Part 15 - 2020 ICDC HS Flashcards
Capital gains tax
Owed when an investor receives appreciation of value on his or hers investment
Terms in capital gains tax
Long term for assets owned 1 year and above, short term on the other hand
Open door policies
Encourage communication between employees and managers, less limitations
Rich communication channel
Seeing, hearing, interacting
Lean communication channel
Only through sight and seeing
Publicity
When a business get “advertised” without paying anything, e.g., the word of mouth
Advertisement
When a business paid to become famous and to reach to (potential) customers
Open-end investment fund
No limit of shares, buy or sell whenever wanted
Close-end investment fund
Total number of shares is fixed, once full, only able to buy when someone else sells theirs
Brick and click
A company with both brick and motar store plus online store
Bait and switch
Business promoting a low-priceed item before a high-priced to attract customers
Due care
Doing the best possible
Out-of-pocket costs
Money that will be spent in the future, but not spent yet
Relevant costs
Costs that will be affected by the decision
Irrelevant costs
Costs that are unrelated with the decision
Committed costs
Costs that are unavoidable, will incur anyways
Challenges in financial information management
Inadequate information, too many sources, inaccuracies, inefficiencies, disparate data structures
Cost effective pricing
Setting the price to generate most value of money (low enough to attract customers still)
Cost per contact
Cost for a business to reach every customer
Descriptive data analytics
Summarizing past data
Prescriptive data analystics
Suggest specific actions to improve decision-making
Predictive data analystics
Predit the future using past data
Diagnostics data analystics
Explain why an event happened by analyzing past data
Market basket analysis
Establishing links between data points that tend to occur together
Naturally occuring groups
Possible actors formed without artificial intervention
High-Net-Worth Individuals (HNWIs)
Wealthy investors falling into this category (automatically due to wealth owned)
Asset records
To keep track with asset depreciations and record for accounting purposes
Tax records
Include deductions, withholdings, employee pay
Legal records
Contracts, agreements, intellectual properties, work orders
Customer records
Client names, addresses, information
Pooled interdependence
Separated departments operating with little or no interaction
Sequential interdependence
One department relies on work completed by other departments
Reciprocal interdependence
Most complex, information flowing both ways between departments
Project scope
Use the time wisely and not getting distracted by unimportant things
Monitoring project
Scope, people, schedule (deadlines), budget
Business information management
(Umbrella term) for all professions connecting business processes with IT, smooth working environment
Operations management
Planning, organizing, controlling, coordinating resources to produce business goods/services
Preliminary quality management
Early stage controls in quality
