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BEC > B6: Grab Bag > Flashcards

B6: Grab Bag Flashcards

1
Q

What are the main steps for process management?

A 
PDCA
Plan
Do
Check
Act
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2
Q

What are the conforming costs and nonconforming costs?

A

AP IE
Appraisal
Prevention

Internal failure
External failure

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3
Q

What is prevention?

A 
prevent production of defective units
training
inspection
maintenance
redesign product and process
high quality suppliers
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4
Q

What is appraisal?

A 
discover and remove defective parts before they are shipped to the customer or the next department
stat quality checks
testing
inspection
maintenance of lab
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5
Q

What is internal failure?

A 
cure defect before product sent to customer
rework
scrap
tooling changes
cost to dispose
cost of lost unit
downtime
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6
Q

What is external failure?

A 
cure defect after product sent to customer
warranty
cost of returns
liability claims
lost customers
reengineering external failure
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7
Q

What is the relationship between conforming and non-conforming costs?

A

Inverse

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8
Q

What is the focus of TQM?

A 
customers
continuous improvement
quality circles
top mgmt support
objective measures
timely recognition
ongoing training
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9
Q

What is the main objective of Kaizen continuous improvement?

A

ensure resource usage stays within cost

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10
Q

What is the difference between BPR and BPM?

A

Radical change
vs.
Incremental change

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11
Q

What is the focus of lean mfg?

A

use of only resources required to meet customer requirements

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12
Q

What is the objective of theory of constraints?

A

Maximizing throughput by identifying and alleviating constraints

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13
Q

What is the common measure for globalization?

A

World trade growth as a percentage of GDP

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14
Q

What are the 2 main attributes of globalization?

A

comparative advantage

increased specialization

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15
Q

What is power held in a single nation called?

A

unipolar

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16
Q

What is a repatriation restriction?

A

company invests money in foreign country but cannot bring that money back to home country

17
Q

What are the advantages and disadvantages of ST financing?

A

increased liquidity
increased profitability
decreased financing cost

increased interest rate risk
decrease capital availability

18
Q

What are the advantages and disadvantages of LT financing?

A

decreased Interest rate risk
increased capital availability

decreased profitability
decreased liquidity
increased financing costs

19
Q

What criteria must a lessee meet to qualify as a capital/finance lease?

A 
must meet one of the following:
OWNS
Ownership transfer at end of lease
Written bargain purchase option
Ninety percent of FV from lease pmts
Seventy five percent of asset's economic life committed in lease term
20
Q

What is a debenture?

A

unsecured obligation of the issuing company

21
Q

What are the two broad categories of risk?

A 
DUNS
Diversifiable
 Unsystematic (nonmarket/firm specific)
Nondiversifiable
 Systematic (market)
22
Q

How do we calc effective interest rate?

A

interest paid / net proceeds received

23
Q

How do we calc annual percentage rate?

A

effective period rate x # compounding periods

24
Q

How do we calc effective APR?

A

((1 + stated rate)^ # of compounding periods) - 1

25
Q

What is the effect of currency appreciation?

A

outflows decline

inflows increase

26
Q

What is the effect of currency depreciation?

A

outflows increase

inflows decrease

27
Q

What categories make up financial risk?

A 
Interest
Market
Purchasing power
Liquidity
Default
28
Q

Which things fall under mandatory guidance?

A

Definition of internal auditing
International standards
Code of ethics

29
Q

Which things fall under endorsed and strongly recommended guidance?

A

Position papers
Practice advisories
Practice guides

30
Q

How do we calculate Price to Earnings Growth?

A

PEG = (Po/E1) / G

31
Q

What is transaction risk exposure?

A

possibility that the currency in which a transaction is denominated will be adversely affected by the currency in which the transaction is settled is referred to as transaction exposure risk

32
Q

What is a firewall?

A

system of user identification and authentication that prevents unauthorized users from gaining access to network resources
network node used to improve network traffic and to set up a boundary that prevents traffic from one network segment from crossing over to another

33
Q

What is the imputed rate used in the residual income approach?

A

target return on investment set by the company’s management

34
Q

What is strategic risk?

A

risk of choosing inappropriate technology

35
Q

What is financial risk?

A

financial resources lost, wasted, or stolen

36
Q

What is information risk?

A

risk of loss of data integrity and that of incomplete transactions

37
Q

What is included in the risk assessment portion of internal control framework?

A

financial reporting objectives and risks

fraud risks

38
Q

How do we calc times interest earned ratio?

A

EBIT / Interest Expense

BEC (6 decks)

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