BEC VI BLAKE CPA Flashcards
Advantages of Cloud Computing
1) Enhanced access as long as internet exists
2) Lower maintenance Costs
3) Scalability
Risk of Cloud Computing
1) Risk of Data Loss
2) Risk of data breached
3) Risk of relying on a service provider instead of housing data internally
Primary purpose of a digital signature
Means of ensuring that the sender of a message is authentic
Uses encryption so that the recipient of a message can be assured that it is from the sender that is shown
Tells who signed it
Enterprise Resource Planning systems (ERPs)
integrates, allows to exchange information, and manages the business process across the entire enterprise.
Essentially integrates all teh data maintained by the organization into ONE database.
Increases efficiency in evaluating data when making critical business decisions since all info is in one place
Decision Support System (DDS)
Help with routine decisions.
Important subset of MIS as it is designed to assist in decision making processes.
Serves management, oeprations, & planning of all levels of an organization
XBRL
Uses tagging to define financial statement Data
Specifically designed to exchange financial information over the world wide web
Electric Funds Transfer
Reduction of the frequency of data entry errors
Moving $ from one bank accout to antoher and removes the need for a physical check
ex: Direct Deposit
electronic data interchange (EDI)
Business to business transactions
Improves efficieny of communication
ex: Just-in-time inventory system
Increased inventory turn over & Lower year-end receivables
The Four supply chain mangement assumptions
1
1) The goods received should match goods ordered
2) The goods should be delivered on or before the date promised
3) The goods should be delivered to the location that is required
4) The COGS should be as low as possible
What is unique to Software-as-a-Service offering compared to a traditional in-house application?
DAta is stored in the cloud and managed by the Saas provider.
However, that means that the SaaS provider processes and POTENTIALLY owns your data.
***Ownership of processed data and costs of data migrations
Management information system (MIS) has two subsystems:
Pulls information that has already been defined in the system to help awnser normal business decisions.
1) Decision support system (DSS)
2) Executive inforamtion system (EIS)
3) Additional subsystems: Accounting inforamtion system (AIS)
Effective IT System
Better organization improves decision making.
Provides relevant & reliable data that reduces uncertainty when making a decision
Time-Based Security Model
Formula P > D+C
P = Penetration (by hacker)
D = Detection (by company)
C = Correction (by company)
always measured in time
Operator’s Role in the IT Department
Oversees the running of a company’s computer systems
Analyst’s Role in the IT Department
Analyzing, designing & implementing a company’s IT
Librarian Role in the IT Department
Custody: Responsible for maintaining the data
Make sure data can be accessed as necessary by the rest of the company
Programmers Role in the IT Department
Develops computer programs & software
Executive Support Systems
Help awnser “non-routine questions” or scenarios that don’t occur on normal basis.
DAta Structure
This describes the relationship of data across an organization and how it is stored.
Standard query reporting
This is a request for data that is stored in a system.
For example, if the CFO wanted sales transactions for the prior year, a query could be run in the system to create a report with the sales transactions from last year.
Artificial intelligence
when machines make decisions and perform tasks similar to how humans would.
AI uses various data inputs and information to make these decisions based on code or instructions written by the developer.
Cost of Equity & Inlfation
As inflation increases Cost of equity increases
As Inflation decreases cost of Equity decreases
Example of Decision Support system in use
evaluates geophysical & historical data as part of a decision to invest in drilling operations
Provides interactive support for managers during a decision making process
Executive information system
Dashboard systems that provide macro level info to executive leadership
Best Cost strategy
seeks to combine cost leadership & differentiation to provide customers with high value
gateways
intermediary devices on a computer network that transform data into different protocols so that data can flow between networks.
Servers
machines or software that provide services or share data with other machines on a network known as “clients”
Six Sigma
quality improvement program that used both to improve current products or processes & to develop new products or processes
Cold Site
off-site location that has all the electrical connections & other physical requirements for data processing, but it does not have the actual equipment
1-3 days to be made operational
FormJacking Attack
Malicious code (malware) inserted into the checkout of a valid website.
MAlware can read CC info of custoemr and send info back to hacker
Hacker tries to obtain credit card info by slipping code into valid online checkouts
