BUSN 201 - Final Exam Study Guide
Questions and Answers
Accounting - correct answer-Practice of systematically recording, measuring, analyzing,
and communicating information.
Accounting Process: Data Gathering - correct answer-Identify all the broad groups of
sustainability informatino required and prioritize them.
Accounting Process: Data Evaluation - correct answer-Measure social and
environmental benefits and costs and consider impacts on both the company and
society, both current and future.
Accounting Process: Reporting - correct answer-Dissemination of information to internal
and external users.
Accounting Process: Management Control - correct answer-Use the accounting
information to measure and control activities and to assist with data the decision-making
processes.
Accounting Process: Goal: Stakeholder Accountability - correct answer-Give an
explanation and justification to relevant stakeholders for organization's judgements,
intentions, acts, and ommisions.
Traditional Accounting - correct answer-Involves the identification, acquisition,
measurement, and analysis of financial data in order to support companies' decision-
making process.
Sustainability Accounting - correct answer-Controlling, and reporting revolves around
environmental, social, and economic information.
Materiality - correct answer-Materiality suggests there is a shared importance between
a specific issue to both the company and its stakeholders.
Accounting Process - correct answer-Phase 0: Gather all groups of sustainability info
(triple bottom line,
stakeholders, ethics)
■ Phase1: measure social and environmental benefits and costs
■ Phase 2: Report/disseminate info to stakeholders
■ Phase 3: use accounting info to make decisions
■ Goal: stakeholder accountability - provides info to stakeholders to enable
, them to keep the company accountable
Financial impacts/risks - correct answer-Issues that may have a financial impact or may
pose a risk to the sector in the short-, medium-, or long-term.
Legal/regulatory/policy drivers - correct answer-Sectorial issues that are being shaped
by emerging or evolving government policy and regulation.
Peer-based norms - correct answer-Sustainability issues that companies in the sector
tend to report on and accept as important drivers for their business activities.
Stakeholder concerns and societal trends - correct answer-Issues that are of high
importance to stakeholders, including communities, non-governmental organizations
and the general public, and/or reflect social and consumer trends.
Opportunity for innovation - correct answer-Areas where the potential exists to explore
innovative solutions that benefit the environment, customers and other stakeholders,
establish sector leadership and create competitive advantage.
Financial Management - correct answer-The planning, organizing, budgeting, directing,
controlling, and governance of the financial activities such as procurement and
utilization of funds of an organization.
Good Equity - correct answer-A firms value built ethically, responsibly, and sustainably.
Finance informs Management decision making (3 phases) - correct answer-(Phase 1)
Procurement of funds
■ (Phase 2) Internal investment decision
■ (Phase 3) Financial results (payout or dividend)
Crowdfunding - correct answer-A process thatseeks to attract many, comparitively small
invenstments from a large group of people, typically customers.
Cross-financing - correct answer-A model by which a non-profit organization obtains
funding from a social enterprise that is associated with the organization.
Microfinance - correct answer-Many people lend small amount of money.
Operations - correct answer-The design and management of products, processes,
services, systems, and supply chains for a business.
Operations Management - correct answer-The area of management concerned with the
effectiveness and
efficiency of processes for the production of goods and services
Questions and Answers
Accounting - correct answer-Practice of systematically recording, measuring, analyzing,
and communicating information.
Accounting Process: Data Gathering - correct answer-Identify all the broad groups of
sustainability informatino required and prioritize them.
Accounting Process: Data Evaluation - correct answer-Measure social and
environmental benefits and costs and consider impacts on both the company and
society, both current and future.
Accounting Process: Reporting - correct answer-Dissemination of information to internal
and external users.
Accounting Process: Management Control - correct answer-Use the accounting
information to measure and control activities and to assist with data the decision-making
processes.
Accounting Process: Goal: Stakeholder Accountability - correct answer-Give an
explanation and justification to relevant stakeholders for organization's judgements,
intentions, acts, and ommisions.
Traditional Accounting - correct answer-Involves the identification, acquisition,
measurement, and analysis of financial data in order to support companies' decision-
making process.
Sustainability Accounting - correct answer-Controlling, and reporting revolves around
environmental, social, and economic information.
Materiality - correct answer-Materiality suggests there is a shared importance between
a specific issue to both the company and its stakeholders.
Accounting Process - correct answer-Phase 0: Gather all groups of sustainability info
(triple bottom line,
stakeholders, ethics)
■ Phase1: measure social and environmental benefits and costs
■ Phase 2: Report/disseminate info to stakeholders
■ Phase 3: use accounting info to make decisions
■ Goal: stakeholder accountability - provides info to stakeholders to enable
, them to keep the company accountable
Financial impacts/risks - correct answer-Issues that may have a financial impact or may
pose a risk to the sector in the short-, medium-, or long-term.
Legal/regulatory/policy drivers - correct answer-Sectorial issues that are being shaped
by emerging or evolving government policy and regulation.
Peer-based norms - correct answer-Sustainability issues that companies in the sector
tend to report on and accept as important drivers for their business activities.
Stakeholder concerns and societal trends - correct answer-Issues that are of high
importance to stakeholders, including communities, non-governmental organizations
and the general public, and/or reflect social and consumer trends.
Opportunity for innovation - correct answer-Areas where the potential exists to explore
innovative solutions that benefit the environment, customers and other stakeholders,
establish sector leadership and create competitive advantage.
Financial Management - correct answer-The planning, organizing, budgeting, directing,
controlling, and governance of the financial activities such as procurement and
utilization of funds of an organization.
Good Equity - correct answer-A firms value built ethically, responsibly, and sustainably.
Finance informs Management decision making (3 phases) - correct answer-(Phase 1)
Procurement of funds
■ (Phase 2) Internal investment decision
■ (Phase 3) Financial results (payout or dividend)
Crowdfunding - correct answer-A process thatseeks to attract many, comparitively small
invenstments from a large group of people, typically customers.
Cross-financing - correct answer-A model by which a non-profit organization obtains
funding from a social enterprise that is associated with the organization.
Microfinance - correct answer-Many people lend small amount of money.
Operations - correct answer-The design and management of products, processes,
services, systems, and supply chains for a business.
Operations Management - correct answer-The area of management concerned with the
effectiveness and
efficiency of processes for the production of goods and services
