PorkyCo is a leading bread manufacturer in Toyland operating two functional divisions: pulled and roasted. PorkyCo uses IT systems in all of its functions, for example, accounting has one system, manufacturing has its system, warehousing has another and human resources is the latest to develop a dedicated system to manage training and development The issue now is that when the CEO, Mr Button, needs information about two or more functions, he has to convene the department heads to get their reports and then study each in turn. As senior management accountant at PorkyCo, help free up Mr Button's time by suggesting the most efficient way of getting all the information he needs.

Risk management can be represented as a four step process. The four steps, shown randomly, are:
1. Establish appropriate risk management policies.
2. Risks are identified by key stakeholders.
3. Risks are monitored on an ongoing basis.
4. Risks are evaluated according to the likelihood of occurrence and impact on the organization.
Which of the following is the correct order for the four steps?

In accordance with a just-in-time (JIT) philosophy, which of the following is regarded as a value added activity?

A risk averse decision maker will:

Which of the following is a valid objective of a transfer pricing system?