Term
| Activity-based costing systems |
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Definition
| help managers in describing processes, identifying cost drivers of each process, and the determining the unit costs of products associated with drivers |
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Term
| Business process re-engineering (BPR) |
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Definition
| techniques used by organizations to redesign their business processes from scratch |
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Term
| Business process management software |
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Definition
| software solutions that help companies collect corporate knowledge, data, and business rules into a business system to improve core business processes. |
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Term
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Definition
| a systematic approach to introducing dynamic change or disruption in an organization |
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Term
| Cost accounting subsystems |
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Definition
| generally associated with manufacturing firms, this subsystem prvides important control information (such as variance reports) and is usually either job costing or process costing. |
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Term
| Electronic funds transfer (EFT) |
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Definition
| a cash management technique whereby the transfer of funds is electronic or computer-to-computer |
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Term
| Enterprise asset management (EAM) |
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Definition
| a means of automating the management of a broad spectrum of assets |
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Term
| Financial planning models |
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Definition
| information systems that aid financial managers in selecting an optimum strategy for acquiring and investing financial resources |
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Term
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Definition
| the process by which a company acquires and uses resources such as cash, other liquid assets, and investments. |
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Term
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Definition
| management if the purchase, maintenance, valuation, and disposal of an organization's fixed assets |
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Term
| Human resource management |
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Definition
| an activity of an organization that includes the personnel function and the payroll function |
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Term
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Definition
| an inventory system whose objective is to minimize inventories at all levels of production |
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Term
| Job costing information systems |
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Definition
| a system of costing that keeps track of the specific costs for raw materials, labor and overhead associated with each product or group of products |
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Term
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Definition
| performance measurement systems used in lean manufacturing |
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Term
| Lean production/manufacturing |
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Definition
| the concept that a company makes the commitment to eliminate waste throughout the organization (not just in production) |
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Term
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Definition
| a tool used by a company to reduce the float period during which checks clear the bank |
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Term
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Definition
| eliminated or reduced to improve overall customer value and to increase the profitability of the products or services that the organizations offers. |
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Term
| Payroll processing information systems |
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Definition
| a means of paying employees for tehir work, maintaining employee earnings records, complying with government tax and reporting requirements, reporting on various deduction categories, and interacting with other personnel functions |
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Term
| Process costing information systems |
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Definition
| a system that uses averages to calculate the costs associated with goods in process and finished goods produced |
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Term
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Definition
| instead of billing the client, they bill insurance companies or government agencies who in turn reimburse these service providers |
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Term
| Time and billing information systems |
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Definition
| similar to jog order costing systems, tracking hours and costs associated with each job (i.e., each client) and each employee (i.e., professional staff) |
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Term
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Definition
| a management process that controls activities that generate value in a product or service rather than by functional area. |
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Term
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Definition
| markets or industries that are distinct in terms of the services they provide or the goods they produce |
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