Test 4 Flashcards
break-even point
is that level of operations at which a company realizes no net income or loss
Fixed Costs
are expenses that are not dependent on the amount of goods or services produced by the business
Variable costs
are volume related and are paid per quantity or unit produced
AICPA Code of Professional Conduct
a collection of codified statements issued that outline a CPA’s ethical and professional responsibilities
Sarbanes-Oxley Act
help protect investors from fraudulent financial reporting by corporations.
Software
Apps on the computer
Hardware
the physical computer
Networking
bring companies together
Computer Aided Manufacturing Systems
the use of computer systems to plan, manage, and control the operations of a manufacturing plant
Cloud Computing
the delivery of computing services over the internet, or “the cloud”
Internet of Things (IoT)
Devices that connect to the internet without a user
Business process data
information that businesses collect to improve their operations
Physical world observations
capture real-time data about the physical world
Biological data
information derived from living organisms and their products
Public data
information that can be shared, reused, and redistributed without restrictions
personal data
any information relating to an identified or identifiable natural person
Data warehousing
the process of collecting, organizing, and managing data from multiple sources into one database
Machine learning
programs that learn how to do tasks they weren’t explicitly programmed to do
Inbound logistics information
weather information
Operations information
schedules, plans
Sakes/marketing information
how many sales, revenue
Service information
information on businesses
Human resource information
full timers vs part timers
Procurement
the process of buying goods or services for a business
Digital transformation
the process of integrating digital technologies into all aspects of a business to improve operations
Impact of technology on e-commerce
connecting buyers and sellers on mobile and web platforms
Impact of technology on Operations and supply chain
improving efficiency, reducing costs, and enhancing collaboration
Impact of technology on Human resources and workforce management
helps HR managers do their jobs more efficiently, make better decisions for the company, and maximise the potential and productivity of their staff
Reasons cyber-crime are increasing
Increased digital adoption
Viruses
a type of malicious software that spreads between computers and can damage data and software
phishing
malicious actor sends a message that appears to come from a trusted source to trick a user into performing an action
Denial of Service attack (DOS)
a machine or network inaccessible to its intended users by flooding it with traffic or sending it information that causes it to crash
ransomware
malware that prevents users from accessing their devices and the data stored on them
biotechnology
technology integrated into biology
Know your why
- Pride
- Gratitude
- Compassion
What is the contribution margin?
Portion of revenue that is not consumed by variable costs
What is the working capital ratio?
Excessive current assets over current liabilities
What is the acid test quick ratio?
ratio of quick assets to current liabilities
What is inventory turnover ratio?
Number of times average inventory is sold over a period of time
What do many modern companies consider to be their most valuable asset?
Customer information
RFID and GPS tracking are examples of which kind of data?
Physical observations
Data Mining is?
Identifying patterns in data
What is a blockchain?
A distributed ledger
Which of the following is an important foundation of interpersonal excellence?
Recognize your infinite worth
According to your professor which of the following is an effective way to interact with others?
Warmth and power
What is internal locus of control?
Take responsibility for all your circumstances
Which of the following emotions are sustainable as motivators
Pride, passion, gratitude
_____ and ______ are usually sufficient on their own for career advancement
Competence and positivity
When applying for jobs its a good idea to apply for as many jobs as possible
False
What are two kinds of conversationalists your professor talked about?
Storytellers and question askers
