Wiley CPAexcel Exam Review 2020 Focus Notes: Business Environment and Concepts

Get effective and efficient instruction for the BEC portion of the CPA exam in 2020 Wiley CPAexcel Exam Review 2020 Focus Notes Business Environment and Concepts reinforce key concepts for the business environment and concepts portions of the Certified Public Accountants exam. Contained in an easy-to-carry spiral-bound book and designed to be easy-to-read and review, these focus notes will help you to learn and retain crucial accounting rules, formulas, concepts, acronyms, and more.

Table of Contents:
Preface xi Corporate Governance and Internal Control 1 Corporate Rights, Responsibilities, and Authority 1 17 Principles of Internal Control 6 Limitations of and Deficiencies in Accounting Controls 10 Categories of Controls 12 Internal Control Monitoring Purpose and Terminology 15 Fraud Risk Management 19 The COSO ERM Model 22 Enterprise Risk Management: Limitations 25 Introduction to Enterprise Risk Management 26 ERM Components, Principles, and Terms 32 ERM Governance and Culture—Principles 1–5 36 ERM Strategy and Objective Setting—Principles 6–7 37 ERM Strategy and Objective Setting—Principles 8–10 38 ERM Performance, Review, and Communication—Principles 10–11 39 ERM Performance, Review, and Communication—Principle 12 40 ERM Performance, Review, and Communication—Principle 13 41 ERM Performance, Review, and Communication—Principle 14 42 Monitoring, Review, and Revision—ERM Principles 15–16 43 Monitoring, Review, and Revision—ERM Principles 16–17 44 ERM Communication and Reporting—Principle 18 45 ERM Communication and Reporting—Principles 19–20 46 Information Technology and Communications 48 Risks and Controls in Computer-Based Accounting Information 48 The COBIT Model of IT Governance and Management 50 System Development and Implementation 53 Introduction to E-Business and E-Commerce 55 Risks of E-Commerce 56 Introduction to Enterprise-Wide and Cloud-Based Systems 57 Data Structures, Software, and Databases 59 Information Systems Hardware 61 Size and Power of Computers 62 Storage Devices 63 Transaction Processing 64 Accounting System Cycles 65 Emerging AIS Technologies 66 What is Big Data? 71 Bitcoin 73 Blockchain 75 Artificial Intelligence and Machine Learning 77 Computer Networks and Data Communications 84 The Internet—Structure and Protocols 86 Economic Concepts 89 Demand 89 Supply 93 Market Equilibrium 96 Consumer Demand and Utility Theory 98 Inputs and the Cost of Production 99 Gross Measures—Economic Activity 101 Gross Measures—Employment/Unemployment 102 Aggregate Demand and Supply 103 Business Cycle 104 Price Levels and Inflation/Deflation 106 Money, Banking, and Monetary/Fiscal Policy 109 Reasons for International Activity 111 Introduction to Business Strategy and Market Analysis 115 Financial Management 116 Introduction to Financial Management 116 Time Value of Money Tools 120 Financial Valuation 122 Introduction and the Payback Period Approach 123 Introduction and Financial/Capital Structure 128 Introduction to Working Capital Management 136 Accounts Receivable Management 140 Quality and Inventory Management 141 Quality Control 145 Performance Measures and Management Techniques 152 Manufacturing Costs 152 Costing Methods 154 Cost Behavior Patterns 158 Absorption and Direct Costing 163 Joint and By-Product Costing 169 Budgeting 172 Master and Static Budgets 173 Forecasting Techniques 179 Cost-Volume-Profit Analysis Calculations 182 Transfer Pricing and Benchmarking 184 Measurement Frameworks 185 Project Management and Benchmarking 190 Index 194