Notes, summaries, assignments, exams, and exercises for Other subjects for Baccalaureate

Accounting

Meaning

1. Recording
2. Classifying
3. Reporting
4. Financials
5. Stakeholders

Nature

1. Systematic
2. Structured
3. Standardized
4. Accurate
5. Reliable

Concept

1. Accrual
2. Matching
3. Materiality
4. Consistency
5. Comparability

Purpose

1. Information
2. Decision
3. Resource
4. Allocation
5. Stewardship

Scope

1. Financial
2. Statements
3. Balance
4. Income
5. Cashflow

Users and Types

Users

1. Investors
2. Creditors
3. Management
4. Employees
5. Regulators

Need

1. Information
2. Decision
3. Resource
4. Allocation
5. Stewardship

Nature of Information

1. Internal
2. External
3. Financial
4. Non-financial
5. Strategic

Concept of Stakeholder Focus

1. Stakeholder
2. Decision
3. Resource
4. Allocation
5. Stewardship

Importance Criteria

1. Accurate
2. Reliable
3. Timely
4. Relevant
5. Consistent

Accounting Process

Steps

1. Identification
2. Recording
3. Classification
4. Reporting
5. Analysis

Nature of Process

1. Systematic
2. Cyclical
3. Accurate
4. Reliable
5. Consistent

Core Concepts

1. Accrual
2. Matching
3. Materiality
4. Consistency
5. Comparability

Process

Project Lifecycle

• Initialization
• Planning phase
• Execution
• Monitoring and control phase
• Closure

Need for Project Management

• Establishing a focal point
• Promoting quality management
• Minimizing risks
• Controlling project costs
• Promoting teamwork
• Utilizing available resources
• Facilitating learning

Responsibilities of a Project Manager

• Scope management
• Task management
• Resource management
• Team management
• Schedule management
• Quality management
• Cost management
• Risk management
• Stakeholder management
• Project risk management
• Status reporting
• Certification and training

Phases of Management Lifecycle

• Analysis and evaluation
• Marketing
• Design
• Inspecting, testing, and delivery
• Post-completion analysis

Project Management Process

• Project processes
• Process groups
• Process initialization interactions
• Customization

Significance

Advantages of High-Fidelity Prototyping

Which of the following is an advantage of high-fidelity prototyping?

• Is useful to “sell” a product idea to a client.
• Offers a good specification to code to.
• Looks and feels like a final product.

Conceptual and Mental Models

For the following two questions, recall that there are both conceptual models and mental models. Who creates the following?

• Mental model: User
• Conceptual model: Designer

Improving Information Recall

Which of the following are ways a person can better recall information?

• Dividing a list of digits into multi-digit numbers (e.g., remembering 19442001 as the years 1944 and 2001).
• Creating a story that relates items that otherwise may seem unrelated.
• Making information rhyme.
• Create a method to derive

Core and Distinctive Competencies

• Resources: An organization’s assets, and thus the basic building blocks of the organization. They can be tangible or intangible.
• Capabilities: Refer to a corporation’s ability to exploit its resources. They consist of business processes and routines that manage the interaction among resources to turn inputs into outputs.
• Core Competency: A collection of competencies that cross divisional boundaries, is widespread throughout the corporation, and is something the corporation does exceedingly well.
• Distinctive Competency: Core competencies that are superior to those of the competition.

Using Resources to Gain Competitive Advantage

1. Identify and classify resources in terms of strengths and weaknesses.
2. Combine the firm’s

Cost, Management and Financial Accounting

LIMITATIONS external accounting, Financial accounting emerged and evolved for three purposes: to record economic events between the company and the outside world; to report on the assets, rights, and obligations of the company; and to determine the overall result (profit or loss) of the company. Financial accounting merely reports the result of a period and changes in equity before and after that period.

Limitations of External (Financial) Accounting

However, the limitations of financial accounting are reflected in several shortcomings:

• A classification of expenses by nature does not distinguish between fixed and variable costs, or between direct and indirect costs.
• It does not offer information about where

The Company as an Economic Unit

A company is a collection of items organized and conditioned by specific, oriented objectives, acting under conditions of risk. Because human needs are endless while resources to meet them are limited, the company serves as the fundamental economic unit of production. Production is defined as any process intended to create or make available to the public the goods and services required to meet those needs. Consequently, consumption and production are the two key activities in all exchange relations within the economic system, with the company acting as the focal point of all system activity.

Business Objectives

• General Objective: Expresses the long-term goals the company wants to achieve. This serves as the starting

Sourcing Function

The objective of the sourcing function is to provide the production department with necessary materials. The procurement function is composed of three aspects: procurement, storage, and management.

• Procurement: In charge of making purchases required by the production department, considering price and quality.
• Storage: Saving products purchased in warehouses to meet production needs.
• Management: Developing an inventory management system to determine target stock quantities and order pacing to cover company production and commercialization needs.

Classification of Inventory Costs

• Ordering Costs: Costs incurred in carrying out orders.
• Acquisition Costs: The price of the product purchased from the supplier.
• Maintenance Costs: Costs associated

Economic Systems

Capitalist: Free market enterprise, private factors of production, and wage labor.

Socialist: No free enterprise market, state factors of production, and wage labor.

Mixed: Free enterprise market, mixed factors of production, and wage labor.

Basic Laws of the Market

• Anyone can buy or sell goods and services.
• There must be more than one company or individual offering the same goods and services.
• Mobility of production factors is essential.

Types of Markets

Perfect competition, monopoly, or oligopoly.

Business Structures

Legal Form:

• Single: (1 member)
• Sociedad Anonima (SA): (5+ members)
• Limited Liability Company (SL): (2-50 members)
• Civil Society: (2+ members)
• Corporate Society: (5+ members)
• Partnership: (2+ members)
• Limited Partnership: (5+ members)

The Communication Process and Nonverbal Symbols

The communication process involves understanding through the use of verbal and nonverbal symbols. Verbal international communication depends on the quantity of words and contextual information. In high-context cultures, communication does not require detailed information exchange. In contrast, in low-context cultures, the information exchange must be explicit and detailed.

Personal Space and Time Perception

Personal space refers to the spacing each individual requires. In polychronic cultures, people do many things at once. Conversely, in monochronic cultures, individuals focus on one thing at a time.

Nonverbal Body Language

Body language is a form of nonverbal communication. Types of nonverbal symbols...

Core Business Definitions and Concepts

Company Definition

A company is a set of items organized and coordinated in the X direction, oriented towards obtaining a series of objectives, operating under conditions of risk.

Conflict or Objectives

• Owner: Performance, profit.
• Professional Employer: Employees achieving good management, resulting in better wages.
• Customers: Timely delivery.
• Providers: Meeting agreed-upon, long-term receivable terms.
• Bank: Return of business money.
• State: Payment of taxes.

Value Chain

A set of functions that add value to company products and services, aiming for maximum profitability by reducing anything superfluous in any of the phases a product develops (production, marketing, etc.).

Company Culture

The first series of constant...