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BEC > BEC 4 HW > Flashcards

BEC 4 HW Flashcards

1
Q

mnemonic: SEC consider what factor when selecting puc co for review

A

(C PERV) C=large market Cap; P=diff P/e ratio; E=affect Economy; R=issued mat Restatemnt; V=Volatility in stock

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2
Q

Information Quality

A

(FAIR) F=Fair; A=Accurate,Accessible,Appropriate, C=Current; T=Timely

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3
Q

CRIME (COSO Framework)

A

Control Environment; mgmt Risk Assess; Info & comm sys; Monitoring; Exist control activities

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4
Q

mnemonic: Components of ERM

A

(CRRRIMES) C=Control/internal enviro; R=assess Risk; R=id Risk; R=Risk response; I=Info & comm sys; M=Monitoring; E=Effective control activities; S=Setting objectives (orcS)

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5
Q

Control/Internal Environment Factors

A

(EBOCA HR) E=Ethical val & integrity; B=Board oversight; O=Org structure; C=Commitment to Competence; A=Accountability; HR=hiring, risk mgmt/appetite

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6
Q

objectives of cost accounting

A

(PIE) P=Product costing; I=Income; E=Efficiency

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7
Q

OPERATING budgets contain what factors? 4

A

(PPSS)Personnel, Production, Sales, Selling/Admin

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8
Q

3 major section of CASH BUDGET

A
  1. Cash Available; 2. Cash Disbursement; 3. Financing=line of credit
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9
Q

variable needed for flex budgets

A
  1. rev per unit; 2. vc per unit; 3. fc per unit
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10
Q

Order of budget preparation (5)

A

(Some People Make Cash Payments) 1. Sales; 2. Production; 3. Materials/Labo/OH purchased; 4. Cash; 5. Pro Forma F/s

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11
Q

3 purposes of standard costing systems

A
  1. cost control; 2. variance analysis; 3. learn from & improve processes
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12
Q

4 measures of SBU to which mgmt is held accountable

A

(CRPI=mgmt is creepy) C=Cost; R=Revenue; P=Profit; I=Investment

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13
Q

FEEDBACK w/in financial scorecards must be (AT US)

A

Accurate, Timely, Understandable, Specific

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14
Q

Factors w/in the BALANCED SCORECARD

A

(FICA) F=Financial; I=Internal bus processes; C=Customer satisfaction; A=Advancement of innovation & hr develpmnt

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15
Q

3 examples of off b/s transactions

A
  1. op lease; 2. lawsuits; 3. related party trans
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16
Q

FC / CM% =

A

Breakeven

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17
Q

Critical Success Factors are classified as 4 (hint Financial & non financial)

A

Human resource(aka Learning & Growth & Innovation), Business process, Customer satisfaction, Financial performance

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18
Q

COGM =

A

DM+DL+OH app + Bwip - Ewip

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19
Q

COGS =

A

COGM + Bfg - Efg

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20
Q

IRR =

A

Investment / Cash Flows = PV Factor

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21
Q

NPV =

A

Disc Cash Flow (after tax) - Initial Investment

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22
Q

Profitablility Index =

A

pv of future cash inflows / pv of initial investment =

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23
Q

CAPM formula =

A

Risk free rate + Beta (Market rate - Risk free rate)

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24
Q

NI / Investment =

A

ROI

25
Q

“not taking discount” Q formula =

A

(360 / pay period ‘30’ - disc period ‘10’ days) x (disc % / 100% - disc%)

26
Q

____ / Ave Ass = Ass TO

A

SALES

27
Q

Cash Conversion Cycle =

A

Invy conversion period + A/R collection period - A/P deferral period

28
Q

Invy conversion period + A/R collection period - A/P deferral period =

A

Cash Conversion Cycle

29
Q

ebitda / interest expense =

A

times interest earned

30
Q

included in disc cash flow anal 4

A
  1. future op cash save; 2. future ass dc; 3. current ass dc; 4. tax effects of future ass depre
31
Q

accounting information system (AIS) aka

A

transaction processing system

32
Q

a ____ directly outputs a report showing exceptions & control totals

A

a batch processing system

33
Q

production & test data are stored

A

SEPARATELY

34
Q

online promting’ assists in

A

accurate data entry

35
Q

preformatted screen’ assists in

A

accurate data entry

36
Q

data hierarchy

A

character, field, record, file, db

37
Q

Business Info System (BIS) consists of

A

Hardware, Software, Network, Data, People

38
Q

BIS allow a business to perform whay functions on data

A

(DePiCTS) Collect, Process, Store, Transform, Distribute

39
Q

systems programers do what?

A

work with operating systems and compilers

40
Q

systems analysts duties are oftem combined with those of

A

application programmers

41
Q

systems analysts aka

A

systems integrator with purchased systems

42
Q

the objective of data security controls is to

A

ensure storage media are subject to authoriztion prior to access, change, or destruction

43
Q

7 components of COBIT framework

A

(ICE RACE) Integrity, Confidentiality, Efficiency, Reliability, Availability, Compliance, Effectiveness

44
Q

COBIT

A

Control Objectives for Information and related Technology

45
Q

in COBIT, Integrity is

A

Accurate, Complete, Valid

46
Q

in COBIT, Effectiveness is

A

Timely, Consistent, Useful

47
Q

in COBIT, Reliability is

A

Appropriate, Relevant

48
Q

in COBIT, Efficiency is

A

Delivery of Info (bene over cost)

49
Q

COBIT IT governance 5

A

Performance Measurement; Resouces mgmt; Risk mgmt; Strategic alignment

50
Q

PO AI DS ME

A

Process & Organize; Acquire & Implement; Deliver & Support; Monitor & Evaluate

51
Q

PO & purpose

A

Proces & Organize = DIRECT PROCESS

52
Q

AI & purpose

A

Acquire & Implement = SOLUTIONS

53
Q

DS & purpose

A

Deliver & Support = SERVICE

54
Q

ME & purpose

A

Monitor & Evaulate = FOLLOW DIRECTIONS

55
Q

a ____ is the intermediary between users and programmers

A

systems ANALYST

56
Q

a ____ ensures that a message is not altered in transmission

A

digital signature

57
Q

____ is computer to computer exchange of business data

A

EDI (via Value Added Network VAN)

58
Q

____ filtering is the simplest type of firewall configuration

A

packet

59
Q

3 tier architecture consists of

A

Desktop client, Application, Database

BEC (12 decks)

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