Term
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Definition
| data that have been organized and processed to provide meaning to the user |
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Definition
| benefit produced by the information minus the cost of producing it |
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Term
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Definition
| set of two or more interrelated components that interact to achieve a goal |
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Definition
| facts that are collected, recorded, stored, and processed by an information system |
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Term
| accounting information system |
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Definition
| a system that collects, records, stores, and processes data to produce information for decision makers |
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Definition
| linking together of all the primary and support activities in a business. Value is added as a product passes through the chain |
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Definition
| an extended system that includes an organization's value chain as well as its suppliers, distributors, and customers |
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Definition
| an agreement between two entities to exchange goods or services |
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Term
| 5 major business or transaction cycles |
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Definition
revenue cycle
expenditure cycle
production cycle
human resources/payroll cycle
financing cycle |
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Term
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Definition
| systematic assignment of numbers or letters to items to classify and organize them |
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Term
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Definition
| items are numbered consecutively to ensure that there will be no gaps in the sequence, helps keep track of missing documents |
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Term
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Definition
| blocks of numbers within a numerical sequence that are reserved for categories having a meaning to the user. |
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Term
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Definition
| used in conjunction with block codes. Two or more subgroups of digits are used to code the item |
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Term
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Definition
| periodic updating of data |
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Term
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Definition
| compare standard, or expected, performances with actual performance |
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Term
| Enterprise resource planning (ERP)system |
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Definition
| system that integrates all aspects of an organization's activities into one accounting information system |
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Term
| 7 characteristics of useful information |
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Definition
1. Relevant
2. Reliable
3. Complete
4. Timely
5. Understandable
6. Verifiable
7. Accessible |
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Term
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Definition
| operations performed on data to produce meaningful info. |
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