Shared Flashcard Set

Details

Accounting Information Systems
Final Terms
66
Accounting
Undergraduate 4
12/12/2010

Additional Accounting Flashcards

 


 

Cards

Term
Virtual Private Network (VPN)
Definition
Provides the functionality of a privately owned network, while using the Internet
Term
Cookie
Definition
Text file created by a Web site and stored on a visitor's hard disk
Term
Field Check
Definition
determines if the characters in a field are of the proper type
Term
Sign Check
Definition
determines the data in a field have the appropriate arithmetic sign
Term
Limit Check
Definition
tests a numerical amount to ensure that it does not exceed a predetermined value
Term
Range Check
Definition
similar to a limit check except that it has both upper and lower limits
Term
Size Check
Definition
ensures that the input data will fit into the assigned field
Term
Completeness Check
Definition
on each input record determines if all required data items have been entered
Term
Validity Check
Definition
compares the ID code or account number in transaction data with similar data in the master file to verify that the account exists
Term
Reasonableness Test
Definition
determines the correctness of the logical relationship between two data items
Term
Check Digit Verification
Definition
authorized ID numbers can contain a check digit that it computed from the other digits
Term
Sequence Check
Definition
tests if a batch of input data is in the proper numerical or alphabetical sequence
Term
Error Log
Definition
contains information about data input or data processing errors
Term
Batch Totals
Definition
summarize key values for a batch of input records should be calculated
Term
Batch Total - Financial  Total
Definition
sums a field that contains dollar values
Term
Batch Total - Hash Total
Definition
sums a nonfinancial numeric field
Term
Record Count
Definition
sumes the number of records in a batch
Term
Prompting
Definition
the system requests each input data item and waits for an acceptable response
Term
Preformatting
Definition
the system displays a document with highlighted blank spaces and waits for the data to be entered
Term
Closed-Loop Verification
Definition
checks the accuracy of input data by using it to retrieve and display other related information
Term
Transaction Log
Definition
includes detailed record of all transaction data
Term
Header Record
Definition
located at the beginning of each file and contains the file names
Term
Trailer Record
Definition
located at the end of the file and contains the batch totals calculated during input
Term
Transposition Error
Definition
financial or hash total discrepancy is evenly divisable by 9
Term
Cross-Footing Balance Test
Definition
compares the results produced by each method to verify accuracy
Term
Zero-Balance Test
Definition
applies the same logic to control accounts
Term
Parity Checking
Definition
entails of verifying that there are the proper number of bits set to the value 1 in each character received
Term
Echo Check
Definition
a summary statistic such as the number of bits in the message
Term
Fault Tolerance
Definition
enabling a system to continue functioning in the event that a particular component fails
Term
Uninterruptible Power Supply (UPS)
Definition
system that provides protection in the event of a prolonged power outage
Term
Backup
Definition
an exact copy of the most current version of a database, file, or software program
Term
Restoration
Definition
process of installing the backup copy
Term
Incremental Backup
Definition
involves copying only the data items that have changed since the last backup
Term
Differential Backup
Definition
copies all changes made since the last full backup
Term
Cold Site
Definition
an empty building that is prewired for necessary telephone and Internet access
Term
Hot Site
Definition
a facility that is not only prewired for telephone and Internet access but also contains all the computing and office equipment the organization needs
Term
Revenue Cycle
Definition
recurring set of business activities and related information processing operations associated with providing goods and services to customers and collecting cash in payment for those sales
Term
Sales Order
Definition
contains information about item numbers, quantities, prices, and other terms of the sale
Term
Electrontic Data Interchange (EDI)
Definition
send orders directly to a companies sales order system in a format that would eliminate the need for data entry
Term
Credit Limit
Definition
maximum allowable account balance based on the customer's past credit history and ability to pay
Term
Picking Ticket
Definition
lists the items and quantities of each item that the customer orderd
Term
Packing Slip
Definition
lists the quantity and description of each item included in the shipment
Term
Bill of Lading
Definition
legal contract that defines responsibility for the goods in transit
Term
Sales Invoice
Definition
in the billing process, notifies customers of the amount to be paid and where to send payment
Term
Open-Invoice Method
Definition
customers typically pay according to each invoice
Term
Balance-Forward Method
Definition
customers typically pay according to the amount shown on a monthly statement
Term
Credit Memo
Definition
authorizes the crediting of the customer's account
Term
Remittance List
Definition
a document identifying the names and amount of all customer remittances and in accounts receivable
Term
Lockbox
Definition
postal address to which customers send their remittances
Term
Expenditure Cycle
Definition
recurring set of busniess activities and related information processing operations associated with the purhcase of and payment for goods and services
Term
Economic Order Quantity (EOQ)
Definition
based on calculating an optimal order size to minimize the sum of ordering, carrying, and stockoout costs
Term

Materials Requirements Planning (MRP)

 

Definition
reduce required inventory levels by improving the accuracy of forecasting techniques to better schudule purchases to satisfy productions
Term
Just-in-Time (JIT)
Definition
minimize or totally eliminate carrying inventory
Term
Purhcase Requistion
Definition
document, or electronic form, that indentifies the requisitioner with loaction, item numbers, descriptions,
Term
Purhcase Order
Definition
document or electronic form that formally requests a supplier to sell and deliver specified products at designated prices
Term
Blanket Purchase Order
Definition
commitment to purchase specified items at designated prices from a particular supplier for a set time period, usually a year
Term
Receiving Report
Definition
primary document used in the receiving subsystem of the expenditure cycle, documents details baout each delivery
Term
Debit Memo
Definition
records the adjustment being requested
Term
Nonvoucher System
Definition
each approved invoice is posted to individual supplier records in the accounts payable file and is then stored in an open-invoice file
Term
Voucher System
Definition
a disbursement voucher is also prepared
Term
Disbursement Voucher
Definition
identifies the supplier, lists the outstanding invoices, and inicates the net amount to be paid after deducting any applicable discounts and allowances
Term
Voucher Package
Definition
a combination of purchase order and receiving report
Term
Evaluated Receipt Settlement (ERS)
Definition
a two-way match of the purchase order and receiving report
Term
Procurement Card
Definition
a corporate credit card that employees can use only at designated suppliers to purchse specific kinds of items
Term
Kickbacks
Definition
are gifts from suppliers to purchasing agents for the purpose of influencing their choice of suppliers
Supporting users have an ad free experience!