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53 Cards in this Set
- Front
- Back
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The various appliances and devices for creating, storing, exchanging, and using information in diverse modes, including visual images, voice, multimedia, and business data
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Information Technology (IT)
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- The use of the Internet and other electronic means for retailing and business-to-business transactions
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E-commerce (Electronic commerce)
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A gigantic system of interconnected computers of more than 100 million computers in over 100 countries
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Internet
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Private internal information networks accessible only by employees
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Intranet
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Allow outsiders limited access to internal information networks
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Extranet
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Allows groups of people to communicate simultaneously from various locations via email, phone, or video
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Electronic Conferencing
o Data conferencing o Video conferencing |
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Use airborne electronic signals to link computers and devices
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Wireless Networks
o BlackBerry system |
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Hardware
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Physical Components
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Software
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Application
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Data
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Raw facts and figures
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The meaningful, useful interpretation of data
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Information
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Cybercriminals who gain unauthorized access to a computer or network
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Hackers
o Wireless mooching o Denial of Service (DOS) Attacks |
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Stealing of personal information to get loans, credit cards, or other monetary benefits by impersonating the victim
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Identity Theft
o Phishing o Pharming |
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Security system w/ special software or hardware devices designed to keep computers safe from hackers
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Firewall
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A comprehensive system for collecting, analyzing and communicating financial information
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Accounting
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Users of Accounting Information
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- NOT CUSTOMER
- Business managers - Employees and unions - Investors and creditors - Tax authorities - Government regulatory agencies |
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Manages all of a firm’s accounting activities
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Controller
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Financial Accounting
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External
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Managerial
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Internal
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Makes sure everything is accurately and fairly presented
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Auditing
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Assist in the investigation of business and financial issues that may have application to a court of law
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Forensic Accountants
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Enacted to restore public trust in corporate accounting practices as a direct response to corporate financial abuses
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Sarbanes-Oxley Act of 2002 (Sarbox)
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Sarbox Compliance Requirements
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Chairman, CFO and CEO have to sign off on financial records
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The Accounting Equation
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Assets = Liabilities + Owners’ Equity
Assets – Liabilities = Owners’ Equity (or Net Worth) |
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Any economic resource that is expected to benefit a firm or an individual who owns it
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Asset
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A debt that the firm owes to an outside party
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Liability
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Money that owners would receive if they sold all of a company’s assets and paid all of its liabilities
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Owner's Equity
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Supplies detailed information about assets, liabilities, and owners equity
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Balance Sheet
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Assets
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Current Assets
Fixed Assets Intangible Assets |
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Current Assets
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Cash/assets that can be converted into cash within a year
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Fixed Assets
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Capital that has long-term use or value
o Example: Building and Land |
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Intangible Assets
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Patents, trademarks, copyrights, etc.
Example: Goodwill – the reputation that you pay for with the business Freebirds Dixie Chicken |
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Liabilities
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Current Liabilities
Long-Term Liabilities |
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Current Liabilities
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Debts that must be paid within one year, including accounts payable
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Long-term Liabilities
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debts not due for at least a year
o Example: Student Loan |
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Income Statement (Profit and Loss Statement)
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Revenues less expenses
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A detailed report on estimated receipts and expenditures for a future period of time
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Budget
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Money
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Medium of Exchange
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What money must be?
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- Portable – able to carry it around
- Divisible - Durable - Stable – Hope is that the us dollar varries slightly o Value |
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Mutual Savings
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Dividends
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Credit Union
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Have to be a member of that institution
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Federal Deposit Insurnace Corporation (FDIC)
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Requirement: How much money the bank has to keep on hand
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The Fed? AKA?
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The Nations Central Bank
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How many locations does the fed have?
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12
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Where is the HQ for Texas?
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Dallas
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Each HQ has what?
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Branches
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How many branches in texas?
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3
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Where are the branches in texas?
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Austin, El Paso, Houston
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How many members for the Board of Governors?
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7
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How is the board of governors terms structures?
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14 year overlapping terms
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Misti Hill
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Started as accountant then went to law
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Mark Jameson
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Allstate Insurance
- Sole Prop - Moving towards a corp next year |
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Cal McNeil
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1st National Bank
- Sr. VP |
