Too much information technology (IT)sophistication within the financial service industry has alienated customers and created several ethical and moral issues instead of enhanced and quality services. Explain 4 reasons why this statement is TRUE.
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Too much information technology (IT)sophistication within the financial service industry has alienated customers and created several ethical and moral issues instead of enhanced and quality services.
Explain 4 reasons why this statement is TRUE.
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- Why does the high cost of the system negatively impact the organization's bottom line?COMMUNICATIONS Before the mid-1970s, systems programmers and businesspeople (including accountants) did not communicate well with one another. The programmers were critized for using too much jargon, and the businesspeople were criticized for not adequately expressing their needs. Efforts have been made to overcome this communication gap, but room for impprovement still exixts. What problems do you think may result from this communication gap? What can you do to help further close the gap when you enter the workforce?1. Cite specific examples of risk avoidance, Reduction, Transfer and Retention? 2. What is the significance of internal control in an organization? Cite an example of a company that failed due to IC deficiency?
- 1.Which of the following statements is not correct about ESG? a.A mature ESG presence helps companies identify and tap into new markets, reach underserved customer bases, and innovate new products and services. b.A mature ESG presence leads to cost savings by reducing operating costs associated with material inputs (like water, energy from fossil fuels, soil). c.ESG information is used to understand enterprise risk management. d.ESG is about avoiding investment in companies that do not share one’s values. 2.What is a stakeholder? (Select all that apply) a.Someone who does construction staking for new building design plans b.An employee of a company c.A customer d.Someone who owns a “stake” in a company 3.What does a materiality assessment do? a.Assess what types of materials a company needs to create a product. b.Assess what ESG issues are most important to the long-term success of the business and most important to stakeholders. c.Assess a company’s marketing…3 Outsourcing IT services has grown in popularity due to a variety of factors, according to you. There is a possibility that this could help the banking and financial sectors. Why or why not?Indicate whether each of the following statements is true or false. 1. When designing an accounting system, we need to think about the needs and knowledge of both the top managers and various other users. 2. When the environment changes as a result of technological advances, increased competition, or government regulation, an accounting system does not have to be sufficiently flexible to meet the changes in order to save money. In developing an accounting system, cost is relevant. The benefits obtained from the information disseminated must outweigh the cost of providing it. 3. >
- 14) Abusive behavior is difficult to assess and manage because of A) different rating companies. B) diversity in culture and lifestyle. C) the fact that it leads to higher levels of unemployment. D) the debate surrounding the acceptability. 14) E) ethical issues that often emerge from conflict.Firms with higher ethical standards will experience a higher level of economic performance than firms with lower or poor ethical standards. Do you agree? Why or why not?PLEASE IDENTIFY AN ORGANIZATION If a firm is performing poorly financially, what might this say about the differentiators, arenas, or both? Use a specific organization as an example and apply Hambrick and Frederickson's Strategy Diamond in your response.
- Do some research (use sources other than your prescribed textbook) and explain why it is important for businesses to have ethical standards and codes of conduct for financial managers.Include another example where poor ethical practices by people in a management or trust position have led to significant losses.Economic consequences of accounting standard-setting means: a. standard-setters must give first priority to ensuring that companies do not suffer any adverse effect as a result of a new standard. b. standard-setters must ensure that no new costs are incurred when a new standard is issued. c. the objective of financial reporting should be politically motivated to ensure acceptance by the general public. d. accounting standards can have detrimental impacts on the wealth levels of the providers of financial information.1. What is not a cloud computing benefit? a) Accessibility improvement b) Safer storge c) A and B d) Increase cost 2. Cost that cannot be conveniently and economically traced to a cost objected is a) Direct cost b) Fixed cost c) Indirect cost d) None of above 3. Price decisions and customer profitability are an example of strategic management accounting. a) True b) False 4. Information that is required across various types of a company structure is not significantly varied. a) True b) False 5. What are internal Sources of information: a) Previous Financial statements b) Internet c) Customers
