Technology & Analytics Flashcards
Define what the 3 purpose of AIS are
Capture transaction data
Process data into useful information
Make information available for reporting
Identify the role of AIS in the value chain
It consists of primary & support activies. The AIS is owned & used as part of firm infrastructure activies, a set of support activies which include accounting, finance, legal, and general administration.
Define the transaction cycles
Revenue - goods & services exchange for cash or Items
Expenditure- inputs exchanged for cash or payables
Production - goods & services created form inputs
HR/Payroll - Employees hired, paid, terminate
Financing, Cash injected in exchange for equity or liab
PPE - Capital assets acquired, used, disposed
Explain the Revenue cycle
1) Sales order entry
2) Shipping process (booked to GL upon delivery)
3) Billing process
4) Cash Collection
Explain the Expenditure cycle
1) Ordering materials & services
2) Receiving process
3) Approving supplier invoices
4) Cash disbursements
Explain Production cycle
1) Product design
2) Planning & Scheduling
3) Production operations
4) Cost accounting
Explain HR/Payroll Cycle
- One of the most important cycles
1) Input preparation
2) Payroll Processing
3) Cash disbursement
4) Recording
Explain the Financing Cycle
1) Analysis (assess need of assets)
2) Funding (IPO, shares, lenders)
3) Servicing investments
4) Retirement (buying back, shares, bonds)
Explain the PPE Cycle
1) Analysis ( of LT assets and rent vs buy)
2) Proposal (Request for proposal, RFP)
3) Asset life cycle
What does Enterprise Resource Planning (ERP) do
- Overarching environment
- integrates business modules with GL
- Includes or integrates with CRM
- Reporting options
What is Enterprise Performance Management (EPM)
S*Single platform to mange resources
- goal is increase performance
- Integrate panning, execution, reporting
- Link between strategy & executions
What are the benefits of EPM
Makes scenarios easy to model Right information at right time All levels of organization provides performance monitoring improves managerial focus
What are the characteristics of EPM
Data -> Actionable information Provides "singe truth" Links cost drivers w/ results improved accountability/evaluation Connects employee roles with results Variance analysis Reduces reporting labor
Define the objectives of a Data governance program
1) Availability: to anyone who needs them
2) Usability: in a useful format
3) Integrity: Accuracy & validity
4) Security: preservation of integrity
Define the COSO ERM Framework objectives
1) Strategic: development of high-level goals
2) operations: proper mgmt of day to day activies
3) Reporting: Reliability of reporting
4) Compliance: Laws, regulation
8 Components
- Internal Environment: Culture, overall setting, general tone
- Objective setting: Statement of goals
- Event Identification: Recognize manifestation of R&O
- Risk Assessment: Impact of “X” probability
- Risk Response: Avoice, accept, mitigate, transfer/retain
- Control Activites: Polices/procedures to execute responses
- Information/Communication: to relevant parties
- Monitoring: Ongoing Assessment, modifications
Define IASCA’s COBIT 6 Principles
Enterprise needs a governance system to satisfy stakeholder needs and generate value use of I&T.
a governance system for
Define IASCA COBIT Domains objective
Governance Domain -
Evaluate, Direct and Monitor (EDM)
Management Domains Align, Plan & Organize (APO) Build, Acquire & Implement (BAI) Deliver, Service & Support (DSS) Monitor, Evaluate & Assess (MEA)
Describe the 7 components of COBIT
1) Processes
2) Organizational structures
3) Principles, Polices & Frameworks
4) Information
5) Culture, ethics & behavior
6) People, skills & Competencies
7) Services, infrastructure & applications
Define the 8 phase of the data life cycle
1) Data Capture: from variety of sources
2) Data Main.: Processing via CRUD operations before use (Create, Read, Update, Delete)
3) Data synthesis: Creating new data from existing data
4) Data usage: extracting useful information from the data
5) Data Analytics: usage that involves evaluating information from data sets
6) Data publication: Reporting outside the org
7) Data Archival: Storage of inactive data
8) Data purging: deleting unwanted data
Define how to detect cyber attacks
Antivirus software (scans)
Packet filtering: Routers/firewalls can black packets
Intrusion detection system: Monitors patterns
Intrusion
Define physicals defense for cyberattack
Access Control: physical barrier
Biometrics: physical feathers
Do-not-Carry rules: unable to carry internet based devices
Define technological defense for cyberattack
Penetration test: Sanctioned attempt to break in
Vulnerability assessment: scans prioritizes, possible ways to penetrate
Encryption: makes data unreadable w/o key
Remote wipe capability (mobile kill switch)
Business continuity planning: to recover
Describe Data Progression
Data: Raw facts collected & Organized
Information: Collection of data points within context
Knowledge: Understanding of information over time
Insight: New perspective that advances understanding
Action: Positive measures that can be taken based on insight.
Describe Data Mining Process
Data pull: retrieves relevant information
Import/Manipulation: w/ excel pivot table etc…
Analysis: looking at relationships among data
Visualization: Making sense of data
Iteration: getting closer to insight.
