ACCT 425 EXAM QUESTIONS & ANSWERS
What is PWC measuring with digital IQ? - Answer --how well co understand value of IT,
committed to it strategically and weave into org
-how well C-suite execs are on same page: discussing/implementing IT to meet bus.
goals & objectives
-how well co can generate value from virtual value chain
indicators of high digital IQ - Answer --CEO is committed to digital innovation (strategic
use of IT)
-co is investing aggressively in IT (spend from outside trad. IT budget)
-communicate bus. and digital strategies thruout enterprise
-actively search for new ideas and emerging IT (outside approach to IT)
-utilize data to gain insight and drive value
-proactively assess and improve cyber security
-strategic digital enterprise level roadmap
-consistently measure outcome of digital investments
why is role of CEO so impt? - Answer --CEO sets the stage (his/her vision becomes
part of co)
-large IT proj are long-term, expensive, challening (req focus and commitment)
-IT proj are risky, cause significant change, and present mgmt challenges
why is digital IQ relevant? - Answer -rapidly changing world and environment,
understand value of IT and weave into org
-collab and underst. in C-suite
-making IT decisions from bus goals perspective
-discovering and experimenting with new IT
why is open innovation disruptive? - Answer -new way of thinking about utilizing
resources and creating value in business
what are some examples of open innovation? - Answer --open source software
-prosumers
-peer production
-R&D consortiums
-global production arrangements
-Business webs
what is the LAMP stack? - Answer -Linux
Apache
MySQL
PHP and Perl
, what is driving and making possible the "new world of open innovation? - Answer --
ubiquitous, low-cost IT and collaborative users
-Web 3.0 the interactive collab. web
-convergence of computing telecom and mobility
-Web services - business value chains global business info
what is an open platform? - Answer --companies exposing their computer platform
databases and software assets to the world
-to create synergistic relationships ith other businesses and skilled individuals
-creates insights and innovative relationships that create more valuable goods
what is being referred to as the knowledge revolution - Answer -sharing
what is driving the knowledge revolution? - Answer --digitized->globalized
-network->collaborate
-open IT standards -> more diverse participants
What are some examples of knowledge platforms in accounting? - Answer -PWC
Edgarscan
E&Y Online
FAF - Financial Acct Foundation
Why is intellectual capital arguably the most meaningful form of capital? - Answer --
information assets
-manage a portfolio
-the network effect
Why is Moore's Law relevant? - Answer -exponential increases in computing power =
exponential accelerating change
Why is Metcalf's Law relevant? - Answer -the network effect includes all of your
partners and stakeholders in your business ecosystem
What is ESG? - Answer -Environmental Social Governance
What is GRI? - Answer -Global Reporting Standards
How does Dell coordinate/manage inventory, supply hubs, and assembly plants to
support 1 day customized delivery? - Answer --centralized RP
-manufacturing schedules every hr
-interact directly with inventory mgmt systems
-implemented "event mgmt system"
-used business partner "Score sheets"
What is PWC measuring with digital IQ? - Answer --how well co understand value of IT,
committed to it strategically and weave into org
-how well C-suite execs are on same page: discussing/implementing IT to meet bus.
goals & objectives
-how well co can generate value from virtual value chain
indicators of high digital IQ - Answer --CEO is committed to digital innovation (strategic
use of IT)
-co is investing aggressively in IT (spend from outside trad. IT budget)
-communicate bus. and digital strategies thruout enterprise
-actively search for new ideas and emerging IT (outside approach to IT)
-utilize data to gain insight and drive value
-proactively assess and improve cyber security
-strategic digital enterprise level roadmap
-consistently measure outcome of digital investments
why is role of CEO so impt? - Answer --CEO sets the stage (his/her vision becomes
part of co)
-large IT proj are long-term, expensive, challening (req focus and commitment)
-IT proj are risky, cause significant change, and present mgmt challenges
why is digital IQ relevant? - Answer -rapidly changing world and environment,
understand value of IT and weave into org
-collab and underst. in C-suite
-making IT decisions from bus goals perspective
-discovering and experimenting with new IT
why is open innovation disruptive? - Answer -new way of thinking about utilizing
resources and creating value in business
what are some examples of open innovation? - Answer --open source software
-prosumers
-peer production
-R&D consortiums
-global production arrangements
-Business webs
what is the LAMP stack? - Answer -Linux
Apache
MySQL
PHP and Perl
, what is driving and making possible the "new world of open innovation? - Answer --
ubiquitous, low-cost IT and collaborative users
-Web 3.0 the interactive collab. web
-convergence of computing telecom and mobility
-Web services - business value chains global business info
what is an open platform? - Answer --companies exposing their computer platform
databases and software assets to the world
-to create synergistic relationships ith other businesses and skilled individuals
-creates insights and innovative relationships that create more valuable goods
what is being referred to as the knowledge revolution - Answer -sharing
what is driving the knowledge revolution? - Answer --digitized->globalized
-network->collaborate
-open IT standards -> more diverse participants
What are some examples of knowledge platforms in accounting? - Answer -PWC
Edgarscan
E&Y Online
FAF - Financial Acct Foundation
Why is intellectual capital arguably the most meaningful form of capital? - Answer --
information assets
-manage a portfolio
-the network effect
Why is Moore's Law relevant? - Answer -exponential increases in computing power =
exponential accelerating change
Why is Metcalf's Law relevant? - Answer -the network effect includes all of your
partners and stakeholders in your business ecosystem
What is ESG? - Answer -Environmental Social Governance
What is GRI? - Answer -Global Reporting Standards
How does Dell coordinate/manage inventory, supply hubs, and assembly plants to
support 1 day customized delivery? - Answer --centralized RP
-manufacturing schedules every hr
-interact directly with inventory mgmt systems
-implemented "event mgmt system"
-used business partner "Score sheets"
