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Definition
| an agreement between two entities to exchange goods or services or any other event that can be measured in economic terms by an organization |
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Definition
| a process that begins with capturing transaction data and ends with an informational output |
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| an event where two entities exchange items such as cash for goods or services |
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| business or transaction cycle |
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Definition
| a group of related business processes. the major business cycles are sales and marketing, purchasing and inventory control, production, human resources and payroll and finance |
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Definition
| the recurring set of business activities and information processing operations associated with providing goods and services to customers and collecting cash in payment for those sales |
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| a recurring set of business activities and related data processing operations associated with the purchase of and payment for goods and services |
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| the recurring set of business activities and related data processing operations associated with the manufacture of products |
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| human resources/payroll cycle |
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Definition
| the recurring set of business activities and related data processing operations associated with effectively managing the employees workforce |
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Definition
| the business activities and related data processing operations associated with obtaining the necessary funds to run the operations, repay creditors, and distribute profits to investors |
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Term
| general ledger and reporting system |
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Definition
| the information processing operations involved in updating the general ledger and preparing reports that summarize the results of the organization's activities |
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Definition
| the operations performed on data in computer-based systems to generate meaningful and relevant information. The data processing cycle has four stages: data input, data storage, data processing and information output. |
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Definition
| contain the initial record of a transaction that takes place. Examples: sales invoices, purchase orders, and employee time cards |
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Definition
| records of company data sent to an external party and then returned to the system as input. Prepared in machine-readable forms to facilitate their subsequent processing as input records. Ex: utility bill |
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| source data automation (SDA) |
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Definition
| the collection of transaction data in machine-readable forms at the time and place of origin. Ex: optical scanners and ATMs |
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Term
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Definition
| contains summary-level data for every asset, liability, equity, revenue, and expense account of the organization |
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Definition
| used to record the detailed data for any general ledger account that has many individual sub-accounts. Commonly used for accounts receivable, inventory, fixed assets, and accounts payable |
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Term
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Definition
| a general ledger account that summarizes the total amounts recorded in a subsidiary ledger. Thus, the accounts payable control account in the general ledger represents the total amount owed to all vendors. The balances in the subsidiary accounts payable ledger indicate the amount owed to each specific vendor. |
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Term
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Definition
| they systematic assignment of numbers or letters to items to classify and organize them. |
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Definition
| documents that are numbered consecutively to account for them. Any gaps in the sequence code indicate missing documents that should be investigated. Ex: pre-numbered checks, invoices, and purchase orders |
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Term
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Definition
| blocks of numbers within a numerical sequence reserved for categories having meaning to the user |
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Definition
| two or more subgroups of digits that are used to code an item. Used in conjunction with a block code |
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Definition
| a listing of all balance sheet and income statement account number codes for a particular company |
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Definition
| used to record infrequent or non-routine transactions, such as loan payments and end-of-period adjusting and closing entries |
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Definition
| journals where large numbers of repetitive transactions--such as credit sales, cash receipts, purchases on account, and cash disbursements--are recorded. |
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Term
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Definition
| a traceable path of a transaction through a data processing system from point of origin (whether paper or electronic) to final output or backwards from final output to point of origin. An audit trail provides a means to check the accuracy and validity of ledger postings and to trace all changes in general ledger accounts from their beginning balance to their ending balance |
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Definition
| the item about which information is stored in a record. Examples: an employee, an inventory item, and a customer. |
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Definition
| characters of interest in a file or database; the different individual properties of an entity. Ex: employee number, pay rate, name and address |
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Definition
| the part of a data record that contains the data value for a particular attribute. All records of a particular type usually have their fields in the same order. |
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Term
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Definition
| a set of logically related data items that describe specific attributes of an entity, such as all payroll data relating to a single employee |
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Definition
| the actual value stored in a field. it describes a particular attribute of an entity |
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Definition
| a set of logically related records, such as the payroll records of all employees |
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Definition
| a permanent file of records that stores cumulative information about an organization's resources and the agents with whom it interacts. As transactions take place, individual records within a master file are updated to keep them current. |
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Term
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Definition
| contain records of the individual business transactions that occur during a specific fiscal period. A transaction file is conceptually similar to a journal in a manual AIS. |
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Term
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Definition
| a set of interrelated, centrally controlled data files that are stored with as little data redundancy as possible. A database consolodates many records previously stored in separate files into a common pool of data records and serves a variety of users and data processing applications |
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Term
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Definition
| accumulating transaction records into groups or batches for processing at some regular interval such as daily or weekly. The records are usually stored into some sequence (such as numerically or alphabetically) before processing |
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| online, real-time processing |
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Definition
| the computer system processes data immediately after capture and provides updated information to the user on a timely basis |
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Definition
| records of transaction or other company data such as checks, invoices, receiving reports, and purchase requisitions. |
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Definition
| a document that is generated as an output of transaction processing activities. Ex: purchase orders, customer statements, and employee paychecks. |
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Definition
| system output organized in a meaningful fashion. used by employees to control operational activities, by managers to make decisions and design strategies, and by investors and creditors to gather information about a company's business activities. Prepared for both internal and external use |
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Term
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Definition
| a request for specific information from a computer. When the information is found, it is retrieved, displayed or analyzed as requested. Often used by database management system to extract data from the database. |
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Definition
| the formal expression of goals in financial terms. They are financial planning tools |
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Definition
| a budget that shows projected cash inflows and outflows. A cash budget can provide advance warning of cash flow problems so corrective action can be taken |
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Term
| enterprise resource planning systems (ERP) |
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Definition
| a system that integrates all aspects of an organization's activities into one accounting information system |
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Definition
| a report that compares standard, or expected, performances with actual performance and also shows the variances or differences, between the two. Used for financial control |
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