What are the important tools and technologies for safeguarding information resources?

Authentication The ability to know that a person is who he or she claims to be. Stablished
through passwords

Passwords Known only to authorize users. uses specific word to long on to a computer
system and for accessing specific systems and files

Token A physical device, similar to an identification card that is designed to prove

the identity of a single user.

Smart Card A device about the size of a credit card that contains a chip formatted with
access permission and other data.

Biometric Uses systems that read and interpret individual human traits, such as
authentication fingerprints, irises, and voices to grant or deny access

Firewalls Prevent unauthorized users from accessing private networks. A combination

of hardware and software that controls the flow of incoming and outgoing
network traffic.

Antivirus Prevents, detects, and removes malware, including computer viruses,

software computer worms, Trojan horses, spyware, and adware.

C. Planning. Design & Implementations of Information ¥ems [30 0/01

IS planning: short-and long-range technology planning. [CMA S(am Jan-2023]

Q.What is IS Planning? [CMA Scam Jan-2022, June-2021]

Information $ems planning (ISP) isa process of defining objectives for organizational computing and
identifying suitable potential information technology (IT) applicable to the company.

Long Range Information ¥em Planning

This is the important stage of planning done primarily to understand the user needs and objectives.
This sort of plan does not go into project specific details but rather focuses on the expectations of
users from the system. Typically, this kind of planning is done with a time horizon of five to ten
years in mind. Broad characteristics of information systems based on the needs of the users are dealt
with in this plan along with the technology trends in the information technology space and long-term
objectives of the organization.

The short-range information planning

The time horizon for such a plan ranges from a few months to a year. Operational details and short-
term goals and objectives are detailed out in this document. Normally the personnel of the
information systems department are involved in the preparation of such a plan. It includes
maintenance plan for existing systems, development plans for top priority systems, technical support
required for the development, operations plan, training plan, staffing plan and financial plan
containing practices and procedures for relevant issues, all in the short term of about a year.
Q. Define the Bottom-up and Top-down IS Planning? [CMA Sam June, 2021]
Top-down: In top-down planning, the first global (framework) objectives are defined and ways of
achieving them are determined. They are gradually moved to the lower levels of the organizational
hierarchy to be developed and specified. This is a divergent approach.
Bottom-Up: With the bottom-up planning method, relatively narrow goals are initially set at the
lower levels of the organizational hierarchy. They are then gradually integrated into the framework
of the global goals and strategy at higher levels. It is therefore a convergent approach.

Q. What are the prerequisites for effective IS Planning? [CMA Sam June-2019,2021 ,
September-2022]
There are some of the points crucial for the effective implementation of plans such as:
1) Well-Defined Objectives
2) Flexible Planning
3) Management Information *tern
4) Cautious Prefacing
5) Topmost-level Initiative
6) Unaffected to Changes
7) Incorporation of Short and Long-Term Rans 8) Proper Assessment of Resources

Data and information management issues

Data management issues

Data management challenges can affect a host of concerns. Poor risk management decisions, data
loss, data breaches, illegal access, data silos, noncompliance with legislation, an unregulated
environment, limited number of resources, and so on are examples of these.
Data Management Challenges: In order to accomplish so, company owners are frequently confronted
with a slew of challenges while working with data, some of which are described below:
 1) Sheer Volume of Data: Every day, it is estimated that 2.5 quintillion bytes of data are
created, and guess what? The majority of this data is generated by various types of
enterprises. As a result, the organization now faces new challenges in terms of obtaining,
maintaining, and generating value from data.
2) Multiple Data Storages: This is one of the most significant challenges that businesses
confront. Large organizations may wind up with tens of business solutions, each with its
own data repository, such as databases, CRM, RP, and so on.
3) Data Quality: Data quality is one of the most data management problems confronting
many companies today. Most businesses utilize a database to update information,
however maintaining data quality becomes difficult while processing or recording
information.
4) Lack of Processes and ¥ems: When data is gathered from many sources,
inconsistency in the data is unavoidable. Inadequate data management processes and
systems contribute to inaccurate data. As a result of the insufficient amount of data, the
data is of poor quality and does not fulfill the criteria.
5) Data Integration: This is one of the most common data management problems
and pain points.
6) Lack of Skilled Resources: There is a severe scarcity of experienced data
management specialists available for immediate recruitment.
7) Data Security: It is a significant challenge that causes concern among organizations.
When compared to other data-related concerns, it is one of the most difficult hurdles for
them.
8) Data Automation: Collecting, collecting, and categorizing this data is a massive effort
that cannot be completed manually. This is where data automation comes into play.
1) Data Analysis: Even if the data is of high quality, it has little relevance in its raw form. The
advent of technology is assisting in the analysis of large volumes of data, but many obstacles remain,
such as operating the tool without mistakes, extracting data methodically, and so on.

Information management issues

Information management is a critical component of every organization's success. Businesses will be
unable to get insights, respond to changes, or make educated business decisions unless they have the
capacity to correctly manage their information.
Information Management Challenges: Achieving an effective information management
implementation is difficult and does not happen quickly, which is why a large majority of
implementations fail. Information management challenges are-
1) Automating Processes: The role of information management is to deliver the correct
information to the right audience at the right time and place in order for them to respond
fast and make educated business decisions.

2) Reducing Information Silos: If you look at any company's business applications

portfolio, you will see that there are at least 5 separate systems where information is
saved and managed. ETIployees find it difficult to discover information and manage their
lifecycle when there are various information silos
 3) Poor Quality of Information: Organizations should not manage any of the information
they produce or collect. A quality control check should be performed to determine what
should be retained or used as part of the information lifecycle.

4) Legacy ¥ems & Replacement: An outdated organizational information system can

hold it back. Using an old system will surely have a big impact on productivity and how
to do the job better and faster.

5) Regulatory Compliance: Most businesses operate in a regulated industry, and

noncompliance with such rules and regulations can cost them money in the form of fines
and penalties.

IS Economics
Information economics is the branch of microeconomics that studies how information and
information systems affect an economy and economic decisions.

&onomics and Information systems are already integrated! Information systems are just the
backbone of any economic system. Governments collect huge amounts of data/ information in order
to better form the economic policies and improve the delivery of services. We key data available,
governments can target the weak areas of economy and address the challenges.

IS HR Planning
A Human Resource Information *tern, frequently abbreviated as HR'S, is a software that is capable
of gathering, storing and managing data about the employees in an organization. In general, its
features allow people to have a detailed and precise management of the Human Resources area.
In other words, these systems gather and monitor all the information of workers. This proves to be
key because having a good management of that information can deeply affect the correct operation
of a business.
It is also important to know that this system can receive many names. For example, some refer to
them as Human Resource Management ¥ems. Some others even call them Human Capital
Management *tems. Despite all those little variations, all these usually refer to the same concept.

Features of Human Resource Information ¥ems

1. Record keeping
2. Data management
3. Human Resources planning
4. process management
5. Payroll management

Benefits of Human Resource Information

The most visible advantage Human Resource Information $tems offer is an increase in productivity.
This software allows people to perform most of the tasks of the Human Resources area in less time.
Also, is perfect to carry out the regular processes with more transparency.

Developing an IS plan
An information technology (IT) strategic plan is a document that details the comprehensive
technology-enabled business management processes an organization uses to guide operations. It
serves as a guide to IT-related decision making, with IT tasks prioritized and implemented using the
plan as a framework.

Q. How to develop an IS Strategic Plan? [CMA S(am May, 2022]

Strategic Development: Developing business strategies that support a company's business vision, for
example, using information technology to create innovative e-business systems that focus on
customer and business value.
Gather inputs and assess your current strategy
Develop your vision, mission, values
Decide on your strategic objectives and tactics on how to fulfill on your vision Create
measurements for your objectives
Roll out the strategy with your team and generate buy-in and alignment.

Mote Q»stions Feedbac4t

FIGURE I I .8 The business/ITplanningprocessernphasizes business strategies and
models, and an IT architecture for business applications-

Key Insights
The information technology architecture that is created by the businesY IT planning process is a
conceptual design, or blueprint, that includes the following major components:

• Technology Platform: The Internet, intranets, extranets, and other networks, computer
systems, system software, and integrated enterprise application software provide a computing
and communications infrastructure, or platform that supports the strategic use of information
technology for e-business, e-commerce, and other business/ IT applications.
• Data Resources: Many types of operational and specialized databases, including data
warehouses and Internet/intranet databases store and provide data and information for business
processes and decision support.
• Applications Business applications of information technology are designed as
an integrated architecture of enterprise systems that support strategic business initiatives, as well
as cross-functional business processes.
• IT Organization: The organizational structure of the IS function within a company and the
distribution of IS specialists are designed to meet the changing strategies of a business.

Q.What are the long term benefits of implementing Strategic Information

¥erns Planning (SSP)? [CMA Sem June-2020]
a) Identification of the Organization Current Position.
b) Stablishment of New Computer *tem Can Improve Srategic Position.
c) Improve Internal Coordination In An Organization.
d) Elsure The Current And Future Developments In The Organization.

Q. Difference between Application Software and ¥em Software. [CMA Sem Dec-2019,
June-2020]
*tem software is meant to manage the system resources. It serves as the platform to run application
software. Application software helps perform a specific set of functions for which they have been
designed.

