Chap. 17 Understanding Accounting and Financial Information
Chap. 18 Financial Management
Bonus Chap. B Using Technology to Manage Information
Hither and Yon
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100
Recording, classifying, summarizing and interpreting of financial events and transactions in an organization to provide interested parties needed financial information.
What is accounting?
100
The function in a business that acquires funds for a firm and manages them within the firm.
What is finance?
100
Name for business technology in the 1970s; primarily used to improve the flow of financial information.
What is data processing?
100
Technology used to store, retrieve, and send information effectively.
What is information technology?
100
The funds raised through various forms of borrowing that must be repaid.
What is debt financing?
200
Provides information and analysis to managers inside the organization to assist them in decision making.
What is managerial accounting?
200
The job of managing a firm’s resources to meet its goals and objectives.
What is financial management?
200
The use of data analytic tools that analyze an organization’s raw data and derive useful insights from it.
What is business intelligence?
200
Estimates cash inflows and outflows during a particular period like a month or quarter.
What is a cash budget?
200
Theory of motivation based on unmet human needs from basic physiological needs to safety, social and esteem needs to self-actualization needs.
What is hierarchy of needs?
300
Financial information and analyses are generated for people primarily outside the organization. Outside users are interested in these questions:
What is financial accounting?
300
Predicts the cash inflows and outflows in future periods, usually months or quarters.
What is cash-flow forecast?
300
The process of collecting, organizing, storing, and analyzing large sets of data (“big data”) in order to identify patterns and other information that is most useful to the business now and for making future decisions.
What is data analytics?
300
Testing product concepts among potential product users.
What is test marketing?
300
Setting ambitious but attainable goals can motivate workers and improve performance if the goals are accepted, accompanied by feedback, and facilitated by organizational conditions.
What is goal setting theory?
400
An evaluation and unbiased opinion about the accuracy of a company’s financial statements.
What is an independent audit?
400
Sets forth management’s expectations for revenues and allocates the use of specific resources throughout the firm.
What is a budget?
400
A form of virtualization which stores a company’s data and applications at off-site data centers accessed over the Internet.
What is cloud computing?
400
Everything consumers evaluate when deciding whether to buy something.
What is total product offer?
400
A technique for looking for hidden patterns and unknown relationships in the data.
What is data mining?
500
A summary of all the information in the account ledgers.
What is a trial balance?
500
A process in which a firm periodically compares its actual revenues, costs and expenses with its budget.
What is financial control?
500
A combination of technologies that adds intelligence and changes how people interact with the Web and vice versa.
What is Web 3.0?
500
The creation of real or perceived product differences.
What is product differentiation?
500
The amount of effort employees exert on a specific task depends on their expectations of the outcome.