...Management Information Systems Chapter 2 COMPONENTS OF A BUSINESS * A business is a formal organization whose aim is to produce products or provide services for a profit – that is, to sell products at a price greater than the costs of production. * ORGANIZING A BUSINESS: BASIC BUSINESS FUNCTIONS * The decision of what to produce is called a strategic choice because it determines your likely customers, the kind of employees you will need, the production methods and facilities needed, the marketing themes, and many other choices. * The five basic entities in a business with which it must deal are: suppliers, customers, employees, invoices/payments, and, of course, products and services. * BUSINESS PROCESSES * The actual steps and tasks that describe how work is organized in a business are called business processes. * A logically related set of activities that define how specific business tasks are performed. * Also refer to the unique ways in which work, information, and knowledge are coordinated in a specific organization. Manufacturing & Production | * Assembling the product * Checking for quality * Producing bills of materials | Sales & Marketing | * Identifying customers * Making customers aware of the product * Selling the product | Finance & Accounting | * Paying creditors * Creating financial statements * Managing...
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...com Whittington & Associates, LLC Page 1 Contents 4. Quality Management System 4.1 General Requirements Establish, document, implement, and maintain a quality management system. Continually improve its effectiveness in accordance with ISO 9001 requirements. Implement the system to: Determine processes needed for the quality management system (and their application throughout the organization) Determine process sequence and interaction Determine criteria and methods for process operation and control Ensure resources and supporting information are available Monitor, measure where applicable, and analyze these processes Implement actions to achieve planned results and continual process improvement Manage these processes in accordance with ISO 9001 requirements. Define the type and extent of control applied to any outsourced processes that affect product conformity to requirements. NOTE 1: Processes needed for the quality management system include the processes for management activities (see 5), provision of resources (see 6), product realization (see 7), and measurement, analysis, and improvement (see 8). NOTE 2: An outsourced process is a process the organization needs for its quality management system, and which the organization chooses to have performed by an external party. NOTE 3: Ensuring control over outsourced processes does not absolve your organization of the responsibility to conform to all customer...
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...factors is the cost of its production. Cost is essential not only to fix price but also to ascertain the margin of profit. Knowledge of the cost determination is also necessary to keep a check on the cost of product/control on wastages, etc. The accounting used to study the various aspects of cost is known as cost accounting. In this lesson, you will learn about meaning, importance, limitations etc. of cost accounting. Notes OBJECTIVES After studying this lesson, you will be able to: state the meaning and scope of cost accounting; explain the objectives of cost accounting; differentiate between cost accounting and financial accounting; state importance of cost accounting; explain limitations of cost accounting. 27.1 MEANING AND SCOPE OF COST ACCOUNTING Cost accounting is the process of determining and accumulating the cost of product or activity. It is a process of accounting for the incurrence and the control of cost. It also covers classification, analysis, and interpretation of cost. In other words, it is a system of accounting, which provides the information about the ascertainment, and control of costs of products, or services. It measures the operating efficiency of the enterprise. It is an ACCOUNTANCY 95 MODULE - 6B Elementary Cost Accounting Cost Accounting : An Introduction internal aspect of the organisation. Cost Accounting is accounting for cost aimed at providing cost data, statement and reports for the...
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...Data and Information Author(s): Redman, Thomas C. Publication Date: 09/22/2008 Product Type: HBS Press Chapter Abstract: This chapter focuses on the current state of data and information quality in the typical organization. The author discusses seven common data quality issues, including poor data definition and organizational confusion. Real-life examples, such as the subprime mortgage meltdown, demonstrate the need for developing a keen eye for the roles that data play in your organization, including operations, delayed decisions, and misinformed strategies. Subjects: NO SUBJECTS(KEYWORDS) Length: 29p List Price: $6.95 BH087 Title: The 3R Framework: Improving eStrategy Across Reach, Richness, and Range Author(s): Wells, John D.; Gobeli, David H. Publication Date: 03/15/2003 Product Type: Business Horizons Article Publisher: Business Horizons/Indiana University Abstract: Identifying effective strategies for designing and implementing e-business initiatives has been a persistent challenge for both practitioners and academicians. A conceptual framework is needed for leveraging digital attributes based on three dimensions: reach, richness, and range. By defining and combining these three dimensions to create such an integrated e-business strategic framework, this article provides managers with a way to assess their current strategy, as well as a prescriptive direction for strengthening it. Subjects: Corporate strategy; Electronic commerce; Technology Length:...
