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| an agreement between two entities to exchange goods or services. Any exchange that can be measured in economic terms by an organization |
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| A process that begins with capturing transaction data and ends with an informatinal output |
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| An event where two entities exchange item such as cash for goods or services |
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| Business or transaction cycle |
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| A group of related business processes. The major busines cycles are sales and marketing, purchasing and inventory control, prduction, human resources and payroll, and finance. |
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| 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 procesng 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 manufacutres of products. |
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| human resources/payroll cycle |
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| The recurring set of business activities and related data processing operations associated with effectively managing the employee workforce |
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| general ledger and reporting system |
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| The information-processing oeprations involved in updating the general ledger and preparing reports that summarize the results of the organization's activities |
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| 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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| The operations performed on data in computer-based systems to generate meaingful and relevant information. The data processing cycle has four stages: data input, data storage, data processing, and information output. |
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| Contain the initial record of a traction that takes place. Examples of source documents, which are usually recorded on reprinted forms, include sales invoices, purchase orders, and employee time cards. |
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| Records of company data sent to an external party and then returned to the system as input. Turnaround documents are prepared in machine-readable form to facilitate their subsequents processing as input records. |
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| The collection of transaction data in machine-readable form at the time and place of origin. |
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| Contains summary-level data for every asset, liability, equity, revenue, and expense account of hte organization |
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| Used to record the detailed data for any general ledger account that has many individual subaccounts. Subsidiary ledgers are commonly used for accounts receivable, inventory, fixed assets, and accounts payable. |
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| 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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Definition
1) the systematic assignment of numbers or letters to items to classify and organize them.
2) Writing program instructions that direct a computer to perform a specific data processing task. |
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| Documents are numbered consecutively to account form them, any gaps in the sequence code indicate missing documents that should be investigated. Examples of documents that are given sequence codes include pre numbered checks, invoices, and purchase orders. |
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| Blocks of numbers within a numerical sequence reserved for categories having meaning to the user. |
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| Two or more subgroups of digits that are used to code an item. A group code is often used in conjunction with a block code. |
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| A listing of all balance sheet and income statement account number codes for a particular company |
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| The general journal is used to record infrequent or nonroutine transactions, such as loan payments and end of period adjusting and closing entries |
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| Journal where large number or repetitive transactions - such as credit sales, cash receipts, purchases on account, and cash disbursements - are recorded. |
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Definition
| A traceable path of a transaction through a data processing system from point of origin 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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| The item about which information is stored in a record. Examples include an employee, an inventory item, and a customer. |
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| Characteristics of interest in a file or database; the different individual properties of an entity. Examples of attributes are employee number, pay rate, name, and address |
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| 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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| 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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| the actual value stored in a field. it describes a particular attribute of an entity |
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| a set of logically related records, such as the payroll records of all employees |
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| a permanent file of records that stores cumulative information about an organization's resources and teh agents with whom it interacts. as transactions take place, individual record within a master file are updated to keep them current. |
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| Transaction files 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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| a set of interrelated, centrally controlled data files that are stored with as little data redundancy as possible. A database consolidates 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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Definition
| Accumulating transaction records into groups or batches for processing at some regular interval such as daily or weekly. The records are usually sorted into some sequence before processing. |
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| online, real-tme processing |
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Definition
| the computer system processes data immediately after capture and provides updated information to the use on a timely basis |
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Definition
| record of transaction or other company data such as checks, invoices, receiving reports, and purchase requisitions. |
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| a document that is generated as an output of transaction processing activities. Examples include purchase order, customer statement, and employee paychecks. |
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| 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. |
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| A request for specific information from a computer. When the information is found, it is retrieved, displayed, or analyzed as requested. Queries are often used with a databased management system to extract data from the database |
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| The formal expression of goals in financial terms. Budgets are financial planning tools. |
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| A budget that shows projected cash inflows and out-flows. A cash budget can provide advance warning of cash flow problems so corrective action can be taken. |
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| a report that compares standard, or expected, performances with actual performance and also shows the variances, or differences, between the two. |
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| enterprise resource planning systems |
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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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