Questions and Answers of Introduction To Accounting

Assuming that an organization is not already using the digital technologies you identified above, how could using them improve the functioning of its information systems? (E.g. how would using them
What are strategic information systems? How can they transform the strategic positioning of an organization? (Identify five ways they can transform it)
Identify two organizations that are exemplar users of information systems as powerful strategic weapons.
What is the role of accountants in the efficient and effective functioning of infor- mation systems?
What is the role of accounting and finance managers in the efficient and effective functioning of information systems?
Digital technology advancements
Identify five actions that accountants can take to improve the effectiveness and efficiency of information systems in their organization.
What is the difference between the terms digital disruption, disruptive technology, and disruptive innovation?
How do digital technology advancements cause disruption?
What are the three types of disruption caused by the introduction of new digital technologies or breakthroughs in existing ones?
What are the different ways digital disruption manifests itself in an organization’s financial performance?
Which digital technology advancement has had the most disruptive impact on the accounting profession in the last ten years?
Which digital technology trend is likely to have the most disruptive impact on the accounting profession in the next ten years?
What are the three common types of game-changing opportunities that can be seized by leveraging digital technology advancements?
What is the diference between adaptability, agility, and ambidexterity?
How can an organization use digital technologies to enhance its adaptability?
How can an organization use digital technologies to enhance its agility?
How can an organization use digital technologies to enhance its ambidexterity?
What is the role of accountants in guarding against digital disruption in their organizations?
In an entry level role, what can an accounting graduate do to contribute to the adaptability, agility, and ambidexterity of their organization?
What is the difference between the terms digital transformation and digital business transformation?
Which of the definitions of digital business transformation provided above makes the most sense to you? Why?
What does the common assertion that “digital transformation is not about technology” mean?
Are any businesses you know of fully digital businesses? If not, what can make them fully digital businesses?
Once an organization becomes a digital business, does it have any need for digital transformation?
What is meant by the assertion that digital business is “a change process or a journey”?
What is meant by the assertion that digital business is “a future state”?
What are the top four benefits of being a digital business? Why are these more important than other benefits ?
What is the digital business imperative?
People often talk about the digital business imperative and the digital transformation imperative. Are these the same or different?
What are some challenges and risks of digital business transformation?
What is the success rate for transformation efforts in general? What is the success rate for digital transformation efforts? Why is the success rate for digital transformation efforts much worse?
What are two important implications of digital business and digital business transformation for accountants?
What are five things accountants can do to maximize their organizations’ chances of succeeding at digital transformation?
How do digital technology advancements indirectly disrupt accounting work?
What are the different ways digital technology advancements directly disrupt accounting work?
What are the different ways digital technology advancements disrupt the accounting value proposition?
What are the different ways digital technology advancements disrupt the management accounting function?
What are the different ways digital technology advancements disrupt the financial accounting function?
What are the different ways digital technology advancements disrupt the tax function?
What are the different ways digital technology advancements disrupt the audit function?
What are the different ways digital technology advancements disrupt the AIS function?
What are the different ways digital technology advancements disrupt the business partnering or advisory function of accounting?
How can digital technology transform financial reporting from static information provision to active engagement?
What is a future ft accountant according to the International Federation of Accountants (IFAC)?
Identify four changed accounting roles and activities as a result of digital technology advancements.
Explain what outcomes each of IFAC’s seven future ft accounting roles focus on delivering (i.e. the Co-Pilot, the Navigator, the Brand Protector, the Storyteller, the Trusted Professional, the
How do digital technology advancements disrupt data availability? How does this disruption of data availability create competitive threats and loss of relevance risks for the accounting profession?
Identify three or more approaches accountants and accounting leaders have taken to adapt to digital disruption.
Do you believe accountants and the accounting profession have been successful at adapting to digital disruption, undertaking digital business transformation, and operating in digital business
Is there or can there be an end to digital technology advancements?