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...INTERNATIONAL STANDARD ISO 9001 Fourth edition 2008-11-15 Quality management systems — Requirements Systèmes de management de la qualité — Exigences Reference number ISO 9001:2008(E) © ISO 2008 Provided by Pronorm AS for Det Norske Veritas AS (DNV) 2008-11-19. Reproduction is not allowed. ISO 9001:2008(E) PDF disclaimer This PDF file may contain embedded typefaces. In accordance with Adobe's licensing policy, this file may be printed or viewed but shall not be edited unless the typefaces which are embedded are licensed to and installed on the computer performing the editing. In downloading this file, parties accept therein the responsibility of not infringing Adobe's licensing policy. The ISO Central Secretariat accepts no liability in this area. Details of the software products used to create this PDF file can be found in the General Info relative to the file; the PDF-creation parameters were optimized for printing. Every care has been taken to ensure that the file is suitable for use by ISO member bodies. In the unlikely event that a problem relating to it is found, please inform the Central Secretariat at the address given below. COPYRIGHT PROTECTED DOCUMENT © ISO 2008 All rights reserved. Unless otherwise specified, no part of this publication may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying and microfilm, without permission in writing from either ISO at the address below or ISO's member...
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...technology we all are introduced to new or improved forms. There are times when advancing and learning of new technologies is a wonderful thing as long as one can also retain new information along with previously learned knowledge. In last week’s teachings we have learned new functions and capabilities as well as had a refresher course on the Microsoft PowerPoint program. Along with this informative we have also learned of the importance of the system development life cycle (SDLC) in regards to the planning, organizing, and implementing of information systems to include the project management of IT acquisitions, hardware and software selections. Last week, during week 4 we learned about the program and functions of Microsoft PowerPoint. There is a number of things that many have previous learned of have knowledge of pertaining to PowerPoint although one very important function that were unaware of to many, if not all, members of Team A. Those features consisted of the Notes Page View, Slide Sorter View and the Presenter View. The Notes Page comes in handy when you do not want to apply too much text to a slide(s) and you type the additional information below the slide in the “notes” section. The notes you right are not visible to the audience, so clicking on the notes page, you can view all the notes you wrote for that slide and present this while presenting. Secondly, the Slide Sorter View which displays thumbnails of your presentation slides and allows you to delete one...
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...Accounting Notes 95 Cost Accounting : An Introduction ACCOUNTANCY After passing your senior secondary examination, if you set up a small manufacturing unit, say manufacturing of packing boxes, a problem will arise what price of each box you should quote to the buyer. Many factors are considered while fixing the price of a product/item such as competitors’ price etc. One of the basic factors is the cost of its production. Cost is essential not only to fix price but also to ascertain the margin of profit. Knowledge of the cost determination is also necessary to keep a check on the cost of product/control on wastages, etc. The accounting used to study the various aspects of cost is known as cost accounting. In this lesson, you will learn about meaning, importance, limitations etc. of cost accounting. OBJECTIVES After studying this lesson, you will be able to: state the meaning and scope of cost accounting; explain the objectives of cost accounting; differentiate between cost accounting and financial accounting; state importance of cost accounting; explain limitations of cost accounting. 27.1 MEANING AND SCOPE OF COST ACCOUNTING Cost accounting is the process of determining and accumulating the cost of product or activity. It is a process of accounting for the incurrence and the control of cost. It also covers classification, analysis, and interpretation of cost. In other words, it is a system of accounting, which provides the information about the ascertainment...
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...opentuition.com for the latest updates watch the free lectures that accompany these notes; attempt free tests online; get free tutor support, and much more. OpenTuition Lecture Notes can be downloaded FREE from http://opentuition.com Copyright belongs to OpenTuition.com - please do not support piracy by downloading from other websites. r The best things in life are free IMPORTANT!!! PLEASE READ CAREFULLY To benefit from these notes you must watch the free lectures on the OpenTuition website in which we explain and expand on the topics covered In addition question practice is vital!! You must obtain a current edition of a Revision / Exam Kit from one of the ACCA approved content providers they contain a great number of exam standard questions (and answers) to practice on. You should also use the free “Online Multiple Choice Tests” and the “Flashcards” which you can find on on the OpenTuition website. http://opentuition.com/acca/ December 2015 Examinations ACCA P1 1 Content 1. Corporate Governance 2. Approaches to Corporate Governance 11 3. The Board of Directors 19 4. Board committees 37 5. Corporate Governance and Corporate Social Responsibility 49 6. Corporate governance – control systems 57 7. Auditors and Internal Controls 61 8. Management Information Systems 65 9. The Risk Management Process 67 10. Controlling Risk 79 11. Ethics and Social Responsibility ...
