Podcast
Questions and Answers
What type of decisions does managerial accounting primarily inform?
What type of decisions does managerial accounting primarily inform?
Which of the following best describes a characteristic of financial accounting?
Which of the following best describes a characteristic of financial accounting?
What is a common output of the audit discipline in accounting?
What is a common output of the audit discipline in accounting?
Which accounting discipline is most closely associated with compliance with laws and regulations?
Which accounting discipline is most closely associated with compliance with laws and regulations?
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Which of the following stakeholders primarily utilizes information from managerial accounting?
Which of the following stakeholders primarily utilizes information from managerial accounting?
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What is the first step in human resource planning?
What is the first step in human resource planning?
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Which of the following is NOT a part of performance appraisal?
Which of the following is NOT a part of performance appraisal?
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What does EVP stand for in HR management?
What does EVP stand for in HR management?
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Which financing method is associated with secured loans?
Which financing method is associated with secured loans?
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What should be included in a transition plan during terminations?
What should be included in a transition plan during terminations?
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Which aspect of financial planning involves measuring performance against predetermined benchmarks?
Which aspect of financial planning involves measuring performance against predetermined benchmarks?
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What is the primary purpose of compliance audits?
What is the primary purpose of compliance audits?
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What is required to bring to the final examination?
What is required to bring to the final examination?
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Which financial statement focuses primarily on a company's profitability over a specific period?
Which financial statement focuses primarily on a company's profitability over a specific period?
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If a student accidentally bubbles in two answers on the exam, what should they do?
If a student accidentally bubbles in two answers on the exam, what should they do?
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When will the final examinations take place?
When will the final examinations take place?
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Which of the following best describes the matching principle in accounting?
Which of the following best describes the matching principle in accounting?
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What type of writing instrument is acceptable for the exam?
What type of writing instrument is acceptable for the exam?
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What type of information is typically included in a tax return?
What type of information is typically included in a tax return?
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Which ratio indicates a company's ability to pay its short-term liabilities?
Which ratio indicates a company's ability to pay its short-term liabilities?
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Where can students find the room locations for the final exam?
Where can students find the room locations for the final exam?
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Which key stakeholder is primarily interested in a company’s internal audit reports?
Which key stakeholder is primarily interested in a company’s internal audit reports?
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What option should a student NOT select during the final exam?
What option should a student NOT select during the final exam?
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What is the recommended action if a student realizes they misbubbled answers?
What is the recommended action if a student realizes they misbubbled answers?
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In financial planning, what role does ratio analysis play?
In financial planning, what role does ratio analysis play?
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What signifies that a student’s answer choice is the actual answer during the exam?
What signifies that a student’s answer choice is the actual answer during the exam?
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What is NOT stated as a preparation item for the final exam?
What is NOT stated as a preparation item for the final exam?
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Which of the following is an inappropriate action during the final examination?
Which of the following is an inappropriate action during the final examination?
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Which of the following plans rewards employees based on productivity and may involve bonuses or profit sharing?
Which of the following plans rewards employees based on productivity and may involve bonuses or profit sharing?
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What framework is utilized for analyzing competitive forces in an industry?
What framework is utilized for analyzing competitive forces in an industry?
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Which leadership style is characterized by minimal direct supervision and allows employees to make decisions autonomously?
Which leadership style is characterized by minimal direct supervision and allows employees to make decisions autonomously?
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Which type of ethical approach focuses on laws and regulations to guide corporate behavior?
Which type of ethical approach focuses on laws and regulations to guide corporate behavior?
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Which of the following is a component of Corporate Social Responsibility (CSR) that focuses on the impact of a company's operations on society?
Which of the following is a component of Corporate Social Responsibility (CSR) that focuses on the impact of a company's operations on society?
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What term refers to the various strategies businesses adopt to manage their relationship with stakeholders?
What term refers to the various strategies businesses adopt to manage their relationship with stakeholders?
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Which of the following has no relevance in evaluating a company's workforce development?
Which of the following has no relevance in evaluating a company's workforce development?
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What is a key factor in ensuring a balanced scorecard effectively measures an organization's performance?
What is a key factor in ensuring a balanced scorecard effectively measures an organization's performance?
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What information should students expect to receive via email from the course manager before the final exam?
What information should students expect to receive via email from the course manager before the final exam?
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Where can students find the final exam room locations?
Where can students find the final exam room locations?
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What is the main purpose of receiving midterm averages before the final exam?
What is the main purpose of receiving midterm averages before the final exam?
