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20 Cards in this Set
- Front
- Back
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What is the overriding idea behind the Generic Process?
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Internal Controls
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What 4 things fit under Internal Controls?
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Input, Process, Output, Storage
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What are the inputs to the AIS Process?
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Source Documents
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What happens to the Source Docs after they go to process?
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They are filed
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What are the 3 items under Transaction Processing Systems?
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Journal then Ledger then Trial Balance
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BIS?
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Business Information System
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TPS?
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Transaction Process System
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DSS?
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Decision Support System (Database System)
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MIS?
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Mgmt Information System (only available to managers)
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EIS
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Executive IS (only available to managers)
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What are AIS designed for?
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collect data, process data, then report data
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AIS is only implemented when...
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...the benefits of the Data, Process and Info is greater than the cost of implementation
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What is the accounting cycle?
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Obtain Source Docs, Analyze Transactions, Record Transaction in Journal, Post from Journal to Ledger, Unadjusted Trial Balance, Record Adjusting Entries, Adjusted Trial Balance, Prepare Financial Statements, Record Closing Entries, Post-Closing Trial Balance
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What do Coding systems do?
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Record, Classify, Store, Retrieve
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Purposes of Coding systems?
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Uniquely Identify Transactions and Accounts, Compress Data, Aid in the Classification Process, Convey Special Meanings
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Types of Coding Systems
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Mnemonic Codes, Sequential Codes, Block Codes, Group Codes
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Mnemonic Codes
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Give visible includes concerning the objects they represent
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Sequential
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Assign numbers or letters in consecutive order
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Block Codes
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Sequential Codes in which specific blocks of numbers are reserved for particular uses - course number
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Group Code
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More Sophisticated form of coding
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