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...T e c h n i c a l n o T e s a n d M a n u a l s Operational Risk Management and Business Continuity Planning for Modern State Treasuries Ian Storkey Fiscal Affairs Department I N T e r N A T I o N A l M o N e T A r y F U N D INTerNATIoNAl MoNeTAry FUND Fiscal Affairs Department Operational Risk Management and Business Continuity Planning for Modern State Treasuries Prepared by Ian Storkey Authorized for distribution by Sanjeev Gupta November 2011 DISCLAIMER: This Technical Guidance Note should not be reported as representing the views of the IMF. The views expressed in this Note are those of the authors and do not necessarily represent those of the IMF or IMF policy. JEL Classification Numbers: Keywords: H12, H60, H63, H83 business continuity, disaster recovery, business continuity and disaster recovery plan, operational risk, operational risk management, treasury operations ian@storkeyandco.com Author’s E-Mail Address: TECHNICAL NoTEs ANd MANUALs Operational Risk Management and Business Continuity Planning for Modern State Treasuries Prepared by Ian Storkey This technical note and manual (TNM)1 addresses the following main issues: • What is operational risk management and how this should be applied to treasury operations. • What is business continuity and disaster recovery planning and why it is important for treasury operations. • How to develop and implement a business continuity and disaster recovery plan using a six practical-step...
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...ISSUES IN ACCOUNTING EDUCATION Vol. 24, No. 1 February 2009 pp. 63–76 Assessing Information Technology General Control Risk: An Instructional Case Carolyn Strand Norman, Mark D. Payne, and Valaria P. Vendrzyk ABSTRACT: Information Technology General Controls (ITGCs), a fundamental category of internal controls, provide an overall foundation for reliance on any information produced by a system. Since the relation between ITGCs and the information produced by an organization’s various application programs is indirect, understanding how ITGCs interact and affect an auditor’s risk assessment is often challenging for students. This case helps students assess overall ITGC risk within an organization’s information systems. Students identify specific strengths and weaknesses within five ITGC areas, provide a risk assessment for each area, and then evaluate an organization’s overall level of ITGC risk within the context of an integrated audit. Keywords: internal controls; general control; ITGC; risk assessment. INTRODUCTION he Sarbanes-Oxley Act (SOX 2002) and the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 (PCAOB 2007) require that the organization’s chief executive officer (CEO) and chief financial officer (CFO) include an assessment of the operating effectiveness of their internal control structure over financial reporting when issuing the annual report. External auditors must review management’s internal control assessment as part of an annual integrated audit...
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...well-known global management consulting, technology services and outsourcing company. It was consolidated 47 country partnerships into one corporation and its headquarters in Bermuda. Accenture still remained profitable even during the period of the financial crisis between 2002 and 2003. Accenture had developed a new strategy which focusing on outsourcing and its organizational structure gradually evolved in early 2005, which includes five operating groups, 18 industry groups and eight capability groups. There are several changes of personnel at Accenture. In 2004, Bill Green took office as CEO, the Accenture’s primary decision-maker and policy maker of Accenture. Tom Barfield began to work on the learning and knowledge infrastructures in 2000 and took responsibility for knowledge management strategy in 2004. Beginning around 1990, Accenture has focused on knowledge management. By the mid-1990s, the Knowledge Exchange built on the foundation of Lotus Notes.The primary issue is that the decentralized systems and databases result in a significant duplication of documents across the organization. It caused by the implementation of the old knowledge management technology and the changing environment at Accenture. The secondary issues are that significant budget pressure on Accenture’s training and knowledge management team, the losing of critical human resources and the lacking of consistency in documents template. Based on the issues with knowledge management technology, we recommended...
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...support system has been defined by different authors though the terminology might be diiiferent varying with tnhe author .They all allude to the fact at decision support systems consists of five imperative aspects or be it elements.The five elements are Data Management The data management component performs the function of storing and maintaining the information that you want your Decision Support System to use. The data management component, therefore, consists of both the Decision Support System information and the Decision Support System database management system. The information you use in your Decision Support System comes from one or more of three sources: Organizational information; you may want to use virtually any information available in the organization for your Decision Support System. What you use, of course, depends on what you need and whether it is available. You can design your Decision Support System to access this information directly from your company’s database and data warehouse. However, specific information is often copied to the Decision Support System database to save time in searching through the organization’s database and data warehouses. External information: some decisions require input from external sources of information. Various branches of federal government, Dow Jones, Compustat data, and the internet, to mention just a few, can provide additional information for the use with a Decision Support System. Personal information: you...