System Software Application

• System software are mainly
Software

• Application software are designed to accomplish tasks for specific

purposes.
. Programming of system software is Programming of application
complex. software is comparatively easy.
 • A computer cannot run • A computer can easily run
without system software. without application software.

• System software software.do not depend on • Application system

without software system software software.and cannot depend runon
application
 • Overview of ¥ems Development
Q. What is development?
*tems development is the process of defining, designing, and implementing a new software
application or program. It could include the internal development of customized systems, the
creation of database systems, or the acquisition of third party developed software.

Q. What is development life cycle? [CMA Exam April-2019, M ay-2022, Dec-18, 20]
A system development life cycle or SDI-C is essentially a project management model. It defines
different stages that are necessary to bring a project from its initial idea or conception all the way to
deployment and later maintenance.

Phases of SDLC

Q. Scplain Seven Phases of the ¥em-Development Life Cycle.ll What are the core activities
in the development process?

1. ¥ems Analysis: At this point, the end-user requirements have been clearly formulated.
Feasibility studies may be carried out to analyze the economic and technical impacts of the project.

2. ¥ems Planning: It identifies whether or not there is the need for a new system to achieve a
business's strategic objectives. This is a preliminary plan for a company's business initiative to
acquire the resources to build on an infrastructure to modify or improve a service.
3. Design: The third phase describes, in detail, the necessary specifications, features and
operations that will satisfy the functional requirements of the proposed system which will be in
place.
 4. ¥ems Development: The fourth phase is when the real work begins—in particular, when a
programmer, network engineer and/or database developer are brought on to do the major work
on the project.

5. Integration and The fifth phase involves systems integration and system—normally carried
out by a Quality Assurance (QA) professional—to determine if the proposed design meets the
initial set of business goals.

6. Deployment: The logic of the system is completed and ready to be deployed with any
accompanying hardware.

7. Operations and M aintenance: The seventh and final phase involves maintenance and regular
required updates. This step is when end users can fine-tune the system, if they wish, to boost
performance, add new capabilities or meet additional user requirements.

Q. S(plain the Importance of the SDLC?

If a business determines a change is needed during any phase of the SDLC, the company might have
to proceed through all the above life cycle phases again. The life cycle approach of any project is a
time-consuming process. E../en though some steps are more difficult than others, none are to be
overlooked. An oversight could prevent the entire system from functioning as planned.

SDLC M odels
Software Development life (SDLC) is a spiritual model used in project management that defines the
stages include in an information system development project, from an initial feasibility study to the
maintenance of the completed application.

There are different software development life cycle models specify and design, which are followed
during the software development phase. These models are also called "Software Development
Process Models.
Q. Scplain the Phases of the SDI-C M odels.

1) Waterfall Models: The waterfall isa universally accepted SDI-C model. In this
method, the whole process of software development is divided into various phases.
2) RAD Model: RAD or Application Development process is an adoption of the
waterfall model; it targets developing software in a short period.
3) Spiral Model: The spiral model is a risk-driven
SDLC (Models)
process model. This SDI-C model helps the group to
adopt elements of one or more process models like a
waterfall, incremental, waterfall, etc.
4) V-Model: In this type of SDI-C model testing and
the development, the step is planned in parallel. So,
there are verification phases on the side and the
validation phase on the other side.
 5) Incremental Model: The incremental model is not a separate model. It is necessarily a
series of waterfall cycles.
6) Agile Model: Agile methodology is a practice which promotes continues interaction
of development and testing during the SDI-C process of any project.
7) Iterative M odel: It isa particular implementation of a software development life cycle
that focuses on an initial, simplified implementation.
8) Big bang Model: Big bang model is focusing on all types of resources in software
development and coding, with no or very little planning.

Factors ¥ems Development Success, Quality & Standards

Factors ¥em Development Success:
systems development means delivering a system that meets user and organizational needs—
on time and within budget. There is no formula for achieving this, but the following factors are
known to have impact on success:

1) Involvement—getting users and other stakeholders involved in systems development

is critical for most systems development projects. Having the support of top-level
managers is also important. The involvement of users throughout the development will
mean they are less likely to the software when it is delivered.
2) Degree of Change—a major factor that affects the quality of systems development is
the degree of change associated with the project. The scope can vary from implementing
minor enhancements to an existing system, up to major reengineering.
3) Managing Change—the ability to manage change is critical to the success of systems
development. New $erns inevitably cause change.
4) Use of Project Management Tools
5) Use of CASE tools
6) Object Oriented Systems Development
7) Quality and Standard-- Another key success factor is the quality of project planning.
The bigger the project, the more likely that poor planning will lead to significant
problems. Many companies find that large systems projects fall behind schedule, go over
budget and do not meet expectations. Certain factors contribute to the failure of systems
development projects. These factors and counter measures to eliminate or alleviate the
problem are summarized below:
Countermeasure
Establish a clear connection between the project and
organizational goals,
Poor problem definition and analysis Fotlow a standard systems development approachi
Poor communication Communicate. communicate. communicate.
Narrœ'%' the project focus to address only the most impartant
Project is too ambitious business opportunities.

Lack Of top management support Identify the senior manager who has most ta gain from the Of the
project, and recruit this ihdividuel Champjon the project,

Identify and recruit key stakeholders to be active participants in the

Lack of management and user involvement project.
 Inadequate or improper system design Follow a Standard systems development approach,

Lack of standards Implement a standards system, such as ISO 9001.

Plan sufficient time fat thiS activity,
Poor testing and implementation
Develop a rigorous user-training program and budget suffre.ent time
Users are unable to use the system effectively in the schedule to execute it.

Include an estimate Of people effort and costs for maintenar•ce in

Of concern for maintenance the original project justification.

Q. What are new approaches for development in the digital firm era?
Companies are turning to rapid application design, joint application design (JAD), agile
development, and reusable software components to accelerate the systems development process.
application development (RAD) uses object-oriented software, visual programming,
prototyping, and fourth-generation tools for very rapid creation of systems. Agile development
breaks a large project into a series of small subprojects that are completed in short periods using
iteration and continuous feedback.
Use of Management. CASE OOSD

Project M anagement Tools

Project schedule: Scheduling in project management is the listing of activities, deliverables, and
milestones within a project. A schedule also usually includes a planned start and finish date,
duration, and resources assigned to each activity.
Project A milestone is a specific point within a project's life cycle used to measure the
progress toward the ultimate goal. Milestones in project management are used as signal posts for a
project's start or end date, external reviews or input, budget checks, submission of a major
deliverable, etc.
Project deadline: Deadline management isa process where project managers organize, prioritize,
and plan their workload within a limited timeframe. Ensuring quality in a product or service for
clients means juggling competing priorities, monitoring the consistency of project activities, and
efficiently managing your available resources.
Critical path: A critical analysis is a method of project management. It creates the shortest
timeline for your project, looking at the tasks needed to complete the deliverables, along with
the estimated time needed for each step, dependency of the task, and the final milestones. It
is a methodology planned to handle your project in an intelligent way.

Q. What are the of management, and why it is so essential in developing

information $ems?[CMA Sem September-2022]
Good project management is essential for ensuring that systems are delivered on time and on budget
and provide genuine business benefits. Project management activities include planning the work,
assessing the risk, estimating and acquiring resources required to accomplish the work, organizing
the work, directing execution, and analyzing the results. Project management must deal with five
major variables: scope, time, cost, quality, and risk.
 Computer-Aided Software Elgineering (CAS9 Tools
Automate many of the tasks required in a systems development effort and enforce adherence to the
SDLC, thus instilling a high degree of rigor and standardization to the entire systems development
process-

Upper-CASE tools - CASE packages that focus on activities associated with the early stages of
systems development.
Lower-CAE tools- focus on the later stages of systems development and are capable of
automatically generating structured program code.
Integrated-CASE tools- provide links between upper- and lower-CASE packages.
Systems Development (OOSD)
Object-oriented systems development typically involves:
Identifying potential problems and opportunities within the organization that would
be appropriate for the 00 approach
Defining the kind of system users require
Designing the system
Programming or modifying modules
E../aluation by users
Periodic review and modification

$y<ems [CMA Sem April-2019]

*tern Investigation is the process of finding out what the system is being built to do and if the system
is feasible. This will help gain an understanding of the technical resources of the organization and
the applicability to the needs of the system.

Systems Investigation
The Investigation
Identifies potential
Team
problenms & opportunities
Of & considers thenl in light personnel stakeholders

the
connpany's goals
SI report results of systerns
• Undertakes feasibility analysis
investigation & the
process Of feasibility • Establishes system development
goals
 • Selects system development
methodology
• Prepares system investigation report
analysis &
a course Of action
Q. Define analysis & its purpose, process?[CMA Exam April-2019, May-2023]
*tems analysis is the process by which an individual (s) studies a system such that an information
system can be analyzed, modeled, and a logical alternative can be chosen. *terns analysis projects
are initiated for three reasons: problems, opportunities, and directives.

Purpose: *tem analysis is conducted for the purpose of studying a system or its parts in order to
identify its objectives. It is a problem solving technique that improves the system and ensures that all
the components of the system work efficiently to accomplish their purpose.

