Chapter 2 - Accountants as Business Analysts

Question 1

Business Analysis

Answer 1

Process of defining business process requirements and evaluating potential improvements

Question 2

Business Model

Answer 2

A simple, abstract representation of one or more business processes

Question 3

Documentation

Answer 3

Tool for information transmission and communication

Question 4

Sarbanes Oxley 2002

Answer 4

Requires external auditors to audit management’s assessment of the effectiveness of internal controls and express an opinion on the company’s control over financial reporting

Question 5

ICFR

Answer 5

Internal Control of Financial Reporting

Question 6

SEC rules require management to annually evaluate whether ICFR is effective at providing reasonable assurance and to disclose its assessment to investors

Answer 6

SEC rules require management to annually evaluate whether ICFR is effective at providing reasonable assurance and to disclose its assessment to investors

Question 7

BPMN

Answer 7

Business Process Modeling Notation

Question 8

PBMN Event

Answer 8

Start, intermediate, stop events

Question 9

PBMN Activities

Answer 9

Specific steps in a process

Question 10

PBMN Sequence Flows

Answer 10

Represented by arrows and indicate the progression of activity within the process

Question 11

PBMN Gateways

Answer 11

Indicate process branching and merging as a result of decision