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...general types of information management systems, and give one logistics application for each one that you’ve named. Chapter 13: Question 2: What is activity-based costing (ABC)? What are the five steps of the ABC process? Question 17: Describe the two issues that managers face with respect to computer and data security. Chapter 14: Question 3: What are the differences between a centralized and a decentralized logistics department? Question 20: Name the seven types of comprehensive logistics systems audits that should be performed. Which do you view as the most important? The least important? Why? Activity mode aims to provide quality study notes and tutorials to the students of BSOP 434 Week 5 Assignment in order to ace their studies. BSOP 434 WEEK 5 ASSIGNMENT To purchase this visit here: http://www.activitymode.com/product/bsop-434-week-5-assignment/ Contact us at: SUPPORT@ACTIVITYMODE.COM BSOP 434 WEEK 5 ASSIGNMENT Chapter 3: Question 3: Name the six general types of information management systems, and give one logistics application for each one that you’ve named. Chapter 13: Question 2: What is activity-based costing (ABC)? What are the five steps of the ABC process? Question 17: Describe the two issues that managers face with respect to computer and data security. Chapter 14: Question 3: What are the differences between a centralized and a decentralized logistics department? Question 20: Name the seven types of comprehensive logistics systems audits that...
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...Edition Acknowledgements Brief Contents 1. Introduction to Sales and Distribution Management Introduction 1 Evolution of Sales Management 1 What is Sales Management? 2 Nature and Importance of Sales Management 2 Relationship Selling 3 Varying Sales Responsibilities/Sales Positions 4 Importance of Personal Selling and Sales Management 4 Role and Skills of Modern Sales Managers 4 Skills of a Sales Manager 6 Types of Sales Managers/Sales Management Positions 6 Top-level (Strategic) Sales Managers 6 Middle-level (Tactical) Sales Managers 7 First-line (Operational) Sales Managers 7 Staff Sales Management Positions 8 Sales as a Career 8 Rewards in Sales Career 8 Salesperson to Sales Manager 9 Changing Role of a Salesforce 9 Women in Sales 11 Sales Objectives, Strategies and Tactics 12 Sales Objectives 12 Sales Strategies and Tactics 12 ii vii ix xiii xv 1 xviii Contents Emerging Trends in Sales Management 13 Global Perspective 13 Revolution in Technology 14 Customer Relationship Management (CRM) 14 Salesforce Diversity 14 Team Selling Approach 14 Managing Multi-channels 15 Ethical and Social Issues 15 Sales Professionalism 15 E-Selling 16 Linking Sales and Distribution Management 16 Distribution Channels 18 Maximising Customer Service 18 Sales Operations Planning 19 Summary 20 Glossary of Key Terms 21 Conceptual Questions 22 Objective Type Questions 23 Application Questions 24 Reference Notes 24 Case 1.1: PI Foods Ltd.—Managing Sales and Distribution 2. Personal Selling: Preparation...
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...Decision support systems and Business Intelligence: an overview Contents Course introduction 1–3 Module one objectives 1–3 Use of Study Guide 1–3 Suggested study schedule 1–4 Readings 1–4 Changing business environments and computerised decision support 1–4 Managerial decision-making 1–5 Computerised support for decision making: systems and technologies 1–5 The systems 1–5 The technologies 1–5 A framework for decision support 1–6 Management science 1–6 Concept of decision support systems & business intelligence 1–7 DSS – BI connection 1–7 Course plan and themes 1–7 Conclusion 1–8 Course introduction This first module aims to provide an overview of the topic and provide the broad backdrop into which the other modules will fit. Today’s business environment is constantly changing, and it is becoming more and more complex. Private and public organizations are required to respond quickly to changing conditions; be it government regulations or informed customers or market conditions. This requires organizations to be agile and to make frequent and quick strategic, tactical, and operational decisions. Making such decisions may require considerable amounts of relevant data, information, and knowledge. Processing these, in the framework of the needed decisions, must be done quickly, frequently in real time, and usually requires some computerized support. This course is about using business intelligence as computerized support for managerial...
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