Looking for Quiz 2 :
Accountants As Business Analysts
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Which of the following is not a role of the accounting function in business? a. Financial close
B) Regulatory compliance
C) Project management
D) Using IT to make finance and accounting processes more efficient
E) All of the above are roles of the accounting function.
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Multiple Choice
Answer:
Answer:
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
.
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Identify the start and end events and the activities in the following narrative, and then draw the business process model using BPMN:
The Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista recorded the payment and returned the card along with the receipt to the customer.
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Essay
Answer:
Answer:
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.
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Which of the following best describes the value of business models? a. A communication tool
B) A planning tool
C) A process improvement tool
D) A tool for managing complexity
E) All of the above
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Multiple Choice
Answer:
Answer:
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
.
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How could a BPMN activity model support the Accounting/Finance Operations roles shown in Table 2.1?
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Which of the following symbols is used to represent sequence flow in BPMN?
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Which of the following is not a purpose of business process documentation? a. Facilitating process improvement
B) Specifying accountability
C) Training
D) Supporting internal audit
E) All of the above are purposes of business process documentation.
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Which of the following describes how participants in a process are identified in BPMN? a. Message flows
B) Swim lanes
C) Pools
D) Gateways
E) Both b and c
F) Both a and d
Multiple Choice
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Draw a business process model using BPMN from the following narrative:
Larry awoke to his alarm clock buzz. He got up and dressed for the day. Then, he ate a hearty breakfast of oatmeal, toast, orange juice, and coffee. He grabbed his books and prepared to leave for school. Before he left home, he checked the weather. If it looked like rain, he put on a jacket and took his umbrella, and he drove to school. If it looked sunny, he left his jacket and umbrella at home and walked to school. If he drove to school, he parked his car and walked to class. If he walked to school, he went straight to class.
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Compare BPMN activity diagrams with flowcharts and DFDs. What is different? What is the same? When would one notation be better or worse than another?
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Do you think that your accounting education has prepared you for all roles of an accountant in business? Which roles do you feel best prepared for? Which roles do you feel least prepared for? Why?
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Which of the following statements about BPMN is not true? a. Arrows represent sequence flows.
B) The BPMN specification is maintained by the Object Management Group (OMG).
C) Events are modeled with a circle symbol.
D) Annotations allow the modeler to add descriptive text.
E) All of the above are true.
Multiple Choice
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Which of the following is not an example of business process documentation? a. Business process models
B) Training manuals
C) Organization charts
D) Internal audit
E) All of the above are examples of business process documentation.
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