Distributor of a passenger car
Stock statements – action information , recurring in nature
Dealer’s/ retailers records – non action information, non recurring
Purchase order (to company) – action information , non recurring in nature(based on market demand)
P & L statements – non action information, non recurring in nature
Balance sheets – non action...