Process: *tem analysis refers to the process of gathering data, interpreting information, identifying
issues and using the results to recommend or develop possible system improvements.
Q. What the
are different of $em
System investigation includes the following two stages:
1. Problem definition: The first responsibility of a system analyst is to prepare a written
statement of the objectives of the problem. Based on interviews with the user, the analyst
writes a brief description of his/her understanding of the problem and reviews it with both the
groups. People respond to written statements. Following are some possible definitions of
problems:

The existing system has a poor response time

It is unable to handle the workload.
The problem of cost that is the economic system is not feasible.
The problem of accuracy and reliability
The required information is not produced by the existing system
The problem of security.

2. Feasibility [CMA Sam April-2019]

The actual meaning of feasibility is viability. This study is undertaken to know the likelihood of
the system being useful to the organization. The aim of feasibility study is to assess alternative
systems and to propose the most feasible and desirable system for development. The feasibility
of a proposed $em can be assessed in terms of four major categories as given below:
Organizational feasibility v/
&onomic feasibility Technical
feasibility
Operational feasibility

Analyss
It is a process of collecting and interpreting facts, identifying the problems, and decomposition of
a system into its components.
*tern analysis is conducted for the purpose of studying a system or its parts in order to identify
its objectives. It is a problem solving technique that improves the system and ensures that all the
components of the system work efficiently to accomplish their purpose.

Design
It is a process of planning a new business system or replacing an existing system by defining its
components or modules to satisfy the specific requirements. Before planning, you need to
understand the old system thoroughly and determine how computers can best be used in order to
operate efficiently.
are principal methodologies for modeling and designing *erns?
Q. What the
The two principal methodologies for modelling and designing information systems are structured
methodologies and object-oriented development. Sructured methodologies focus on modelling
processes and data separately. The data flow diagram is the principal tool for structured analysis,
and the structure chart is the principal tool for representing structured software design.
Objectoriented development models a system as a collection of objects that combine processes
and data. Object-oriented modelling is based on the concepts of class and inheritance.

Implementation

The term Implementation may be defined as "Implementation is the process of converting the
manual or old computerized system with the newly developed system & making it operational,
without disturbing the functioning of the organization."

Types of ¥em Implementation

Fresh Implementation: Implementation of a totally new computerized system by replacing the
manual system.
Replacement Implementation: Implementation of a new computerized system by replacing an old
computerized system
M odified Implementation: Implementation of the modified computerized system by replacing an
old computerized system
Conversion/ Changeover The organizational process of changing over from
the current information system to a new one.
Approaches to Methods: Basically, these are four methods of
conversion.
Direct cutover Installation
Parallel Installation v/ Phased Installation v/ Sngle-Location
Installation/ Phased-in method of conversion

System Definition System Implementation System Integration

is role of Eld Users in ¥em Implementation? [CMA S(am Jan-2023]
Eld users are responsible for protecting the information resources to which they have access.
Their responsibilities cover both computerized and non-computerized information and
information technology devices (paper, reports, books, film, recordings, computers, removable
storage media, printers, phones, etc.)
Q. What the
Operation and Maintenance

Operations & maintenance involves planning for, and executing, activities, such as operating the
system, monitoring systern performance, making repairs, hiring and training operators, testing
the system after any changes are made, and tuning the system. All systems require regular
maintenance.
completion of the Operations and Maintenance Phase should comprise:

Management of changes to the system to support end users

Monitoring of system performance
Performance of required security activities such as backups, contingency
planning, and audits
Continuation of end user support through training and documentation

The purpose of the Operations and Maintenance Phase is to ensure the information system is
fully functional and performs optimally until the system reaches its end of life.
Review
A systemic enquiry (also known as a systems review) involves performing a brief screen for
symptoms in other body systems which may or may not be relevant to the primary presenting
complaint. A systemic enquiry may also identify symptoms that the patient has forgotten to
mention in the presenting complaint.

Q. How the $em performance is [CMA Sem Jan-2023]

A system's performance can be measured in various ways depending on the type of system and
its intended purpose. In general, performance can be evaluated based on metrics such as speed,
accuracy, efficiency, scalability, reliability, availability, and security. For example, a computer
system's performance can be measured by its processing speed, memory capacity, and
input/output capabilities. A website's performance can be measured by its page load time, user
engagement, and uptime. In machine learning, performance can be measured by metrics such as
precision, recall, Fl-score, and accuracy.
 Application of M IS in Business
Management Information *terns (MIS) are information systems, typically computer-based , that are
used within an organization.

Q. What are the applications of MIS (Management Information in Business?

Scam September-2022]

1. Enterprise Resource Planning Usually, large companies often use reliable RP management
information systems. However, this system can also be used on a small scale.

2. S-lpply Chain Management (SCM): This system is beneficial for management because it can
help to integrate material supply management from suppliers, manufacturers, and retailers to final
consumers.

3. Processing ¥em (TPS): TPS is a management information valuable system for

processing large amounts of data or multiple and routine transactions.

4. Office Automation System (OAS): This application helps facilitate communication between
departments within a company by integrating computer servers for each company user.

5. Knowledge Work ¥em (MS): This system integrates new knowledge into an entity or
organization/unit.

6. Informatics Management ¥em ('MS): IMS helps support various tasks within the organization
and analyses decision-making.

7. Deci§on Support ¥em (DSS): This system helps executives make decisions by observing the
business environment.

8. Scpert ¥em (S) and Artificial Intelligent (Al): Both systems use artificial intelligence, which
helps analyze a problem using expert energy knowledge.
Q. What are the components of a decision support Exam June, 2021]
A decision support systems consists of three main components, namely
database, software system and user interface.
1. DSS Database: It contains data from various sources, including
internal data from the organization, the data generated by different
applications, and the external data mined form the Internet, etc.
2. DSS Software It consists of various mathematical and analytical models that are used to
analyze the complex data, thereby producing the required information.
User Interface 3. DSS User Interface: It is an interactive graphical interface which makes the interaction
easier between the DSS and its users.

Q. How you recommend to improve MIS? [CMA Sam January, 2022]

3 ways to improve the quality of management information
1) Improving data quality.
2) The right balance of IQ's.
3) Investing in talent.

Q. How will MIS ease your corporate life? [CMA S(am M ay, 2022]
There are some key advantages of effective use of management information systems:

1) Helps to achieve a higher level of efficiency

2) Improves the quality of decisions
3) Promotes better communications between departments in a workplace
4) Provides a platform to explore different scenarios for various alternatives and
economic environments
5) Improves employee productivity
6) Strengthens a company s competitive advantage
7) Reveals more data about customers
Q. What are the rolesof MIS?
Here are some of the important roles of the MIS

i. The MIS satisfies the diverse needs through variety of systems such as query system, analysis
system, modeling system and decision support system.

ii. The MIS helps in strategic planning, management control, operational control and transaction
processing.

iii. The MIS helps the junior management personnel by providing the operational data for
planning, scheduling and control.

iv. The MIS helps the middle management in short term planning, target setting and controlling
the business functions.

v. The MIS helps the top level management in goal setting, strategic planning and evolving the
business plans and their implementation.
vi. The MIS plays the role of information generation, communication, problem identification and
helps in the process of decision-making.

Q. What are the the impact of MIS?

MIS plays a very important role in the organization; it creates an impact on the organization's
functions, performance and productivity.

The impact of MIS on the functions is in its management with a good MIS supports the
management of marketing, finance, production and personnel becomes more efficient. The
tracking and monitoring of the functional targets becomes easy. The functional managers are
informed about the progress, achievements and shortfalls in the activity and the targets.

Q. How does the Management Information SFem (MIS) help better business
[CMA Sem ulne-2021, September-2022]
MIS reports can help identify an enterprise's strengths and weaknesses, which can lead to
strategically reproducing strengths and successes, as well as exercising weaknesses and failures.
M IS can help improve operational efficiency, product development, and business-critical
decisionmaking.

Management information systems provide the owner and other decision-makers at a business
with the data needed to make informed decisions for the company. A MIS provides background,
current data and trend analysis so you have ready information on all areas of the business.
Planning for an overall growth for the company. Thorough market research to understand the
market dynamics involving demand-supply. Various policies that will dominate the course and
movement of business. S(pansion and diversification to conquer new markets.

Q. Brief Scpert and when to use S«pert systems in business. [CM A June-2019, April,
Dec-2020]
An S(pert Sister-n is a computer program (software) that uses artificial intelligence (Al) to
reproduce the judgment of a human with expert knowledge in a particular field. A good S(pert
*tem solves a problem accurately, quickly and is easy to use. It doesn't necessarily require
technical wizardry. Al jargon can mask a bad S(pert $tem.
Typically, expert systems function best with specific activities or problems and a discrete
database of digitized facts, rules, cases, and models. S(pert systems are used widely in
commercial and industrial settings, including medicine, finance, manufacturing, and sales.
S(pert *tems are often used to help non-experts when a human expert is too expensive, the results
too slow if use a human(s), error rate too high with a human(s), unintentional human bias, or it is
difficult for a person to reach the location.

Q.What is Virtual Reality? State the effective to use VR and the impact of VR
as well. Scam Dec-2018, 2019, 2020]
Virtual Reality, or VR is the use of computer technology to create a simulated environment which
can be explored in 360 degrees.
Virtual reality is a simulated experience that can be similar to or completely different from the real
world. Applications of virtual reality include entertainment, education and business.