Is there or can there be an end to digital business transformation?
How do digital technology advancements disrupt the work accountants do?
Why isn’t a good IT / IS department sufficient, i.e. why do accountants have to develop digital technology, digital transformation, and digital business competencies on top of everything else they
How do digital technology / digital transformation / digital business competencies enhance the performance of all other accounting roles and activities?
Could an accountant work at a more mature digital business like Google or Amazon without digital technology / digital transformation / digital business competencies?
Could an accountant lead the fnance function at a more mature digital business like Google or Amazon without digital technology / digital transformation / digital business competencies?
Which IFAC future-ft accounting roles and ACCA future career zones best ft with your current accounting work aspirations or intentions?
Which three IFAC future-ft accounting roles require the greatest breadth and depth of digital technology competencies?
Which two IFAC future-ft accounting roles require the strongest strategic digital technology competencies?
Which two IFAC future-ft accounting roles require the strongest technical digital technology competencies?
Which IFAC future-ft accounting role requires the strongest accelerated change and transformation and accelerated innovation competencies?
What is the relationship between new or enhanced accounting roles and new or enhanced competencies required of accountants?
Why is the technology learning competency so important to development of technical and strategic digital technology competencies?
Could an accountant lead cross-functional teams at a more mature digital business like Google or Amazon without strong digital technology / digital transformation / digital business competencies?
Could an accountant review a business case and provide recommendations regarding the introduction of virtual assistants, customer service robots, and cobots without having knowledge / skills /
How is digital business strategy different from traditional strategy?
What is the relationship between accounting roles and managerial roles?
Which accounting role in digital business strategy is the most critical to building and maintaining that capability? Why?
Which digital business strategy-related accounting competency is likely to have the greatest positive impact on an accountant’s career?
How is digital innovation different from traditional innovation?
Which accounting role in digital innovation is the most critical to building and maintaining that capability? Why?
How is digital learning different from traditional learning?
Which accounting role in digital learning is the most critical to building and maintaining that capability? Why?
Which digital learning competency of accountants is likely to have the greatest positive impact on an accountant’s career?
Which of the capabilities discussed in this chapter is the most important to succeeding at digital transformation and digital business?
How is digital customer engagement diferent from traditional customer engagement?
Which accounting role in digital customer engagement is the most critical to building and maintaining that capability? Why?
Which accounting related digital customer engagement competency is likely to have the greatest positive impact on an accountant’s career?
How is digital stakeholder engagement diferent from traditional stakeholder engagement?
Which accounting role in digital stakeholder engagement is the most critical to building and maintaining that capability? Why?
How is digital customer experience diferent from traditional customer experience?
Which accounting role in digital customer experience is the most critical to building and maintaining that capability? Why?
Which accounting related digital customer experience competency is likely to have the greatest positive impact on an accountant’s career?
Which of the capabilities discussed in this chapter is the most important to succeeding at digital transformation and digital business?
What is the difference between enterprise architecture, IT architecture, and technology architecture?
What role does enterprise architecture play in digital business capability?
Which accounting role in enterprise architecture management is the most critical to building and maintaining that capability? Why?
Which accounting enterprise architecture management competency is likely to have the greatest positive impact on an accountant’s career?
What is the difference between technology sourcing and technology procurement?
Which accounting role in technology sourcing is the most critical to building and maintaining that capability? Why?
What is the difference between data management and data analytics?
Which is more important, data management or data analytics? Why?
Which data management and data analytics related accounting competency is likely to have the greatest positive impact on an accountant’s career?
Which of the capabilities discussed in this chapter is the most important to succeeding at digital transformation and digital business?
What is the difference between cybersecurity, IT security, and ICT security?
What is the difference between cybersecurity management and cybersecurity?
What is the difference between privacy and information privacy?
What is the relationship between information privacy and digital ethics?
What is the relationship between cybersecurity, information privacy, and digital ethics?

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