Assignment 3 Alex LoVerde

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School

Kennesaw State University *

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1322

Subject

Accounting

Date

Jun 14, 2024

Type

docx

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Uploaded by PrivateExploration14575

SWE Application Domain Assignment #3 Alex LoVerde (My answers are in black, ChatGPT answers are in red ) 1. Describe basic accounting and finance techniques used by internal management. Constraint Analysis – Identifies errors in the production of goods and services to help companies run smoothly Cash Flow Analysis – Studies impact of individual transactions or financial decisions from a company Capital Budgeting – Analysis of information to make decisions related to capital spending, involves computing the internal rate of return (IBR) and net present value (NPV) Internal management utilizes basic accounting and finance techniques including budgeting, cost accounting, financial analysis, forecasting, cash flow management, performance measurement, risk management, and capital budgeting. These tools help in planning, controlling expenses, assessing performance, managing cash flow, mitigating risks, and making informed investment decisions. 2. Discuss the relationships between manual accounting applications and computerized accounting applications. Manual accounting is more prone to errors than computerized accounting due to manual data entry, computerized accounting has validation and error-checking. Manual accounting applications involve traditional paper-based methods, while computerized accounting applications utilize software and digital tools. Computerized systems offer enhanced functionality, real-time reporting, and automated calculations. While many organizations have transitioned to computerized systems for efficiency, some still use a combination of manual and computerized methods. Both systems may coexist, with computerized systems often providing better audit trails and compliance features. 3. Describe/Define a Trial Balance, how they are used, and how many types there are. A trial balance is a financial report with consists of credit entries and debit entries used by businesses to internally audit double entry accounting systems. A trial balance is a financial statement that lists all the ledger accounts with their respective debit or credit balances to ensure that total debits equal total credits. It's used to check the accuracy of the accounting records and to prepare financial statements. There are two types: the unadjusted trial balance, prepared before

adjusting entries, and the adjusted trial balance, prepared after adjusting entries have been made. 4. Describe/Discuss the difference between fiscal and calendar years, accrual versus cash-basis accounting. The difference between accrual vs. cash basis accounting is which tax year your income and expenses are recorded in, and in cash basis accounting your income is recorded when you receive it while in accrual income is recorded when you earn it. Accrual accounting records revenues and expenses when they're incurred, regardless of when cash exchanges hands, providing a more accurate representation of financial health. Cash-basis accounting, however, records revenues and expenses only when cash is exchanged, offering a simpler but potentially less accurate view of financial performance. 5. Describe a project backlog A project backlog is a structured list of deliverables that are a part of a project’s scope. A project backlog is a prioritized list of tasks or features that need to be completed within a project. It serves as a repository for all pending work and helps teams manage and prioritize tasks effectively. 6. Discuss the difference between SQL and SQL-Lite. SQL-Lite is a serverless database management system which can be embedded into the application, while SQL is a client-server database system that consists of a database sever and client applications that connect to it. SQL (Structured Query Language) is a standard language used for managing and manipulating relational databases. SQLite is a specific implementation of SQL that is lightweight, self-contained, and serverless, meaning it doesn't require a separate server process to function. While both use SQL for querying and managing data, SQLite is primarily designed for embedded systems and local storage, whereas SQL can be used in a wide range of database management systems including MySQL, PostgreSQL, and Microsoft SQL Server. 7. Discuss the Agile (Safe) and the key components - roles, key terms, methodology. Scaled Agile Framework (SAFe) is a set of organizational and workflow patterns that implement agile practices at an enterprise scale. SAFe promotes collaboration, alignment, and delivery across large numbers of team, and was formed around agile software development, lean product development, and systems thinking. Core values of SAFe include alignment, built-in quality, transparency, program execution, and leadership.

Agile, specifically the Scaled Agile Framework (SAFe), is an approach to software development that emphasizes iterative development, collaboration, and flexibility. Key components include roles like Product Owner, Scrum Master, and Agile Team members; key terms such as Epics, Features, and User Stories; and a methodology that involves iterative planning, execution, and review cycles, focusing on delivering value to customers efficiently.

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