Risk management project part 4

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This project is divided into several parts, each with a deliverable. The first four parts are drafts. These documents should resemble business reports in that they are organized by headings, include source citations (if any), be readable, and be free from typos and grammatical errors. However, they are not final, polished reports.Please see the attached requirements.

” This is a report that should describe what you plan to do/have done in this area as part of your assessment – This is not a research paper assignment”

Project Part 4: Business Impact Analysis (BIA) and Business Continuity Plan (BCP)

Senior management at Health Network has decided they want a business impact analysis (BIA) that examines the company’s data center and a business continuity plan (BCP). Because of the importance of risk management to the organization, management has allocated all funds for both efforts. Your team has their full support, as well as permission to contact any of them directly for participation or inclusion in the BIA or BCP.Winter storms on the East Coast have affected the ability of Health Network employees to reach the Arlington offices in a safe and timely manner. However, no BCP plan currently exists to address corporate operations. The Arlington office is the primary location for business units, such as Finance, Legal, and Customer Support. Some of the corporate systems, such as the payroll and accounting applications, are located only in the corporate offices. Each corporate location is able to access the other two, and remote virtual private network (VPN) exist between each production data center and the corporate locations.The corporate systems are not currently being backed up and should be addressed in the new plan. The BCP should also include some details regarding how the BCP will be tested.For this part of the project:

Research BIAs and BCPs.
Develop a draft BIA plan for the Health Network that focuses on the data center. The BIA should identify:
1. Critical business functions
2. Critical resources
3. Maximum acceptable outage (MAO) and impact
4. Recovery point objective (RPO) and recovery time objective (RTO)
Develop a draft BCP that could recover business operations while efforts are ongoing to restart pervious operations. You may use or repurpose a BCP template you find online. Include a description of how you would test the plan.

Submission Requirements

Format: Microsoft Word (or compatible)
Font: Arial, size 12, double-space
Citation style: Your school’s preferred style guide

Estimated length: 6–10 pages

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July 1, 2023

48.Which financial statement is prepared as of a specific date?

A. The balance sheet

B. The income statement

C. The statement of cash flows

D. The balance sheet, income statement, and statement of cash flows are all for a period of time rather than at a specific date.

49.In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a management accounting report is more likely to:

A. Be used by decision makers outside of the business organization.

B. Focus upon the operation results of the most recently completed accounting period.

C. View the entire organization as the reporting entity.

D. Be tailored to the specific needs of an individual decision maker.

50.Which of the following decision makers is least likely to be among the users of management accounting reports developed by Sears Roebuck and Co.?

A. The chief executive officer of Sears.

B. The manager of the Automotive Department in a Sears' store.

C. The manager of a mutual fund considering investing in Sears' common stock.

D. Internal auditors within the Sears organization.

51.Which financial statement is primarily concerned with reporting the financial position of a business at a particular time?

A. The balance sheet.

B. The income statement.

C. The statement of cash flows.

D. All three statements are concerned with the financial position of a business at a particular time.

52.Financial statements are prepared:

A. Only for publicly owned business organizations.

B. For corporations, but not for sole proprietorships or partnerships.

C. Primarily for the benefit of persons outside of the business organization.

D. In either monetary or nonmonetary terms, depending upon the need of the decision maker.

53.Financial statements may be prepared for which time period?

A. One year.

B. Less than one year.

C. More than one year.

D. Any time period.

54.Which of the following is generally not considered an external user of accounting information?

A. Stockholders of a corporation.

B. Bank lending officers.

C. Financial analysts.

D. Factory managers.

55.Although accounting information is used by a wide variety of external parties, financial reporting is primarily directed toward the informational needs of:

A. Investors and creditors.

B. Government agencies such as the Internal Revenue Service.

C. Customers.

D. Trade associations and labor unions.

56.Investors may be described as:

A. Individuals and enterprises that have provided credit to a reporting entity.

B. Individuals and enterprises that own a reporting entity business.

C. Anyone that has an interest in the results of the operations of the reporting entity.

D. Those whose primary economic activity consists of buying and selling stocks and bonds.

57.Of the following objectives of financial reporting, which is the most specific?

A. Provide information useful in assessing amount, timing, and uncertainty of future cash flows.

B. Provide information useful in making investment and credit decisions.

C. Provide information about economic resources, claims to resources, and changes in resources and claims.

D. Provide information useful to help the enterprise achieve its goals, objectives, and mission.