Some of the top indu<ries in VR

1) Military and law enforcement.
2)
3) Human resources and recruiting.
4) Corporate learning and training.
5) Eltertainment.
Impact of VR
1) Nausea occur when using VR It is quite common for users of VR technology to
experience some form of nausea.
2) Get addicted to using virtual reality: The immersive nature of virtual reality can be
addicting, unfortunately. This is common for VR users who spend a lot of time gaming,
especially violent games.
3) Using VR headsets make eyes hurt: When we stare at a or computer screen for a long
time, the muscles responsible for the movement of the eyeballs get strained.
Q. Management information *ems (MIS) internal data into periodic reports [CMA
S(am Dec-2020]

The main purpose of the MIS is to give managers feedback about their own performance; top
management can monitor the company as a whole. Information displayed by the MIS typically
shows "actual" data over against "planned" results and results from a year before; thus it
measures progress against goals. The MIS receives data from company units and functions. Some
of the data are collected automatically from computer-linked check-out counters; others are
keyed in at periodic intervals.
Q. Transaction proces§ng $ems (TPS) facilitate the immediate processing of data. [CMA
Dec-2020]
Direct data entry is commonly employed through source data automation. Increasingly,
transaction processing systems rely on electronic data interchange (ÐI). By replacing paper
documents with formatted transaction data sent over telecommunications networks, these
systems provide for computer-to-computer communication without repeated data entry. Although
used internally by some firms, ÐI primarily serves the needs of intercompany communication.

Q. What isa DSS?How does a DSS differ from a MIS? [CMA Exam April-2020]
A decision support system is an information system that supports business or organizational
decision-making activities.
MISis used to in control process. DSS is used in planning, staffing and decision making. MIS is
used by middle level, low level users and senior executives in some cases. DSS is used by
analysts, professionals and managers.
Q. What are the objectiveYfeaturesof Group DSS? How do they differ from an
Individual DSS? [CMA Scam April-2020]
A group decision support system (GDS) is an interactive computer-based system that facilitates a
number of decision-makers (working together in a group) in finding solutions to problems that
are unstructured in nature.
Features of Group Decision Sy<em (GDS):
of Use
Better Decision Making
Enphasis on Semi-strudured and Unstructured Decisions
$ecific and General &lpport
S-lpports all Phases of the Decision Making
&lpports Positive Group Behavior
GDS focuses on group decisions while DSS focuses on individual decisions. DSS relies to a
knowledge base to some degree while a GDS does not. GDS requires a working connection
between users while DSS does not. GDS is applicable to every situation while DSS is not.
Q. Define Decision Support ¥em?What are the components of Decision Support ¥em? [CMA
S(am April-2019]
A decision support system (DSS) is an information system that aids a business in decision-making
activities that require judgment, determination, and a sequence of actions.

Components of a Decision Support The three main components of a DSS framework

are:

1. M Odel M anagement The model management system stores models that managers can
use in their decision-making. The models are used in decision-making regarding the financial
health of the organization and forecasting demand for a good or service.
2. User Interface: The user interface includes tools that help the end-user of a DSS to
navigate through the system.
3. Knowledge Base: The knowledge base includes information from internal sources
(information collected in a transaction process system) and external sources (newspapers and
online databases).

Advantages of a Decision Support ¥em:

 A decision support system increases the speed and efficiency of decision-making
activities. It is possible, as a DSS can collect and analyze real-time data.
It promotes training within the organization, as specific skills must be developed to
implement and run a DSS within an organization.
It improves interpersonal communication within the organization.

Disadvantages of a Decision Support ¥em:

The cost to develop and implement a DSS is a huge capital investment, which makes
it less accessible to smaller organizations.
A company can develop a dependence on a DSS as it is integrated into daily
decisionmaking processes to improve efficiency and speed.
A DSS may lead to information overload because an information system tends to
consider all aspects of a problem.
D. Real-world Business Information System 1200/01

• and definition of Enterprise Resource Planning (ERP) [CMA June,Dec2018, 2019,

Sept-2022]
The term was used in the 1990s by the Gartner Group, but enterprise resource planning software
and systems have been used in the manufacturing industry for over 100 years and continue to
evolve as needs change and grow.

resource planning refers to a type of software that organizations use to manage day-to-day
business activities such as accounting, procurement, project management, risk management and
compliance, and supply chain operations.

The main purpose of an system is to increase organizational efficiency of an organization by

managing and improving how company resources are utilized. Improving and/or reducing the
number of resources necessary without sacrificing quality and performance are keys to
effectively improving business growth and profitability.

systems typically cover all aspects of business operations and commonly provide:

An integrated system
Common database
Real-time operation
S]pport for all applications/components
Common user interface across application/components
On-premise, cloud or SaaS deployment

Q. Scplain the Benefits of ¥ems? [CM A S(am January, Sept- 2022]

1. savings Perhaps the biggest value proposition of RP systems is they can save your
organization money in a number of ways.
2. Workflow visibility. With all workflows and information in one place, employees with access
to the system can see the status of projects and the performance of different business functions
relevant to their jobs.
3. Reporting/ analytics. Data is useful only if companies can analyze and understand it, and an
helps with that.
4. Busness insghts/ intelligence. Because can access real-time data from across the company,
these systems can uncover impactful trends and provide extensive business insights.
5. Regulatory compliance & data security. financial reporting standards and governmental and
industry-specific data security regulations change frequently, and an RP can help your company stay
safe and compliant.
6. Risk management. RP technology reduces risk in a few ways. Granular access control and
defined approval workflows can strengthen financial controls and reduce fraud.
7. Data security. providers understand that your system houses critical, sensitive data and take
necessary steps to ensure it is secure.
8. Collaboration. Enployees are most effective when they work together. solutions make it easy
to share information — like purchase orders, contracts and customer-support records — among
teams
9. Scalability. The right RPsystem will be scalable and flexible enough to meet your company's
needs today and for the foreseeable future.
10. Flexibility. While software helps businesses follow best practices, it also offers the flexibility
to support unique processes and objectives.

Q. What are the disadvantages of ¥ems?[CMA Exam January, 2022]

1. ¥em Because they were expensive to purchase, implement and maintain, early RP systems
were accessible only to large companies.
2. Need for training. Like any new tech, has a learning curve. Anyone who will use the
software — that is, ideally, most or all of your employees — requires some level of training. 3.
Data conversion When moving to a new RP, you may need to convert some data into a format
that's compatible with the new platform.
4. Complexity. An RP system is loaded with features, and that can be daunting to your
workforce.
5. Maintenance. In the past, maintenance was a large expense that deterred lower-revenue
businesses from adopting RP.
6. Doesn't solve process and policy issues. If you have error-prone or inefficient processes, an
RP won't necessarily fix them, even though it may increase accuracy.
Core M odules of an ¥em Q. Describe
the Modules?
 tvlanufacturing

tvlanagernent

Inventory tvlanagerner•t

Order
Managernent

Finance. A finance module, the foundation of just about every RP system, manages the general
ledger and all financial data. It tracks every transaction, including accounts payable (AP) and
accounts receivable (AR), and handles reconciliations and financial reporting.

Procurement. The procurement module manages purchasing, whether raw materials or finished
goods.

M anufacturing. Manufacturing can be complicated, and this module helps companies coordinate all
the steps that go into making products.

Inventory management. An inventory management module shows current inventory levels down to
the SKU level and updates those numbers in real time.

Order management. This application monitors and prioritizes customer orders from all channels as
they come in and tracks their progress through delivery.

Warehouse management. A warehouse management module directs warehouse activities like

receiving, picking, packing and shipping.

relationship management (CRM). [CMA Sam April, Dec-2019] CRv'1 is a popular

module for businesses in a wide range of industries. It tracks all communications with clients,
assists with lead management and can enhance customer service and boost sales.
Professional services automation (PSA). Services businesses often utilize a professional services
automation (PSA) module to plan and track projects, including the time and resources spent on
them.

Workforce management (WFM). A workforce management (WFM) module keeps track of

attendance and hours worked, and some can also manage payroll.

Human resources management (HRM). A human resources management (HRM) or human capital
management (HCM) module is similar to a workforce management module.
Ecommerce. An ecommerce module allows retailers and brands to manage the back- and frontends
of their online stores.

M arketing automation. This module manages marketing efforts across all digital channels — email,
web, social — and enables organizations to optimize and personalize their messaging.

04 Core

Finance & Accounts

e.g.

Purchasing
Role of & Management Accountants in implementing practical real-life manufacturing ERP
Q. What are the role of & Management Accountants (CM A's) in implementing practical
real-life[CMA Exam May-2023]
The role of CMAs in the enterprise today has become much more significant since packages tend
to lower the cost of the product or services. There are several tools that can be very helpful for
the management accountants while making decisions. CMAs play the following role:
1) Selection of Appropriate Package: There are so many software having the almost
same features available in the market to cater to requirement of the organization. But
selection is to be made for RP software which may provide the organization an ability to
measure the performance, efficiency, quality, customer and product profitability &
analysis, and can eliminate non- value added work.
2) Decision which Departments need Depending upon the
size and resources available with the Organization, a decision by a company management
is to be taken whether it needs full RP integration or needs to cover only selected areas/
processes.
3) a Committee for Implementation of A Committee is to be constituted
by the management drawing the experienced officials from the Departments/ processes
where RPsystem is to be implemented.
4) Identify Value-added and Non Value added Activities: CMA(s) should analyze
the activities segregating them in value added and non-value added services since some
of the activities add value to a product or service while some do not.
5) Identify resource and activities The next step for CMAs is to assist the
management to identify the resource costs and analyze the activities.

