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Accounting Systems Ch. 7
Accounting Systems Midterm terms
19
Accounting
Undergraduate 4
10/02/2012

Additional Accounting Flashcards

 


 

Cards

Term
Alphanumeric codes
Definition
codes that use numbers and letters
Term
Block codes
Definition
sequential codes in which specific blocks of numbers are reserved for particular uses
Term
Business event
Definition
an activity that may or may not impact financial statements, but is important to the business
Term
Business process
Definition
a collection of activities or flow of work in an organization that creates value
Term
Business Process Management (BMP) software
Definition
software solutions that help companies collect corporate knowledge, data, and business rules into a business system to improve core business processes
Term
Business process outsourcing (BPO)
Definition
an approach where an organization chooses to have some of its basic functions, often related to IT, performed by and external organization
Term
Business without boundaries
Definition
a new business model that arose from the combination of networked enterprises and globalization
Term
Customer relationship management (CRM)
Definition
employed to gather, maintain, and use data about a company's customers with the objective of improving customer satisfaction and company profitability
Term
Discrepancy reports
Definition
a way to note any differences between quantities or amounts on the purchase order, the receiving report, and the purchase invoice
Term
Economic event
Definition
those events that impact an organization's financial statements and AISs therefore record data about them in accounting transactions.
Term
Exception reports
Definition
a report that lists exceptional conditions that typically draw management's attention to a potential problem
Term
Group code
Definition
is the combination of two or more sub-codes creating a group code, which is often used as a product code in sales catalogs
Term
Mnemonic codes
Definition
designed to help the user remember what they represent
Term
Numeric codes
Definition
codes that use numbers only
Term
Offshoring
Definition
moving jobs offshore (e.g., to countries like India, China, Canada, Mexico, or Malaysia)
Term
Purchasing process
Definition
the process that begins with a request (or an order) for goods or services and ends with payment to the vendor.
Term
RFID tags
Definition
are computer chips and tiny antennas that are used to manage inventory
Term
Sales process
Definition
a process that begins with a customer order for goods or services and ends with the collection of cash from the customer
Term
Sequence code
Definition
a sequential set of numbers used to identify customer accounts, employee payroll checks, customer sales invoices, and so forth.
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