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What should students do if they accidentally choose more than one answer on their exam?
What should students do if they accidentally choose more than one answer on their exam?
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What should students verify before attending their final examination?
What should students verify before attending their final examination?
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What is a primary ethical concern surrounding data breaches in companies like Facebook?
What is a primary ethical concern surrounding data breaches in companies like Facebook?
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Which principle best represents the responsibilities companies have toward society?
Which principle best represents the responsibilities companies have toward society?
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How can businesses uphold ethical standards in their operations?
How can businesses uphold ethical standards in their operations?
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What role does media play in shaping public perception about a company's ethical practices?
What role does media play in shaping public perception about a company's ethical practices?
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Which approach is commonly criticized for neglecting ethical implications in business strategy?
Which approach is commonly criticized for neglecting ethical implications in business strategy?
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What is a primary ethical concern that arises when pharmaceutical companies pressure to release products early?
What is a primary ethical concern that arises when pharmaceutical companies pressure to release products early?
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How does the 'tone from the top' influence corporate ethics?
How does the 'tone from the top' influence corporate ethics?
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What is a common ethical concern regarding companies' handling of data breaches?
What is a common ethical concern regarding companies' handling of data breaches?
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Which principle best captures the ethical responsibilities companies hold toward society?
Which principle best captures the ethical responsibilities companies hold toward society?
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What obligation do pharmaceutical companies have towards stakeholders when introducing new drugs?
What obligation do pharmaceutical companies have towards stakeholders when introducing new drugs?
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What is the implication of Martin Shkreli's actions in relation to ethical business practices?
What is the implication of Martin Shkreli's actions in relation to ethical business practices?
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How do businesses typically uphold ethical standards in their operations?
How do businesses typically uphold ethical standards in their operations?
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Which of the following ethical considerations is most relevant when developing pricing strategies for pharmaceuticals?
Which of the following ethical considerations is most relevant when developing pricing strategies for pharmaceuticals?
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Which approach is often criticized for neglecting the ethical implications in business strategy?
Which approach is often criticized for neglecting the ethical implications in business strategy?
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What should a student expect to receive from the course manager before the final exam?
What should a student expect to receive from the course manager before the final exam?
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Where can students typically find their final exam room locations?
Where can students typically find their final exam room locations?
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What is NOT advisable for students to do during the final examination?
What is NOT advisable for students to do during the final examination?
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What is the primary purpose of receiving midterm average breakdowns?
What is the primary purpose of receiving midterm average breakdowns?
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What action should a student take if they realize they have misbubbled answers on the exam?
What action should a student take if they realize they have misbubbled answers on the exam?
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What is a principal concern regarding social media companies' management of user data?
What is a principal concern regarding social media companies' management of user data?
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Which principle is critically examined in discussions about corporate social responsibility?
Which principle is critically examined in discussions about corporate social responsibility?
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How does public perception influence the ethical practices of a corporation?
How does public perception influence the ethical practices of a corporation?
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What is a common ethical dilemma faced by businesses regarding product releases?
What is a common ethical dilemma faced by businesses regarding product releases?
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What factor significantly affects the ethical culture within an organization?
What factor significantly affects the ethical culture within an organization?
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What ethical concern is commonly associated with data breaches in companies like Facebook?
What ethical concern is commonly associated with data breaches in companies like Facebook?
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Which principle best illustrates the social responsibilities companies have towards their stakeholders?
Which principle best illustrates the social responsibilities companies have towards their stakeholders?
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How does a company's 'tone from the top' affect its ethical practices?
How does a company's 'tone from the top' affect its ethical practices?
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What is a major criticism of the approach that emphasizes profit maximization in business strategy?
What is a major criticism of the approach that emphasizes profit maximization in business strategy?
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What is a key distinction between legal and ethical standards?
What is a key distinction between legal and ethical standards?
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Which of the following best describes a compliance-based ethics code?
Which of the following best describes a compliance-based ethics code?
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When assessing a business's social responsibility efforts, what is most commonly measured?
When assessing a business's social responsibility efforts, what is most commonly measured?
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Which scenario illustrates something that is legal but potentially unethical?
Which scenario illustrates something that is legal but potentially unethical?
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In ethical decision making, which of the following questions is most pertinent?
In ethical decision making, which of the following questions is most pertinent?
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Flashcards
Managerial Accounting
Managerial Accounting
Focuses on internal management decisions, using reports like daily, weekly, and monthly sales reports.
Financial Accounting
Financial Accounting
Provides financial information to external stakeholders for decision-making.
