At one time, if an organization wanted to automate using a computer system, they had to develop the program on their own
Today, there is software available to perform virtually every business function although most of them will not conform exactly to what a company needs. Describe two software tools that can be used for business process analysis and design.
What will be an ideal response?
Answer: Two key tools for business process analysis and design are 1) business process modeling tools and 2) business process management system products.
Business process modeling tools are "software tools that aid business teams in the analysis, modeling, and redesign of business processes." BP modeling tools do more than just chart work flows; they allow users to graphically define a process and simulate the performance of the new process to gain insights into how it might work in the real world. BP modeling tools can also help users develop cost estimates based on the sequence of activities in a process and save defined processes in a database so that they can be reused again in other parts of the business.
Business process management systems (BPMS) products are state-of-the-art software tools for developing and implementing business processes. As Harmon puts it, BPMS products are "software tools that allow analysts to model processes and… then automate the execution of the process at run time." Imagine how this would work: Experts use a BPMS product to develop a process map of how they want a process to work. They then define business rules to manage the flow of work through process (e.g., "If an order is scheduled to be finished late by X or more days, initiate the defined expedited shipping process"). When the users are satisfied that the new process works the way they want it to, the BPMS product can be used to automatically carry out future business activity, without requiring developers to write new software code. Now that's some sweet action!
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Answer the following statements true (T) or false (F)
1. Absorption costing considers fixed selling and administrative costs as product costs. 2. Absorption costing is required by the Generally Accepted Accounting Principles (GAAP) for financial statements issued to investors, creditors, and other external users. 3. Fixed manufacturing overhead is considered a product cost under variable costing. 4. Absorption costing considers direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead as product costs. 5. In absorption costing, all product costs are recorded first as assets in the inventory accounts.
Which of the following options is not a wise choice of action for a negotiator in a low-power position?
A. limit the ways you can do business or with whom you can do business B. deal with a variety of individuals and departments in the high-power party C. diversity risk by entering into deals with several other partners D. use anger to make yourself bigger
Describe the accounting for pension plan benefits
Negative situations will end and are not all encompassing
Indicate whether the statement is true or false