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8 Cards in this Set
- Front
- Back
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What is the key phrase for Financial Management?
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Cost-effective stewardship of IT assets.
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What is the mission?
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Cost-effective stewardship of IT assets to fully account for all expenditures.
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What are the three parts of Financial Management?
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Budgeting, accounting, charging
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If we implement a charging policy it must be____?
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Fair, equitable and consistent.
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The three types of finance centers are?
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1. Accounting or cost center
2. Recovery center 3. Profit center |
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What would we use to directly influence end user or customer behavior?
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Charging policies
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What is notational charging?
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Notational charging implements full accounting practices without actually sending an invoice to the customer.
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What are some of the key benefits for Financial Management?
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• Provides the basis for all IT strategic directions.
• Determines the true costs of IT services. • Produces accurate and credible reports. • Communicates IT performance in terms of dollars rather than “bits and bytes”. • Influences customer behavior. • Measures the effectiveness and efficiency of IT operations and it’s progress toward improvement. • Prioritizes actions and resource assignments |
