Key Topics to Memorise Flashcards
What are the key attributes of good information?
ACCURATE
Accurate
Complete
Cost < benefit
Understandable
Relevant
Adatpable
Timely
Easy to use
What are the key stages in developing a data strategy?
I Store Property Proper Good
Identify
Store
Provision
Process
Govern
What are the main principles in the CIMA Code of Ethics?
PIPCO
Professional competence and due care
Integrity
Professional behaviour
Confidentiality
Objectivity
What are budgets useful for?
CRUMPET
Co-ordination
Responsibility
Utilisation
Motivation
Planning
Evaluation
Telling
In the competency framework what are the 5 skill types?
The Bear Loves Playing Dead
Technical skills
Business skills
Leadership skills
People skills
Digital skills
What is the mintzberg effective organisation?
Ideology
Strategic apex
Middle line
Operating core
Left side = Technostructure
Right side = Support staff
What is the diamond shape of the modern finance function?
Level 1 = Senior finance team (Lead to achieve impact)
Level 2 = Strategic business partnering (Influence and shape)
Level 3 = Digital centres of excellence (Generate insight)
Level 4 = Smart finance factories (Assemble / extract)
What are the main principles of GDPR?
FAADSA
Fair, lawful, transparent
Adequate, relevant, limit to what is necessary
Accurate, up to date
Don’t keep longer than necessary
Specific, explicit purpose
Appropriate security
Information to impact framework
Assemble Information (REPORTING)
Analyse for Insight (QUESTIONING)
Advise to Influence (DEVELOPING SOLUTIONS)
Apply for Impact (DEPLOYING SOLUTIONS)
Underpinned by Acumen
Sliding scale, accounting and governance on left to guidance and management.
What are the specialist areas?
Financial planning and analysis
Taxation
Project management
Project appraisal
What are the McKinsey levels and how do they fit into the diamond shape?
My Stakeholders Appreciate Dedicated Diligence
Managing others = Level 1
Stakeholder interactions = Level 2
Applying expertise = Level 2
Data processing = Level 3
Data collection = Level 4
What are the Forbe’s attributes of a digital mindset?
Provide vision yet empower others
Give up control yet architect the choices
Sustain yet disrupt
Rely on data yet trust your intuition
Be sceptical yet open-minded
What are the two different categories of digital technologies?
Core modernisation tools = Update existing systems
Exponentials = New capabilities
What are the four different types of big data?
Human sourced = Social media, text messages, emails
Machine generated = IoT, sensors, home assistants
Processed = Traditional data, databases
Open = Publicly available
Cousin’s supply wheel
Only Rarely Can Companies Perform
Organisation structure
Relationships with suppliers
Cost / benefit
Competencies
Performance measures