Q. What are the Impact of implementation on working of CM AS?

With the implementation of system in an organization, the data becomes available on real
time basis. The CMA can now spent the more time on data analysis and decision making rather
than collecting various types of information from different departments. In a non-integrated
environment, CMA remains busy in collecting various types of data. It consumes their significant
time and the same can be saved with the help of integrated system where all kind of data can be
found on a mouse click. Now the CMAs can spent their valuable time on data analysis and
decision making activities. Their focus can be changed from historic to forward looking. They
can spare their time for finding out the solution of various problems and can provide better aid to
managers for facing the cut-throat competition. They can make cross functional analysis with the
help of system as the relevant data will become available for such type of analysis. They can
use the modern accounting techniques like Activity Based Costing, Life Cycle Costing, Target
Costing, etc. for better control over the costs.
Challenges of implementing manufacturing in large Bangladeshi organizations

Q. What are the challengesof implementing manufacturing ERP in large Bangladeshi

organizations?[CMA Sern M ay-2022, January-2023]
An implementation is all about finding the right balance between people and technology.
Organizations may face people-related challenges such as resistance to change, as well as
technical obstacles. These are the common ERP implementation challenges include:
1. of Vendors: In this competitive business-centric environment, implementing
the right resources is the gateway to achieving productivity gains. When you land your feet in the
market, you'll see thousands of existing RP applications as everybody is claiming to be the
best. However, you can't go by their claims and choose that meets your business needs.

2. Tenacity and Commitment from Top M anagement: Senior managers are the key
decisionmakers for any organization while implementing Their involvement is essential for the
success of a project. So any form of ignorance and laxity may cause ineffective decisions and
delayed operations.

3. Proper & Adequate Training: Once the system is implemented, resentment from
employees is an ordinary happening and may result in downgrading productivity. So you can't let
unskilled or semiskilled staff go onboard.

4. Implementation Time: Many companies don't realize the time consumption of an RP

implementation process. An system is implemented by as you initiate, analyze, configure,
validate, deploy, and optimize the bu§ness process

5. Proper Planning & Management: Forecasting and estimation are the keys to a successful
RP implementation.

6. Incurred on Implementation: When you're implementing RP, the cost incurred is higher
than the initial costs. it all depends on the customization cost. When the customization cost is
more, the higher will be the implementation cost.

7. Enployee Retention: Despite the training provided, employees leave the organization
after the implementation of RP, as it can be a major dent in a company's growth.
8. Sufficient Testing an system doesn't mean whether it's working smoothly or not, but to be
delighted by its performance and see if it is up to the business needs.

9. Maintenance If you're an entrepreneur, Implementing RPis not the final frontier. It has
maintenance attached, which takes a toll on overall expenses and eventually pulverize your
plans.

10. in Internal Hardware: Working on a slow system can be very unproductive

frustrating. and applications require sufficient storage and high work performance.
Proiect management (PM)

Project management is the use of specific knowledge, skills, tools and techniques to
deliver something of value to people. The development of software for an improved
business process, the construction of a building, the relief effort after a natural disaster,
the expansion of sales into a new geographic market—these are all examples of projects.
Project management mainly deals with these ten areas-

Integration
Cost
 Human resources
Sakeholder management
Scope
Quality
Communications
Time
Procurement
Rsk Management

Q. Why Is Management Important?

1. Strategic Alignment: Project management is important because it ensures what is being
delivered, is right, and will deliver real value against the business opportunity.

2. LeaderS1ip: Project management is important because it brings leadership and direction to

projects.

3. Clear Focus & Project management is important because it ensures there's a

proper plan for executing on strategic goals.

4. Planning: Project management is important because it ensures proper

expectations are set around what can be delivered, by when, and for how much.

5. Quality Control: Project management is important because it ensures the quality of whatever
is being delivered, consistently hits the mark.

Q. What are the of project management, and why is it so essential in developing information
[CM A Scam M ay, 2022]
Good project management is essential for ensuring that systems are delivered on time and within
the budget and provide genuine business benefits. Project management activities include
planning the work, assessing the risk, estimating and acquiring resources required to accomplish
the work, organizing the work, directing execution, and analyzing the results. Roject
management must deal with five major variables: scope, time, cost, quality, and risk.
Following are the main Software Project M anagement Objectives:

How does the project fit into the organization?

How will the project evolve over time?
Development and Implementation of procedures ãficient communication, collaboration, and
productive guidelines Achieve project goals within the estimated time with high quality
Allocate and optimize necessary resources to meet project goals
Meet the exclusive needs and requirements of the client

M ethods for selecting and evaluating IS projects and

Q. What methods can be used for selecting and evaluating information *ems projects and
aligning them with the firm's busness goals? [CMA Sem May-2023]
Organizations need an information systems plan that describes how information technology
supports the attainment of their business goals and documents all their system applications and
information technology (IT) infrastructure components. Large corporations will have a
management structure to ensure the most important systems projects receive priority. Critical
success portfolio analysis, and scoring models can be used to identify and evaluate alternative
information systems projects.

Q.What factors should be considered for selecting and evaluating information *ems projects?
[CMA Sem May-2023]

Numerous factors must be considered when selecting a project. These factors include:

Perceived needs of the organization

S(isting systems and ongoing projeds
Resource availability
E../aluation criteria
Current business conditions
Perspectives of the decision makers
Business value of IS
Q. How can firms assess the busness value of information sFems projects?[CMA June2017,
Dec-2019]
To determine whether an information systems project is a good investment, one must calculate
its costs and benefits. Tangible benefits are quantifiable, and intangible benefits that cannot be
immediately quantified may provide quantifiable benefits in the future. Benefits that exceed
costs should be analyzed using capital budgeting methods to make sure a project represents a
good return on the firm's invested capital. Real options pricing models, which apply the same
techniques for valuing financial options to systems investments, can be useful when considering
highly uncertain IT investments.
Q. Define internet, describe how it works and explain how it provides business value.
[CMA S(am May, 2022]

The Internet is a vast network of computers that connects millions of people all over the world.
The Internet uses the client/server model of computing and the TCP/ IP network reference
model. Every computer on the Internet is assigned a unique numeric IP address. No one owns the
Internet, and it has no formal management organization. However, worldwide Internet policies
are established by organizations and government bodies, such as the Internet Architecture Board
and the World Wide Web Consortium. The Internet must also conform to the laws of the
sovereign nation-states in which it operates & the technical infrastructure that exist within the
nation-state.

The Internet enables employees to gain remote access to the company's internal systems through
its Web site. They are able to better service customers and suppliers, improve operational
efficiency, increase productivity, lower operational costs, have a broader market base, and reach
more individual customers on a global scale by establishing a Web presence. The cost of e-mail
and other Internet services tend to be far lower than equivalent voice, postal, or overnight
delivery costs, making the Internet a very inexpensive communication medium. It is also a very
fast method of communication, with messages arriving anywhere in the world in a matter of
seconds or minutes.
Risk fadors in IS projects
Q.What are the principal risk in information projects? [CMA S(am January, 2022]

The level of risk in a systems development projed is determined by (1) project size, (2) project
structure, and (3) experience with technology. Information systems (IS) projects are more likely
to fail when there is insufficient or improper user participation in the systems development
process, lack of management support, and poor management of the implementation process.
There is a very high failure rate among projects involving business process reengineering,
enterprise applications, and mergers and acquisitions because they require extensive
organizational change.

Q.What are useful for managing project risk and implementation?

Implementation refers to the entire process of organizational change surrounding the introduction
of a new information system. User support and involvement and management support and
control of the implementation process are essential, as are mechanisms for dealing with the level
of risk in each new systems project. Project risk factors can be brought under some control by a
contingency approach to project management. The risk level of each project determines the
appropriate mix of external integration tools, internal integration tools, formal planning tools,
and formal control tools to be applied.

Q.Scplain fators that increase the risk to Information Technology project failure. [CMA
June-2020]
1) Lack of Interest from Management.
2) Cost-cutting Approaches.
3) Lack of Proper Planning.
4) Selection of Technologies.
5) Failure to Manage Scope Creep.
6) Overly-optimistic Project Shedule.
7) Overstaffing of Projects.
8) Poor Communication.
E Disruptive Technology [20 0/01
• to Blockchain. [CMA Sem May, 2022]
Blockchain is the backbone Technology of Digital CryptoCurrency BitCoin. The blockchain is a
distributed database of records of all transactions or digital event that have been executed and
shared among participating parties.

Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and
tracking assets in a business network. An aset can be tangible (a house, car, cash, land) or
intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can
be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.

Q. Why blockchain is important?

Business runs on information. The faster it's received and the more accurate it is, the better.
Bockchain is ideal for delivering that information because it provides immediate, shared and
completely transparent information stored on an immutable ledger that can be accessed only by
permissioned network members. A blockchain network can track orders, payments, accounts,
production and much more. And because members share a single view of the truth, you can see
all details of a transaction end to end, giving you greater confidence, as well as new efficiencies
and opportunities.

