Role of accounting function in business:
Accounting functions provide valuable financial information to both the internal and external stakeholders to ensure sound decision making.
They mitigate the risks associated with the business by ensuring smooth and efficient functioning of the organization.
• Option a is correct as accounting functions prepare financial statements at the end of every financial year to provide a true and correct view of the financial position of the firm and helps in financial planning and forecasting.
• Option b is correct as accounting function adheres to the business laws and statutory procedures while performing the assigned tasks.
• Option c is correct as accounting function helps in project management by providing the financial reports regarding the costs of the project, laborhours and various other expenses related to the project thereby easing the task of the project manager.
• Option d is correct as accounting function helps in making the business processes and services effective and accurate by using the IT services
Hence, all the above options are correct, thus the correct option is
Business process model and notation (BPMN) models
It is presentation for specifying business processes in a model of business process graphically. Business process management initiative has developed it. It is used to support both the technical users and business users.
In the question, the process of ordering a coffee from company S is given. The process starts with the customer selecting the coffee and ordering the coffee from the outlet of the company. The order is recorded and is fulfilled by the store to the customer.
The customer is given the option to pay via cards, or cash, or by the gift cards of the company. The customer paid the company with the gift card. The payment is made and the receipt is generated.
The BPMN model created to support the answer to the question is given below:
The above diagram explains the mix roles of the customer and company S in the process of purchasing of the coffee from the outlet of the company with the gift card of the company.
The above process starts with the event where customer reviews the menu to order the coffee. The process goes on and it ends with the event where the payment is made with the gift card and receipt is generated by the company.
The process can be explained by the starting event of reviewing the menu, and then the order is placed. After that, the order is delivered to the customer once it is prepared by the store.
In the end, when the order has been delivered to the customer, the payment options are given to the customer, in which the payment can be made through cash, credit cards, or the gift cards that the customer gets from the company.
The customer ends the process by paying the company for the order placed by him. The option that is chosen by the customer to pay to the company is by the gift card. The company generates the receipt and the receipt is given to the customer.
Value of business models :
Business models are graphical representation of the business information clearly and concisely that helps in communication, analyzing and planning the business transformations.
Option a is correct as business models offer communication tool that involves various parties to discuss about the probable changes in the business.
Option b is correct as business models offer planning tool to forecast the analysis done and take appropriate measures to accomplish the goals.
Option c is correct as business models offer process improvement tool to mitigate the risks involved in the business and enhance the quality and productivity of the operations.
Option d is correct as business models offer tool for managing complexity of the process by creating automated tools to reduce errors and increase the efficacy of the business process.
Option e states that all the above options are included in value of business models.
Hence, all the above options are correct. Thus, the correct option is