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Acct 361
Acct 361
27
Accounting
Undergraduate 3
09/29/2011

Additional Accounting Flashcards

 


 

Cards

Term
Business Process Categories
Definition
1) Operating Events
2) Information Events
3) Decision/Management Events
Term
Information Event Examples
Definition
Record Order; Calculate Amount Total; Mark Paid; Give Customer Copy of Order; Give Accounting Order Copy
Term
Transaction File
Definition
A file that contains records of individual transactions (events) that occur during a fiscal period
Term
Report Time Processing
Definition
Means the data used to generate the requested report are processed as the report is created
Term
Operating Events
Definition
Operating activities performed within a business process to provide goods or services to customers
Term
R.E.A.L.
Definition
Resources
Events
Agents
Location
Term
Database
Definition
A set of interrelated centrally-coordinated files
Term
Workflow
Definition
Refers to jobs or tasks performed by members of a workgroup to achieve some objective
Term
Traditional Accounting System Problems
Definition
Input: Narrow Set of Transactions
Process: Classifies and summarizes transaction data
Output: Produces narrow functional views
Term
Online Processing
Definition
The computer-input device is connected to the CPU
Term
Business Event
Definition
Denotes a single activity within a business process
Term
Operating Event Examples
Definition
Receive customer order; receive customer payment; make order; give order
Term
Master File
Definition
A file that stores cumulative information about an organization's entities
Term
Real-Time Processing
Definition
Immediate response to an information user
Term
Support Activities
Definition
Facilitates accomplishing the primary activities
Term
Decision/Management Events
Definition
Activities where management and other people make decisions about planning, controlling, and evaluating business processes
Term
Accounting Transactions
Definition
Are business events that cause a change in the organization's assets, liabilities, or owner's equity.
Term
Batch Processing
Definition
Accumulates transaction data for a period of time called a batch or group of transaction data. Then all of the transactions in the file are posted to the master file in one processing run.
Term
Business Process
Definition
A series of activities intended to accomplish the strategic objectives of an organization
Term
Primary Activities
Definition
Events that create customer value and provide organization distinctiveness in the marketplace
Term
Information Events
Definition
Recording, maintaining & reporting useful information to management
Term
Characteristics of an AIS
Definition
Designed to collect, maintain, and process data
Term
Types of Processing
Definition
Batch
Online
Real-Time
Term
Value Chain
Definition
Business activities that add value or usefulness to an organization's product or services.
*Can be physical or technological*
Term
Sales/Collection Process
Definition
Delivering goods, services to customers for payment
Term
Conversion Process
Definition
Converting goods and services acquired into goods & services for sale.
Term
Acquisition/Payment Process
Definition
Activities involved in acquiring, paying for, and maintaining the goods and services
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