Q. Scplain Benefits/ Advantages of Blockchain Technology. [CMA Exam May, 2022]

Time-saving: No central Authority verification needed for settlements making the process
faster and cheaper.
A Bockchain network reduces expenses in several ways. No need for thirdparty
verification. Participants can share assets directly. Intermediaries are reduced. Transaction efforts
are minimized as every participant has a copy of shared ledger.
Tighter security: No one can temper with Blockchain Data as it shared among millions of
Participant. The system is safe against cybercrimes and Fraud.
Q. Discuss Key elements of a blockchain?
ledger technology: All network participants have access to the distributed ledger
and its immutable record of transactions. With this shared ledger, transactions are recorded only
once, eliminating the duplication of effort that's typical of traditional business networks.
Immutable records: No participant can change or tamper with a transaction after it's been
recorded to the shared ledger. If a transaction record includes an error, a new transaction be
added to reverse the error, and both transactions are then visible.
Snart contracts: To speed transactions, a set of rules — called a smart contract — is stored on
the blockchain and executed automatically. A smart contract can define conditions for corporate
bond transfers, include terms for travel insurance to be paid and much more.

Q. How Blockchain Technology works?

One of the famous use of Blockchain is Bitcoin. The bitcoin is a cryptocurrency and is used to
exchange digital assets online. Bitcoin uses cryptographic proof instead of third-party trust for two
parties to execute transactions over the internet. transaction protects through digital signature.

A
broadcast to
party

Approved Transaction

Types of Blockchain Technologies Bitcoin, Rhereum, Hyperledger

There are 4 types of blockchain:
1) Public Blockchain.
2) Private Blockchain.
3) Hybrid Blockchain.
4) Consortium Blockchain.
Permissionless Permissioned

1. Public Blockchain: These blockchains are completely open to following the idea of
decentralization. They don't have any restrictions, anyone having a computer and internet can
participate in the network.

As the name is public this blockchain is open to the public, which means it is not owned by
anyone.
 Anyone having internet and a computer with good hardware can participate in this
public blockchain.
All the computer in the network hold the copy of other nodes or block present in the
network
In this public blockchain, we can also perform verification of transactions or records
S(ample: Bitcoin, Rhereum, Litecoin

Bitcoin is regarded as the first decentralized cryptocurrency using blockchain technology to

facilitate payments and digital transactions.
Ahereum is a decentralized, open-source blockchain with smart contract functionality. Rher is
the native cryptocurrency of the platform.

2. Private Blockchain: These blockchains are not as decentralized as the public blockchain only
selected nodes can participate in the process, making it more secure than the others.

These are not as open as a public blockchain.

They are open to some authorized users only.
These blockchains are operated in a closed network.
S(amplesof private blockchains are; Multichain and Hyperledger projects (Fabric, Sawtooth), Corda,
etc.
Hyperledger is a global enterprise blockchain project that offers the necessary framework,
standards, guidelines, and tools to build open-source blockchains and related applications for use
across various industries.

3. Hybrid Blockchain: It is the mixed content of the private and public blockchain, where
some part is controlled by some organization and other makes are made visible as a public
blockchain.
It is a combination of both public and private blockchain.
Permission-based and permissionless systems are used.
User access information via smart contracts
Even a primary entity owns a hybrid blockchain it cannot alter the transaction
Semple of a hybrid blockchain is Dragonchain.

4. Consortium Blockchain: It is a creative approach that solves the needs of the

organization. This blockchain validates the transaction and also initiates or receives
transactions.

Also known as Federated Blockchain.

This is an innovative method to solve the organization's needs. Some part is public
and some part is private.
 In this type, more than one organization manages the blockchain.

Scamples of consortium blockchain are; ffiergy Web Foundation, etc.

Blockchain and wave of change

The Waves blockchain is designed to enable users to create and launch custom crypto tokens.
Waves allows for the creation and trade of crypto tokens without the need for extensive smart
contract programming. tokens can be created and managed via scripts that run in user accounts
on the Waves blockchain.

Blockchain Blockchain Exchanges, Blockchain Miners Blockchain

Applications

Q.What isa blockchain types of BEco.?

A blockchain ecosystem is a group of various technological elements capable of interacting to
create a $ern that performs a specified function. This system encompasses multiple governing
like individual participation, data owners-lip, funding, exit and entrance criteria,
information shared with the system's participants
The blockchain ecosystem can provide true decentralization, immutability, transparency,
accountability and flexibility to day-to-day operations.
Types of blockchain eco*ems
Sngle party-led bint venture
ecosystem blockchain
ecosystems
Q. How will blockchain eco*ems benefit organisations?
The nature of blockchains is the perfect example of network technology. It can bring
new functionalities for the employees and customers of an organisation. It will revamp the
complete workflow and how projeds are developed, from the starting stage to the end.
For a blockchain to be viable for an organisation, it has to consider how it can improve the
ongoing operation that an existing solution can't. For example, in an organisation where ddabase
entry is limited and there is no need to share data among peers, a blockchain eco*em would not
be that beneficial. alt an organisation where data sharing among various entities, departments and
individuals occurs at a higher rate could benefit from the blockchain structure of validating data
among nodes or peers as fast as possible.
Q. What are exchanges in blockchain?
A cryptocurrency exchange is an online marketplace where users buy, sell,
and trade Crypto exchanges work similar to online
brokerages, as users can deposit fiat currency (su&l as U.S. dollars) and
use those funds to purchase cryptocurrency.

Q.What is miners in blockchain?

Bockchain "mining" isa metaphor for the computational work that nodes in the network
undertake in hopes of earning new tokens. In reality, miners are essentially getting paid for their
work as auditors. They are doing the work of verifying the legitimacy of Bitcoin transactions.

Q.Scplain Blockchain applications?

Bockchain applications go far beyond cryptocurrency and bitcoin. With its ability to create more
transparency and fairness while also saving businesses time and money, the technology is
impacting a variety of sectors in ways that range from how contracts are enforced to making
government work more efficiently.

TOP BLOCKCHAIN APPLICATIONS TO KNOW-

1) M oney transfer 2) ST)art 3) Internet of Things (IOT) 4) Healthcare
contracts 5) Logistics
6) Non-fungible tokens (NFTs)
7) Government 8) Media
• to Financial Technology (Fintech)

Q. What is fintech $em? S(plain with examples. Exam January,2022]

'finteth is a tethniæl tool to glpport financial services " financial technology otherwise known as fintech or
finTech, is the technology and innovation that aims to compete with the traditional delivery of financial
and banking services with new innovations like cryptocurrencies and crowdfunding.

Examples of
Fintech

SALE

Budgeting apps
Current Trends in Financial Technology (Fintech)

1) RegTech: Reg Tech is a platform that helps organizations to comply with complex
industry regulations.
 2) Biometric authentification: Bometric authentication is considered to be more secure
than regular passwords and PINs.
3) Artificial intelligence: Smart algorithms improve many processes of banks, credit and
insurance companies.
4) Blockchain: In the financial sector, banks are more actively implementing blockchain
than insurance and credit organisations.
5) Cloud computing: With the cloud, financial companies get scalable storage and large
computing power at competitive prices.
6) Virtual cards: Virtual cards are becoming a guarantee of safe payment for goods and
services on the Internet.
7) Voice payments: finTech companies want to expand the use of digital assistants by
introducing them in financial management.
The future of Fintech and the Banking
Over the decade, the finTech industry has experienced significant growth. The global market was valued at
around $7.3 trillion in 2020, and is projected to grow at a compound annual growth rate (CAGR) of 26.87
percent up to 2026. A variety of factors have contributed to the advancement of finTech over the decade.
Technological advancements have changed how we do nearly everything in our day-to-day lives. Some
technologies such as the IOT, artificial intelligence (Al), blockchain and cloud computing, have been major
drivers of finTech innovation.

financial technology in banking is not new. It has been used to facilitate electronic markets since the
1980's. Already, many banks are partnering with fin Tech firms to enhance their service offerings. Rs are
realising that consumers' brand loyalty is decreasing, while demand for speed, accuracy, transparency and
more technology is rising.

Banks perform payment and transfer functions for an economy. The Internet can now facilitate and even
perform these functions. The digital transformation that financial technology brings reduces this advantage,
as this information can be digitally analyzed. Even the nature of deposits is being transformed. Banks in the
future will have to accept deposits and process transactions made in digital form, either Central Bank
Digital Currencies (CBDC) or cryptocurrencies. This presents a number of issues:
(1) it changes the way financial services will be delivered,
(2) it requires a discussion on resilience, security and competition in payments,
(3) it provides a building block for better cross border money transfers and
(4) it raises the question of private and public issuance of money.

