Accounting 3600 Chapter 2

Front 1

data processing cycle

Back 1

operations performed on data to transform into meaningful/useful information

Front 2

data processing cycle 4 components

Back 2

1) data input
2) data storage
3) data processing
4) information output

Front 3

data input

Back 3

collect data about 1) events 2) resources 3) agents; collected using source documents

Front 4

turnaround documents

Back 4

records of company data sent to an external party then returned to system as input; machine readable form

Front 5

source data automation

Back 5

devices that capture transaction data in machine readable data at time/place of origin ex: ATM

Front 6

ledger

Back 6

file that stores cumulative data about resources and agents ex: t account

Front 7

general ledger

Back 7

summary level data, does not contain detailed information on account balances

Front 8

subsidiary ledger

Back 8

detailed data about one specific account the appears in the general ledger

Front 9

control account

Back 9

general ledger account corresponding to a subsidiary ledger

Front 10

coding

Back 10

systematic assignment of letters/#s to data items to classify/organize

Front 11

sequential coding

Back 11

data items numbered consecutively

Front 12

block coding

Back 12

blocks of #s reserved for specific categories

Front 13

group coding

Back 13

2(+) subgroups within a block are used to describe characteristics of the data item; used in conjunction with block coding

Front 14

chart of accounts

Back 14

a group coding example; list of all financial statement accounts with assigned descriptive #s

Front 15

general journals

Back 15

1) non routine transactions
2) summary entries from special journals
3) adjusting entries
4) closing entries

Front 16

special jurnals

Back 16

used to record repetitive and routine transactions

Front 17

audit trail

Back 17

posting references and document numbers that can check the validity of ledger postings

Front 18

entity

Back 18

something about which we collect and store data

Front 19

attributes

Back 19

characteristics of interest with resect to entities

Front 20

field

Back 20

actual physical space where attributes are stored

Front 21

record

Back 21

set of fields that contain the attributes about one entity

Front 22

file

Back 22

group of related records

Front 23

master file

Back 23

contains data relevant to company across fiscal years

Front 24

transaction file

Back 24

contain transactions that occur during a fiscal year

Front 25

database

Back 25

set of interrelated centrally coordinated files

Front 26

data processing 4 activities

Back 26

1) creating
2) reading
3) updating*
4) deleting

Front 27

batch processing/updating

Back 27

periodic updating a specific point in time

Front 28

online real time processing

Back 28

update system with new transactions immediately

Front 29

information output documents

Back 29

records of company transactions ex: source documents, operational documents

Front 30

operational documents

Back 30

documents generated at the end of the process

Front 31

source documents

Back 31

records of transactions, generated at the beginning of the process

Front 32

reports

Back 32

given to the internal/external decision makers ex: financial statements and management reports

Front 33

query results

Back 33

answer to a question asked of a database