Answer:
a. Quality Software - Prescriptive Analytics
b. ABC Supermarket - Descriptive Analytics
c. Global Hospitality - Diagnostic Analytics
d. XYZ - Predictive Analytics
e. Manufacturing - Descriptive Analytics
Explanation:
Descriptive analytics is the strategy which uses the past data and creates a summary for historical data to create future analysis.
Predictive Analytics is the strategy which uses statistical calculations and models to predict the future.
Diagnostic Analytics is the strategy which the analyst observes the past event and then examines why certain situation happened. This is used by analysts to make sure that historic mistakes are not repeated.
Prescriptive Analytics is the strategy in which strategic planning is made after the operational activities are analyzed and then strategies are formed in order to plan future performance.
Answer and Explanation:
A. Given that Design 1A will cost $1.7 million to build and $175,000 per year to maintain
Given that Design 1B will cost $3.6 million to build and $40,000 per year to maintain
Both designs are assumed to be permanent
To find ROR using AW based rate of return equation, we find present value of each design and equate them:
Each design is permanent so
Present value of perpetuity:
Design 1A= 1700000+175000/r
Design 1B = 3600000+40000/r
=1700000+175000/r=3600000+40000/r
135000/r=1900000
Cross multiply
r=135000/1900000
r= 0.0710
r=7.10%
B Given that ROR=7.10% and MARR is 25%
MARR>ROR
Hence we reject both designs
Answer 4:
Following are the six business management perspective:
- Ethical Stance
- Strategic aspects of the decision
- Risk Management
- CSR Aspect
- Process Management Aspects
- Leaders Perspective
Answer 5:
IMA stands for Institute for Management Accountants.
The IMA Statement of Ethical Professional Practice has listed following four standards for the professionals who are member of IMA to comply with:
- Competence: The member must be competent in his role in accordance to his experience, skills, knowledge, complying laws & regulation and always acting ethically.
- Confidentiality: Must not breach the confidentiality implied duty on him except in situations when disclosure of information is mandatory by law.
- Integrity: Must be straight forward and there must be no self interest in his dealings with the company and must considerably reduced.
- Credibility: Communicate the results with unbiased decision making.
Answer 6:
Because freedom does not means that our self interest is everything. We owe duty of care to people who rely on our acts. An accountant, auditor or internal auditor must act ethically or universally that benefits everyone without breaking the laws and ethical duties imposed by the professional bodies. If we go back to Enron case, we see that the External auditor was not acting in the public interest and as a result Enron which was the world's first $100 billion dollars company collapsed. The collapse of Enron bankrupt many pension companies which further affected the lives of the ordinary person in the USA. Furthermore, due to collapse of Enron, a lot of people withdraw the amount invested in Stock exchange. Dozens of companies and millions of people suffered from this unethical behaviour of professionals.
Answer 7:
Corporate Social Responsibility means that the company is just like an human being and its operations must not harm the environment, so this the least duty which the stakeholders expect from them. Being a good social beings, the companies must try to stable the environment situation in its surrounding and wherever its stakeholders live. For Example, The refinery companies have stopped poluting the oceans with their oil spills, now they have opted to newest technology that will eliminate the harmful effects of their oil spills and bring stability in the environment.
Another example includes the lower usage of natural resources. In UK it is the companies responsibility to reduce its natural resources usage which will lower the pollution. This additional care has a cost and may lead to lower competitiveness of the products so there must be a law globally that enforces to act socially responsible.
Answer:
Ending inventory= $494
Explanation:
Giving the following information:
On January 26, the company sells 350 units. 150 units remain in ending inventory on January 31.
January 1: 320 units for $3.00
January 9: 80 units for $3.20
January 25: 100 units for $3.34
Ending inventory= 100*3.34 + 50*3.2= $494
Answer:
Contraction cycle or Recession
Explanation:
The cyclical unemployment is due to the cycles of economy ( expantion:Grow and contraction: recession) Under these circumstances unemployment is considered normal as the economy cannot sustain itself always in an expansion cycle.