Fintech Applications
Q. S(plain the applications of Fintech?[CMA Sam January,2022]
There are various software applications of Fntech that exists:
1) Mobile Banking: The only financial securities and wellness a consumer looks for due
to which several financial institutions or bodies are continuously adopting mobile banking
capabilities at a huge-expending level along with the increasing necessity of digital banking
among consumers.
 2) Mobile Payments: Mobile payment applications and gateways are some of the most
prevalent uses of fintech and act as wallets for both normal currency and cryptocurrency.
3) Crowdfunding Platforms: Crowdfunding platforms like Kckstarter, GoFundMe, and
Patreon are the result of developments in fintech.
4) Robo-advisors: Robo-advisors, such as Betterment, are online investment-
management services, deploying algorithms to automate investment advice in terms of
lowering costs and escalating accessibilities.
5) Cryptocurrency and blockchain: Fntech includes the development and deployment of
digital currencies such as cryptocurrency (bitcoin) and is likely to have positive impacts by
further growth in cryptocurrencies availability and adoption.
6) Insurtech: Fntech companies are engaging with traditional insurance companies to
automate the processes at its entirety and enabling them to expand claim-coverages.
7) Regtech: Regtech, regulatory technology as it has known, focuses on the automation
compliance rules/processes for financial institutions, especially those firms that include Anti-
Money Laundering and Know Your Customer (KYC) guidelines which cope up against
fraud.
8) Trading: With all involved benefits, trading and investing have been upgraded with
the adoption of Fntech.

Types of Fintech Apps found in the

market today

Digital
Banking
Digital
Payments

Digital
Lending

Types of
Consumer Finance
Digital Fintech
Apps Investment
• to the Fourth
revolution (41R)

The Fourth Industrial Revolution is a way of describing the blurring of boundaries between the
physical, digital, and biological worlds. It's a fusion of advances in artificial intelligence (Al),
robotics, the Internet of Things (10T), 3D printing, genetic engineering, quantum computing, and
other technologies.
»ecific technologies of the Fourth Industrial Revolution include, but are not limited to:

1) artificial 7) smart sensors 13) customer profiling

intelligence
8) big data/ analytics
14) blockchain
2) Internet of Things
9) augmented reality
15) quantum
3) robotics computing

4) virtual reality 10) data visualization

16) cloud computing

5) mobile devices 11) cognitive

computing
6) 3D printing
12) location detection

Navigatingthe next industrialrevolution

 2 1 870 Division Of electricity, tTlõSS
production

3 969 Electronics, IT, prod uction

4 Cyber—phys i cal sys tenns

INDUSTRIAL 4.0
Automation Big Data Cloud Computing Autonomous 10T Data Management

Q. Scplainthe of the Fourth Revolution (41R) on finance and accounts

[CMA Sem May-2023]
financial institutions adopting 41Rtechnologies are making significant changes in their
processes, leading to fast-moving innovation in their industry. In the last few years,
personalisation of banking has skyrocketed and almost become an expectation for customers.

The Fourth Industrial Revolution improves an accountants' work experience by reducing the
number of repetitive tasks they need to do each day so they can focus on more meaningful work
and creating greater value for their client base.

The Fourth Industrial Revolution is impacting all areas of business, and for accounting, that's a
good thing. It improves how we access, manage, and protect client data. It leads to better growth
opportunities based on solid client experiences. And it improves the overall accountant-client
relationship.

Some impact of 41R on accounting are given below-

1. The role of the of the accountant is changing
2. Technology is disrupting the accounting sector
3. With change, comes opportunity
4. Accountants should take time when investing in technology
5. Cloud technology is a game-changer for accountants
6. There are challenges with cloud technology to overcome
7. The future of accounting is varied and bright
Opportunities & Challenges of the Fourth Revolution (41R)
Like the revolutions that preceded it, the Fourth Industrial Revolution has the potential to raise
global income levels and improve the quality of life for populations around the world. To date,
those who have gained the from it have been consumers able to afford and access the digital
world; technology has made possible new products and services that increase the efficiency and
pleasure of our personal lives. Ordering a cab, booking a flight, buying a product, making a
payment, listening to music, watching a film, or playing a game—any of these can now be done
remotely.

In the future, technological innovation will also lead to a supply-side miracle, with long-term
gains in efficiency and productivity. Transportation and communication costs will drop, logistics
and global supply chains will become more effective, and the cost of trade will diminish, all of
which will open new markets and drive economic growth.

In addition to being a key economic concern, inequality represents the greatest societal concern
associated with the Fourth Industrial Revolution.

to Data Science for the & Management

Accountants[CM A Exam
June, 2021]
Accountants use data analytics to help businesses uncover valuable insights within their
financials, identify process improvements that can increase efficiency, and better manage risk.
Among the many ways that accountants apply data science techniques are to monitor and
enhance accounting and financial processes, calculate the risk related to strategic decisions, and
anticipate and meet their customers' expectations.

Big Data.

Q. Define Big Data and describe the technologies for managing and analyzing it. [CMA
May, sept -2022]
Big Data is a collection of data that is huge in volume, yet growing exponentially with time. It is
a data with so large size and complexity that none of traditional data management tools can store
it or process it efficiently. Big data is also a data but with huge size.

There are some technologies for managing and analyzing Big Data which are given
below1. Artificial Intelligence: [CMA S(am June 2017, April-2019, Dec-2020, May-
2023]
A broad bandwidth of computer science that deals in designing smart machines capable of
accomplishing various tasks that typically demand human intelligence is known as Artificial
Intelligence.
For example, Al can be used for drug treatment, healing patients, and conducting surgery in OT.
2. NoSQL Database: NoSQL incorporates a broad range of separate database
technologies that are developing to design modern applications.
For example, companies like Facebook, Google and Twitter store terabytes of user data every
single day.

3. R Programming: R is the programming language and an open-source project. It is a

free software highly used for statistical computing, visualization, unified developing
environments like &lipse and Visual Studio assistance communication.

4. Data Lakes: Data Lakes refers to a consolidated repository to stockpile all formats
of data in terms of structured and data at any scale.

5. Predictive Analytics: A subpart of big data analytics, it endeavors to predict future

behavior via prior data.

6. Apache Spark: With in-built features for streaming, SQL, machine learning and
graph processing support, Apache »ark earns the cite as the speedest and common
generator for big data transformation.

7. Prescriptive Analytics: Prescriptive Analytics gives guidance to companies about

what they could do when to achieve aspired outcomes.
8. In-memory Database: The in-memory database(lMDB) is stored in the main
memory of the computer (RAM) and controlled by the in-memory database management
system.

9. Blockchain: Blockchain is the assigned database technology that carries Bitcoin

digital currency with a unique feature of secured data, once it gets written it never be
deleted or changed later on the fact.

10. Hadoop The Hadoop ecosystem comprises a platform that assists in

resolving the challenges surrounding big data.

Q. between natural and artificial intelligence. Exam Dec-2020]

Some of the differences between Artificial and Natural Intelligence are:

• Artificial Intelligence machines are designed to perform few specific tasks while
consuming some energy whereas in Natural Intelligence, human can learn hundred of
different skills during life.
• The time needed to teach each and every system is considerably high as compared to
human who can work on multiple responsibilitiesat the same time.
• Machines use Humans use built-in instructions whereas humans use content memory
and thinking process.
• Al is basically a computer system or machine whereas Human brain are Analogue.
Q.What is an Semple of Big Data?
Following are some of the Big Data examples-

The New York Stock Schange is an example of Big Data that

generates about one terabyte of new trade data per day.
Social Media: The statistic shows that 500+ terabytes of new
data get ingested into the databases of social media site Facebook,
every day. This data is mainly generated in terms of photo and
video uploads, message exchanges, putting comments etc.

Q. What types of Big Data?

Following are the types of Big Data:

1. Structured: Any data that can be stored, accessed and processed in the form
of fixed format is termed as a 'structured' data.
2. Any data with unknown form or the strudure is classified as
unstructured data.
3. Semi-structured data can contain both the forms of data.

Q. What of Big Data can be described?

Big data can be described by the following characteristics:

Volume
Variety
Velocity
Variability

Internet of Things (IOT)

The term IOT, or Internet of Things, refers to the collective network of connected devices and
the technology that facilitates communication between devices and the cloud, as well as between
the devices themselves.

Q. What do you think about production management using Internet of Things (IOT)
technology? [CMA Sam June-2021, Sept-2022]
There are benefits applying IOT in production management which include (not exhaustive list):

1. Rapid replenishment of raw materials - when IOT sensors are deployed in various
locations in the production systems, any raw material reaching lower threshold will trigger
alert to the sources to automatically dispatch & supply the new raw materials. This can
ensure continuous production & minimize down time of the production systems.
2. Elsure quality of products- IOT sensors can be embedded within the production system to
measure the quality of the products so that any measurement goes beyond the variance will
 be alerted & reported so that corredive actions can be triggered via other systems or via the
actuators next to the sensors etc. This can improve / guarantee high quality of the products
manufactured.
3. maintenance - IOT sensors can be deployed to all the critical production
systems / assets or components so that any performance degradation detected on the
components or Sid of Life of the components is near or reached, alerts will be triggered to
component supplier so that they can come to perform proactive maintenance etc. This can
increase high availability of the components within the production system.
M achine Learning
Q.What is machine learning? [CMA Sam May-2023]
Machine learning (ML) isa type of artificial intelligence (Al) that allows software applications to
become more accurate at predicting outcomes without being explicitly programmed to do so.
Machine learning algorithms use historical data as input to predict new output values.

