Term
| Term: Supports business activities throughout the enterprise by processing inputs into outputs |
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Definition
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Term
| What are five different enterprise systems? |
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Definition
1. Accounting System
2. SCM
3. OPS
4. HRM
5. CRM |
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Term
| Term: Enterprise system that shares data across functional areas within the enterprise |
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Definition
| Integrated enterprise system |
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Term
| Term: Helps managers plan and control organizational resources by integrating information flows |
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Definition
| Enterprise Resource Planning (ERP) |
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Term
| True/False: Enterprise system users are only internal |
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Definition
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Term
| Term: Related activities performed by an enterprise to create value by transforming input to output |
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Definition
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Term
| Define: Coordinates activities between suppliers and customers |
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Definition
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Term
| Why is the accounting system unique? |
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Definition
| It spans the entire value chain |
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Term
| Term: Accounting transactions related to specific business processes |
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Definition
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Term
| What are the three parts of the transaction cycle? |
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Definition
1. Purchasing cycle
2. Payroll cycle
3. Sales cycle |
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Term
| Term: Model providing an enterprise-wide view of the firm's accounting |
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Definition
| Baseline accounting system |
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Term
| What are the 6 modules of a baseline accounting system? |
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Definition
1. Customers module
2. Vendors module
3. Banking module
4. Reporting module
5. Financial module
6. Employees module |
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Term
| What are the different types of output? |
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Definition
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Term
| What are the different types of controls? |
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Definition
Preventative vs. detective
General vs. application |
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Term
| What are the 10 types of application controls? |
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Definition
-Limit check
-Field check
-Zero-balance check
-Validity check
-Completeness check
-Reasonableness check
-Closed-loop verification check
-Size check
-Sign check |
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Term
| What are three types of detective controls? (3Rs) |
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Definition
-Reconciliation
-Report
-Review |
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Term
| What are the four steps of the purchasing cycle? |
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Definition
1. Create purchase order
2. Receive items
3. Enter bills
4. Pay bills |
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Term
| What are the three steps of the sale cycle? |
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Definition
1. Create invoices
2. Receive customer payments
3. Make deposits at bank |
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Term
| What are the four steps of the payroll cycle? |
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Definition
1. Enter employee times
2. Calculate payroll
3. Pay employees
4. Pay payroll liabilities |
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Term
| What is the GR/IR account? |
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Definition
| Goods Receipt/Invoice Receipt account; allows companies to keep track of the goods that have been received but not yet paid for |
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Term
| What are the three types of data? |
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Definition
1. Master data
2. Transaction data
3. Configuration data |
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