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BEC > BEC 6 > Flashcards

BEC 6 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

CRIME (COSO Framework)

A

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

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3
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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4
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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5
Q

objectives of cost accounting

A

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

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6
Q

OPERATING budgets contain what factors? 4

A

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

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7
Q

3 major section of CASH BUDGET

A
  1. Cash Available; 2. Cash Disbursement; 3. Financing=line of credit
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8
Q

variable needed for flex budgets

A
  1. rev per unit; 2. vc per unit; 3. fc per unit
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9
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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10
Q

3 purposes of standard costing systems

A
  1. cost control; 2. variance analysis; 3. learn from & improve processes
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11
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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12
Q

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

A

Accurate, Timely, Understandable, Specific

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13
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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14
Q

3 examples of off b/s transactions

A
  1. op lease; 2. lawsuits; 3. related party trans
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15
Q

IT Components

A

(P HaNDS) People; Hardware; Network; Data; Sortware

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16
Q

Heirarchy of data

A

Bit; Byte; Entity; Attibute; Field; Record; File; Database

17
Q

7 info criteria

A

(ICE RACE) Integrity; Confidential; Efficiency; Reliability; Availability; Compliance; Effectiveness

18
Q

4 Domains of COBIT Framework

A

(PO AIDS ME) 1. PO=Plan & Organize; 2. AI=Acquire & Implement; 3. DS=Deliver & Support; ME=Monitor & Evaluate

19
Q

Supply Chain Mgmt (SCM) functions

A

(PMSD) Planning; Making; Sourcing; Delivery

20
Q

4 systems risk categories

A

(SOFI) Strategic; Operating; Financial; Information

21
Q

gdp EXPENDITURE approach

A

(GICE) Gov’t purchases; Investment; Consumption; net Exports-Imports

22
Q

gdp INCOME approach

A

(IPIRATED) Income of proprietors; Profits of corps; net Interest; Rental income; Adj for foreign income; Taxes; EE compensation; Depreciation

23
Q

factors that SHIFT SUPPLY curves

A

(E COST) E=Expectations; C=chng in production Cost; O=chng in demand of Other goods; S=chng in Subsidies or taxes; T=chng in production Technology

24
Q

Porter’s 5 Forces (factors the affect competitive environment)

A
  1. barriers to market entry; 2. market competitiveness; 3. existence of substitute products; 4. bargaining power of customers; 5. bargaining power of suppliers
25
Q

supply chain (supplier of raw materials .to.

A

supplier of raw materials .to. Mfg .to. Wholesaler .to. Retailer

26
Q

supply chain operations reference (SCOR) model includes

A

Plan, Source, Make, Deliver

27
Q

5 categories of process mgmt

A

(MODEM) Modeling; Optimization; Design; Execution; Monitoring

28
Q

modeling is based on

A

what-if’ analysis

29
Q

process mgmt commonly referred to as

A

Plan, Do, Check, Act

30
Q

Measures to assess progress of process mgmt

A

(SCOR) S=customer Satisfaction; C=customer Contacts; O=Operational statistics; R=gross Revenue

31
Q

nonconformance is

A

FAILURE (internal or external)

32
Q

conformance is

A

Appraisal (IDENTIFY defective products & services) & Prevention (PREVENT issuing defective prod/services)

33
Q

5 phases of a PROJECT

A
  1. Authorization; 2. Planning; 3. Implementation; 4. Monitoring; 5. Closing
34
Q

authorization engagement document

A

CHARTER

35
Q

Quality of deliverabls in PROJECT

A

(SMART) Specific; Measurable; Attainable; Relevant; Time-based

BEC (12 decks)

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