Audit Accounting
Audit Accounting
Independent examination of financial records to ensure accuracy and compliance.
Tax Accounting
Tax Accounting
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Consulting & Advisory
Consulting & Advisory
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Final Exam
Final Exam
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WatCard
WatCard
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Exam Schedule
Exam Schedule
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Black/Blue Pen or HB2 Pencil
Black/Blue Pen or HB2 Pencil
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Multiple Bubbles
Multiple Bubbles
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Business Model Canvas
Business Model Canvas
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Exam Location
Exam Location
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Last Class Review
Last Class Review
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Exam Resources
Exam Resources
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Final Exam Office Hours
Final Exam Office Hours
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Debt Financing
Debt Financing
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Equity Financing
Equity Financing
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Employee Value Proposition (EVP)
Employee Value Proposition (EVP)
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Golden Handshake
Golden Handshake
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Performance Appraisal
Performance Appraisal
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Financial Planning
Financial Planning
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Financial Statements
Financial Statements
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Ratio Analysis
Ratio Analysis
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Cash Flow Statement
Cash Flow Statement
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Income Statement
Income Statement
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Balance Sheet
Balance Sheet
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Accounting Disciplines
Accounting Disciplines
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Compliance - Audit
Compliance - Audit
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Profit-sharing plans
Profit-sharing plans
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Gain-sharing plans
Gain-sharing plans
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Cost-of-living allowance (COLA)
Cost-of-living allowance (COLA)
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Stock options
Stock options
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Balanced scorecard
Balanced scorecard
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PESTEL analysis
PESTEL analysis
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Porter's Five Forces
Porter's Five Forces
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SMART Goals
SMART Goals
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Module Average
Module Average
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Multiple Choice Exam
Multiple Choice Exam
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Course Manager
Course Manager
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Midterm Averages Breakdown
Midterm Averages Breakdown
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Learn Rough to Detailed
Learn Rough to Detailed
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Ethics
Ethics
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Social Responsibility
Social Responsibility
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What is Facebook's ethical responsibility?
What is Facebook's ethical responsibility?
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What is the ethical issue in the Cambridge Analytica case?
What is the ethical issue in the Cambridge Analytica case?
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How can companies be ethical in the digital age?
How can companies be ethical in the digital age?
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Data Privacy
Data Privacy
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Ethical Concerns
Ethical Concerns
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Digital Ethics
Digital Ethics
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Ethics in Business
Ethics in Business
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Tone from the top
Tone from the top
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Stakeholder Obligation
Stakeholder Obligation
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Ethical Considerations in Drug Development
Ethical Considerations in Drug Development
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What is an ethical dilemma?
What is an ethical dilemma?
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Module Breakdown Email
Module Breakdown Email
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Rough to Detailed Learning
Rough to Detailed Learning
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Ethical Dilemma
Ethical Dilemma
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Cambridge Analytica Case
Cambridge Analytica Case
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Legal vs. Ethical
Legal vs. Ethical
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Good Ethics = Good Business
Good Ethics = Good Business
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Compliance vs. Integrity
Compliance vs. Integrity
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Ethical Dilemma Questions
Ethical Dilemma Questions
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Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR)
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Study Notes
Last Class Review Reminders
- Mock Exam: A mock exam is available to help prepare for the final exam. It consists of short answer and multiple-choice questions.
- Mock Exam Marks: The mock exam is out of 75 marks with 25 marks for short answer and 50 for multiple-choice.
- Marking Criteria: Only multiple-choice questions will be marked. Short answer questions will not be evaluated. The exam is graded out of 50 marks.
- Final Examination: Bring a valid student ID, black/blue pen, or HB2 pencil.
- Answering Multiple-choice Questions: If bubbling in two choices, clearly indicate the correct answer to avoid mistakes.
- Final Exam Schedule: Check the Waterloo Centre website for the exam schedule.
- Final Exam Materials: Look for information about the final exam beforehand to verify what materials are accepted.
- Final Exam Location: Ensure you check the availability of the location of the exam.
- Final Examination Format: The final exam will consist of 85 multiple choice questions, with approximately 4 questions per modules 1 to 6 and 12 for modules 7-11.
- Final Exam - Short Answer Questions: There will be 11-short answer questions, drawn exclusively from Modules 7-11 content.
- Additional Office Hours: Additional office hours have been scheduled for exam assistance. Consult the schedule regarding times, dates and duration.
Lululemon Business Discussion Questions
- Business Discussion Questions: The questions were related to Lululemon in conjunction with the sale and buy analysis of goods, services, or products related to the company.
