Term
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Definition
the operations performed on data to generate meaningful and relevant information:
- Data Input
- Data Storage
- Data Processing
- Information Output
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company output sent to an external party, who often adds data to the document, and then is returned to the company as an input document. They are in machine readable form to facilitate their subsequent processing as input records |
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devices that capture transaction data in machine-readable form at the time and place of their origin (ATMs, POS scanners, bar code scanners, etc...) |
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contains summary-level data for every asset, liability, equity, revenue, and expense account |
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contains detailed data for any general ledger account with many individual subaccounts |
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the general ledger account corresponding to a subsidiary ledger |
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the systematic assignment of numbers or letters to items to classify and organize them |
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items are numbered consecutively to account for all items. any missing items cause a gap in the numerical sequence (checks, invoices, POs, etc...) |
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blocks of numbers are reserved for specific categories of data. |
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two or more subgroups of digits used to code items, often used in conjunction with block codes |
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letter and number are interspersed to identify an item. the mnemonic code is derived from the description of the item and is usually easy to memorize |
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a list of the numbers assigned to each general ledger account. These account numbers allow transaction data to be coded, classified, and entered into the proper accounts. They also facilitate the preparation of financial statements and reports, because data stored in individual accounts can easily be summed for presentation. |
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transaction data are often recorded in a journal before they are entered into a ledger. |
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is used to record infrequent or non-routine transactions, such as loan payments and end-of-period adjusting and closing entries |
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records large numbers of repetitive transactions such as sales, cash receipts, and cash disbursements |
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a traceable path of a transaction through a data processing system from point of origin to final output, or backwards from final output to point of origin; used to check accuracy and validity of ledger postings |
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something about which information is stored, such as employees, inventory items, and customers |
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each entity has attributes; characteristics of interest, that are stored, such as pay rate and address |
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each intersecting row and column is a field withing a record, the contents of which are called a data value |
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a group of selected records |
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stores cumulative information about an organization; master files are permanent; they exist across fiscal periods |
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contains records of individual business transactions that occur during a specific time; not permanent and may not be needed beyond the current fiscal period. however, they are usually maintained for a specified period for backup purposes |
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a set of interrelated, centrally coordinated files |
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updating done periodically, such as daily |
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online, real-time processing |
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each transaction is updated as it occurs; stored information is always current |
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records of transaction or other company data |
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used by employees to control operational activities and by managers to make decisions and to formulate business strategies. |
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used to provide the information needed to deal with problems and questions that need rapid action or answers |
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modular systems that integrate all aspects of a company's operations with a traditional AIS |
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| three facets of data that must be collected about each business activity |
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Definition
1) each activity of interest
2) the resource(s) affected by each activity
3) the people who participate in each activity |
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| Coding Technique guidelines |
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Definition
- code should be consistent with its intended use
- code should allow for growth
- code should be as simple as possible to minimize costs, faciliate memorization and interpretation, and ensure employee acceptance
- code should be consistent with the company's organizational structure and across the company's divisions |
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| Four types of data processing activities, referred to as CRUD: |
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Definition
1. creating new data records
2. reading, retrieving, or viewing existing data
3. updating previously stored data
4. deleting data |
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Term
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Definition
- provides an integrated, enterprise-wide, single view of the organization's data and financial situation
- data input is captured or keyed, once, rather than multiple times, as it is entered into different systems
- management gains greater visibility into every area of the enterprise and greater monitoring capabilities
- organization gains better access control
- procedures and reports are standardized across business units
- customer services improves
- manufacturing plants receive new orders in real time
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Term
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Definition
- Cost
- Amount of time required to implement
- changes to business processes
- complexity
- resistance among departments
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Which of the following is NOT a step in the data processing cycle?
a) data collection
b) data input
c) data storage
d) data processing |
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| a) data collection is a part of the input process |
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All of the information (name, GPA, major, etc.) about a particular student is stored in the same ______.
a) file
b) record
c) attribute
d) field |
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Which of the following would contain the total value of all inventory owned by an organization?
a) source document
b) general ledger
c) cash budget |
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Which of the following is most likely to be a general ledger control account?
a) accounts receivable
b) petty cash
c) prepaid rent
d) retained earnings |
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Definition
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Which of the following documents is most likely to be used in the expenditure cycle?
a) sales orders
b) credit memo
c) receiving report
d) job time ticket |
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Definition
| d) receiving report: document used to record the receipt of goods from suppliers. Company's pay for these goods based on the receiving report |
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Which of the following is LEAST likely to be a specialized journal?
a) sales journal
b) cash receipts journal
c) pre-paid insurance journal
d) cash disbursements journal |
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Definition
| c) pre-paid insurance journal |
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How does the chart of accounts list general ledger accounts?
a) alphabetical order
b) chronological order
c) size order
d) the order in which they appear in financial statements |
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Definition
| d) the order in which they appear in financial statements |
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Which of the following is NOT an advantage of an ERP system?
a) better access control
b) standardization of procedures and reports
c) improved monitoring capabilities
d) simplicity and reduced costs |
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Definition
| d) simplicity and reduced costs |
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Records of company data sent to an external party and then returned to the system as input are called ____.
a) turnaround documents
b) source data automation documents
c) source documents
d) external input documents |
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