Toasted Dolphin

I'm not going to participate in this madness by myself. You will in fact see the torture and lessons of the CPA test. And what I am subject to!

In no particular order. YOU ARE TO REMEMBER:


GDP Calculation Under the income Approach:

Income from Proprietors
Profits from Corporations
Interest (Net)
Rental Income
Adjustments for net foreign income
Taxes (indirect business taxes)
Employee Compensation (wages)
Depreciation (capital consumption allowance)

Mnemonic: IPIRATED


Programmed Controls are:
Input controls
processing controls
output controls


Controls for an EDI system might include:
Encryption of data
Activity logs of failed transactions, and
Network and sender/recipient acknowledgements


The risks in a business information system are:
strategic risk
operating risk
financial risk
information risk

Four Key Management Processes of SCM:
Plan
Source
Make
Deliver



Stages of SCM:
The fundamentals
Cross-functional teams
integrated enterprise
Extended supply chain
supply chain communities



4 Types of Info System Policy:
Program level policy
Program framework policy
Issue specific policy
System specific policy



List the behavioral issues that potentially distort decisions:
Use of the most easily accessible data
assuming stereotyped characterizations are accurate
adjusting from presumed baselines
using intuition rather than analysis
excessive optimism
over confidence
illusion of control

What is the average collection period and # of Days Sales in Ending Accounts receivable and what is the difference?

Average Accounts REceivable / The Average Sales a day(Sales / days in year)

Ending accounts rec balance / The average sales a day(sales / days in year)


They are trying to measure the same thing except ending accounts receivable may have distorted results due to year end collection efforts.

Inventory turnover?

COGS / Avg inventory balance


Avg days sales in Inventory?

Days in year(365 or 360) / Inventory Turnover

3 Types of Disaster backup:

Disaster recovery service
Internal disaster recovery
Multiple data center backups

The five external forces that affect the competitive environment and profitability are:

Barriers to market entry
Market competitiveness (intensity of competition)
Existence of substitutes
Bargaining power of the customers
Bargaining power of the suppliers

5 Steps in the System Development Cycle

1. Systems Analysis
2. OPerations and maintenance
3. Implementation and conversion
4. Conceptual design
5. Physical design

Per Share Valuation w/out growth and with growth.

1. Divedend / Required Return

2. D(t + 1) / (R - g)

D= dividend x (rate +1) x years
R = required return
g = growth

How do you calculate safety stock (reorder point)?

minimum safety stock + [lead time x (sales units per year / weeks of year)]

Basic components of data processing?

Creating
Reading
Updating
Deleting

What decision context or environment is considered the most distracting?

Losses are considered the most distracting backdrop for decisions (far more distracting than gains).