Accounting Disciplines
- Managerial Accounting: Key stakeholders include Internal Management. Types of information include daily, weekly, monthly reports (e.g., sales, production). Key decisions include strategy and direction, short and long term, buy vs. lease decisions, and breakeven/monitoring variances.
- Financial Accounting: Key stakeholders include external parties like Lenders, Creditors, Investors, and Government/Regulators. Information comprises quarterly or annual financial statements and annual reports. Examples of decisions include lending, investing, meeting covenants, or other regulatory matters.
- Audit Accounting: Key stakeholders consist of Lenders, creditors, investors, and Government/ Regulators. The types of information include audit reports and internal audits. Decisions include lending, investments, licenses and monitoring controls.
- Tax Accounting: Key stakeholders include Government and Management. Types of information are tax returns and related reporting, and tax opinions. Decisions consist of tax planning, charging/collecting taxes, grant eligibility and maintaining credits/incentives.
- Consulting & Advisory Accounting: Key stakeholders are those seeking to solve specific problems. Types of information consist of research reports, and opinions to recommend solutions. Examples of decisions span investments, valuations, expansion, buy/sell processes, and hiring.
Accounting Key Themes
- Financial statements: Includes 3 Financial statements, Cash flow, income statement, balance sheet, accrual analysis (v. cash matching) and expense-to-revenue matching principles.
- Ratio Analysis: Current ratio, acid test, debt to owners' equity, EPS, ROS, ROE and inventory turnover ratio analysis.
Financial Planning
- Financial Planning: Short and long-term forecasting, capital budgeting, operating (master) budget, and cash budget. These elements interlink with financial controls for effective feedback loops.
Financial Management Key Themes
- Financial Management Themes: Source of funds, operations, equity financing, and debt financing.
- Debt Terminology: Include interest rates, repayment, debt securities, covenants, and terminology related to debt.
HR Management Key Themes
- Human Resource Planning: Steps in Human Resource Planning include: preparing a human resource inventory, preparing job analysis, assessing future human resource demand, assessing future human resource supply, and establishing a strategic plan.
- Employee Value Proposition: EVP stands for Employee value proposition, which encompasses the golden handshake and terminations within the organization.
- Legal Considerations: Aspects of the position and role include legal considerations, transition plans, and considerations for protecting assets.
- Performance Appraisal: Establishing and communicating standards, evaluating performance, discussing results, corrective action/next steps and subsequent procedures.
- Pay Systems: Types include salary, hourly wage/daywork, piecework system, commission plans, bonus plans, profit-sharing plans, gain-sharing plans, cost-of-living allowances (COLAs), and stock options.
Management & Leadership
- POLC: Planning, Organizing, Leading, Controlling
- PESTEL: Political, Economic, Social, Technological, Environmental, Legal factors.
- Porter's Five Forces: Bargaining power of suppliers and buyers, threat of new entrants, and threat of substitutes.
- SMART Goals: Specific, Measurable, Achievable, Relevant, Time-bound goals
- SWOT: Strengths, Weaknesses, Opportunities, Threats analysis
- Balanced Scorecard: Framework to measure performance.
- Management Skills: Technical, human relations, and technical skills.
- Leadership Styles: Autocratic, Democratic, Participative and Free-Rein (laissez-faire).
Ethics & Social Responsibility Key Themes
- Ethics of Justice vs. Ethics of Care: Differentiating principles that guide decision-making.
- Ethics Checklist: A framework for assessing actions.
- Legal Compliance: Adherence to legal frameworks.
- Balanced Approach: A reasoned perspective; including feeling and sense of responsibility.
- Social Audit: Measures the company's performance according to social values.
- Triple Bottom Line: Balancing economic, environmental, and social factors.
- Compliance-based vs. Integrity-based Ethics Code: Contrasting approaches to ethics.
- Corporate Philanthropy: Charitable activities of a company.
- Corporate Social Initiatives: Actions to benefit social good.
- Corporate Responsibility: Accounting for the environmental impact/responsibility of organizations and their effects on society.
- Corporate Policy: Guidelines for conducting business ethically.
- Strategic vs. Pluralist Approaches to CSR: Different perspectives on how a corporation should engage in corporate social responsibility (CSR).
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Description
Prepare for your final exam with these essential reminders and guidelines. This mock exam consists of both short answer and multiple-choice questions, designed to help you get ready. Be sure to check the final exam schedule and required materials for a successful exam experience.