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AIS-Chapter 8
AIS-Chapter 8
34
Accounting
Undergraduate 4
03/13/2011

Additional Accounting Flashcards

 


 

Cards

Term
purchase order
Definition
a form created when a customer places an order with a company (customer perspective)
Term
sales order
Definition
a form created when a customer places an order with a company (company perspective)
Term
price list
Definition
the entire set of preestablished and approved prices for each product
Term
credit limit
Definition
the maximum dollar amount that a customer is allowed to carry as an accounts receivable balance
Term
pick list
Definition
documents the quantities and descriptions of items ordered
Term
packing slip
Definition
prepared by warehouse personnel lists all items included in a shipment
Term
bill of lading
Definition
the terms of the agreement between the company and the carrier
Term
shipping log
Definition
chronological listing of shipments that allows management to track the status of sales and to answer customer inquiries regarding order status
Term
sales invoice
Definition
provides details of the sale and requests payment
Term
sales journal
Definition
a special journal that records sales transactions
Term
receiving log
Definition
lists the chronological sequence of all returned items
Term
receiving report
Definition
a source document completed by personnel in the receiving dock that documents the quantity and condition of items received
Term
credit memorandum
Definition
prepared to document the return and to adjust the amount of the customer's credit status
Term
sales allowance
Definition
a credit to the customer account made to compensate the customer for a defective product or a late shipment
Term
remittance advice
Definition
the documentation accompanying payment that identifies the customer account number and invoice to which the payment applies
Term
cash receipts journal
Definition
a special journal that records all cash collections
Term
e-commerce systems
Definition
incorporate electronic processing of sales-related agencies, and generally, e-commerce sales processes are transacted over the internet
Term
electronic data interchange systems
Definition
systems communicate sales documents electronically with a standard business format
Term
point of sale systems
Definition
process sales at a cash register in retail stores
Term
business process reengineering
Definition
is the purposeful and organized changing of business processes to make the processes more efficient
Term
B2C
Definition
business to consumer internet sales
Term
B2B
Definition
business to business internet sales
Term
header data
Definition
contain information about the file or transmission being sent
Term
trailer data
Definition
also contain data about the file or transmission and identify the end of a particular transaction data set
Term
labeling interchanges
Definition
identify the type of transactions in the set, such as a set of sales invoices
Term
data segments
Definition
include the actual data within the invoices, such as quantities and prices
Term
value added networks
Definition
provide other valuable services such as translation and encryption of the edi data and authentication of a valid and authorized trading partner
Term
authentication
Definition
the process of user identification to ensure that only authorized users are accessing the IT system
Term
encryption
Definition
the coding of data that makes data unreadable to those without the encryption key
Term
transaction logging
Definition
occurs when the it system automatically produces a log of users and the actions they undertake within the it system
Term
control totals
Definition
are subtotals of selected fields for an entire batch of transactions
Term
acknowledgment
Definition
a reply that echoes the data control totals
Term
channel stuffing
Definition
is intentionally persuading a customer to buy more than needed, thereby stuffing more product into the sales channel
Term
leaving sales open
Definition
is a term that refers to moving a period cut-off date forward to include sales that rightly would occur in a future period
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