Introductionto

Lear
ns
Q.What are the 4 basics of machine learning?
Machine Learning techniques are divided mainly into the following 4 categories:
S-lpervised Learning. &lpervised learning is applicable when a machine has sample data,
i.e., input as well as output data with correct labels.
Unsupervised Learning.
Reinforcement Learning.
Semi-supervised Learning.
Q. What is network protocol? Identify at three wireless telecommunication protocols
[CMA S(am &n-2022, June-2019,2021]
A network protocol is an established set of rules that determine how data is transmitted between
different devices in the same network.
Types of Wireless Communication Protocols in IOT
1) Wi-fi.
2) Bluetooth.
3) Zigbee.
4) Z-Wave.
5) 6LoWPAN. 6) FID. 7) Cellular.
8) NB-IOT

Q. What is the impact of usng ICT in taxation by Government? What are the experiences
of various countries?[CMA Exam June, 2021]
ICT has affected almost each and every area of business world. It has also assisted Govt. to curb
tax evasion to a large extent. In manual records, it was not very easy to track the records, it is not
so that manual record keeping was not efficient, but when we compare it with digital record
keeping, then really manual record keeping seems to be less efficient,as far as retrieval of data is
concerned. Moreover, various modes like eTDS eTCSe Filing of Income Tax Returns have really
made tax payment by assessees, and in that way,Govt has also been able to expand its tax base
by creating a large pool of satisfied tax payers.
Collecting taxes and fees is a fundamental way for countries to generate public revenues that
make it possible to finance investments in human capital, infrastructure, and the provision of
services for citizens and businesses.
Q. Write short notes on.• [CMA Exam June, 2021]

Digital M arketing: Digital marketing, also called online marketing, is the promotion of brands to
connect with potential customers using the internet and other forms of digital communication.
This includes not only email, social media, and web-based advertising, but also text and
multimedia messages as a marketing channel.

Robotic Process Automation (RPA): Robotic process automation is a form of business process
automation technology based on metaphorical software robots or on artificial intelligence [digital
workers. It is sometimes referred to as software robotics.
Sccel VBA Macro: BA Macros use the Visual Basic Application in Scel to create custom
usergenerated functions and speed up manual tasks by creating automated processes.
Additionally, VBA can be used to access the Windows Application Programming Interface
(API).

Pivot Report: [CMA Bern April-2019] Pivotal Report means a report on 'Professional,
Vocation- al, Technical and Academic Learning' programmes that meet the critical needs for
economic growth and social develop- ment, generally combining course work at universities,
uni- versities of technology and colleges with structured learning at work.

Q. What is the role of ICTs in enhancing economic growth, generating new business and
employment opportunities? [CMA Sem Dec, 2020]
1.2 The Fundamental Role of ICTs in Modern Economic Growth and Development

Unbound from the strictures of the PTT days, ICT has become the foundation of every sector of every economy,
everywhere. The reasons for this are, by now, fairly well-known, but demand brief repetition here. Information
and communications technologies:
reduce transaction costs and thereby improve productivity
offer immediate connectivity — voice, data, visual — improving efficiency, transparency, and
accuracy
substitute for other, more expensive means of communicating and transacting, such as physical
travel
increase choice in the marketplace and provide access to otherwise unavailable goods and
services
widen the geographic scope of potential markets, and channel knowledge and information of
all kinds

Role of ICT in a busness

Therefore, ICT is concerned with digital data storage, retrieval and transmission. ICT makes a
business more efficient, effective and promptly respond to customers' needs. ICT can assist
business activities including design, manufacturing, R& D, distribution and sales and feedback.

Role of ICTs in employment opportunities:

ICTs can contribute to employment and income generation and poverty reduction. It enables
people and enterprises to capture economic opportunities by increasing process efficiency,
promoting participation in expanded economic networks, and creating opportunities for
employment.
ICTs enables solution sharing between local people and communities, providing access to
practical information on small business accounting, weather trends and farming best practices,
for example.
Q. What are the roles of a finance manager in perfect designing of Management
Information ¥em application of an organization by the IT persons? [CMA Exam
April2019, Dec-2018, 2020]
In the modern workplace, it is imperative that Information Technology (IT) works both
effectively and reliably. Computer and information systems managers play a vital role in the
implementation and administration of technology within their organizations.
Common responsibilities of a financial manager include:
1) Producing accurate financial reports and information.
2) Developing cash flow statements.
3) Projecting profit.
4) Managing credit.
5) Providing advice in making financial decisions.
6) Directing investments.
7) Making financial forecasts. 8) Budgeting.

Q. Write short notes on.• [CMA Exam Dec-2020]

(a) Primary Key and Foreign Key: [CMA Sam Dec-2019]
Primary Key: A primary key is used to ensure data in the specific column is unique. It is a
column cannot have NULL values. It is either an existing table column or a column that is
specifically generated by the database according to a defined sequence.

Foreign Key: A foreign key is a column or group of columns in a relational database table that
provides a link between data in two tables. It is a column (or columns) that references a column
(most often the primary key) of another table.

(b) Biometric Security: Biometric security is a security mechanism used to authenticate and
provide access to a facility or system based on the automatic and instant verification of an
individual's physical characteristics.

(c) Service Level Agreement (SLA): A service-level agreement (S-A) defines the level of
service you expect from a vendor, laying out the metrics by which service is measured, as well
as remedies or penalties should agreed-on service levels not be achieved. It is a critical
component of any technology vendor contract.
(d) Pivotal Report of Scel: A PivotTable is a powerful tool to calculate, summarize, and
analyze data that lets you see comparisons, patterns, and trends in your data. RvotTables work a
little bit differently depending on what platform you are using to run Excel.
(e) Data Centre: A data center or data centre is a building, a dedicated space within a
building or a group of buildings used to house computer systems and associated components,
such as telecommunications and storage systems.

(f) Data Data redundancy occurs when the same piece of data exists in
multiple places, whereas data inconsistency is when the same data exists in different formats in
multiple tables.

Q. What does Pivot mean? How do you create a pivot report? [CMA Sam Dec-
2020]
A PivotTable is an interactive way to quickly summarize large amounts of data. You can use a
PivotTable to analyze numerical data in detail, and answer unanticipated questions about your
data.
How to Create a Pivot Table:
1) Biter your data into a range of rows and columns.
2) Sort your data by a specific attribute.
3) Highlight your cells to create your pivot table.
4) Drag and drop a field into the "Row Labels" area. 5) Drag and drop a field into the
"Values" area. 6) fine-tune your calculations.

Q. You have a buSness process that your business requires but your current does not have
those capabilities what can you do? [CM A S(am Dec-2020]
Manufacturers must ensure that the RPthat they select for their business includes
technologyenabled automation of the business processes that are most important to them.
Factors can help ensure a successful implementation1)
Project Strategy and Sart Up.
2) Management Commitment.
3) Project Sope.
4) Project Team.
5) Change Management, Communication and Training.
6) Customizations/ Modifications.
7) Budget.
8) Project Closure.
Q. Why is the Blockchain considered to be a 'disruptive' technologyo. [CMA S(am Jan-
2023]
Blockchain is a distributed ledger technology that records, and tracks data based on a
decentralised and transparent system.
Bockchain has been considered a disruptive technology compared to the Internet, promising
innovation in the financial and commercial area comparable to the impact that the Web had on
communication. It stands to revolutionise the way we interact with each other based on three
main concepts:

Track and data — the decentralised and distributed system across an

extensive network of computers becomes a safe way to track data changes over
time.
— it is the key concept. The system allows us to interact direcily with our data in real-time
and the network, all the computers verifies the changes in the transactions which creates trust in
the data.
Peer-to-peer — in this system there is no more
intermediaries. Instead of sharing our data with an intermediary such as a bank
or a lawyer, we will share it directly with peers. It is a new way to access, verify
and transact with each other.
Q. How will you deal with any of the changes in the IT Project? [CMA Sem Jan-
2023]
10 tips to manage change Know
your baseline.
Know your client's priorities.
Define the change process.
Know the decision makers.
Document changes.
Communicate about change - early and often.
Review the change and assess impact. Get approval.

Q. What role do the bridge, router, brouter, gateway and switch play in a network.
June-2019, April-2020]
Bridge: Bridge is used to divide a large network into smaller segments. Basic functions of the
Bridge are the following: —
Breaking a large network into smaller segments.
Connecting different media types. &JCh as connects UTP with the fiber optic.
Connecting different network architectures. &JCh as connects Rhernet with the
Token ring.

There are three types of Bridge:- Local Ùidge, Remote &idge and Wireless Bridge.

Router: A router is a networking device that forwards data packets between computer networks.
perform the traffic directing functions on the Internet.
 Thank you. If
you face any
problem, Plz feel
free to chat with
me.
Whatsapp +
8801710500610
Bridge router/ Brouter: A bridge router or brouter is a network mizaŒuucroßel
device that works as a bridge and as a router. The brouter routes
packets for known protocols and simply forwards all other
packets as a bridge would.
Gateways: Gateway is a network device used to connect two or
more networks having different protocols. A gateway usually is
a computer with multiple NICs connected to different networks.
A gateway can also be configured completely using software.

Switch: A network switch is networking hardware that connects devices on a computer

network by using packet switching to receive and forward data to the destination device.

A switch is a layer-2 network connecting device, i.e., it works on the physical and
data-link layer of the OSI model.