Actg 474 Exam 1

Front 1

a set of two or more interrelated components that interact to achieve a goes

Back 1

system

Front 2

used in systems development, changes in substems cannnot be made without considering the effect on other subsystems and the systmeas a whole

Back 2

systmes concepts

Front 3

occurs when a decision or action of a subsystem is inconsistent with annother subsysm or the system as a whole

Back 3

goal conflict

Front 4

achieved when a subsystem achieves its goals while contributing to the organizations overall goal

Back 4

goal congruence

Front 5

eliminating duplicate recording, storage, reporting, and other processing activities in an organization

Back 5

integration

Front 6

facts that are collected, recorded, stored, and processed by an information system

Back 6

Data

Front 7

data that have b een organized and processed to provide meaning to a user

Back 7

information

Front 8

occurs when human mind limit of data

Back 8

information overload

Front 9

benefit produced by the information minus the cost of producing it

Back 9

value of information

Front 10

required governmental entity

Back 10

mandatory information

Front 11

required to conduct business with external parties

Back 11

essential information

Front 12

internal information

Back 12

discretionary information

Front 13

a system that collects, records, stores, and processes data to produce information for decision makers

Back 13

Accounting information system (AIS)

Front 14

six components of AIS

Back 14

people
procedures
data
software
inforamtiion technolgy
internal controls

Front 15

3 essential concepts

Back 15

use of information
design
financial information reporting

Front 16

repetitive, routine, and understood well enough that they can be delegated to lower-level employees in the organisation

Back 16

structured decisions

Front 17

characterized by incomplete decision making rules and the need for subjective assessments and judgments to supplement formal data analysis

Back 17

semi-structured decisions

Front 18

are nonrecurring and non routine

Back 18

unstructured decision

Front 19

relates to effective and efficient performance of specific tasks

Back 19

Operational control

Front 20

relates to effective and effiecenient use of resources for accomplishing organizational objectives

Back 20

management control

Front 21

relates to establishing organizational objectives and policies for accomplishing those objectives

Back 21

strategic planning

Front 22

is an agreement between two entities to exchange goods or services or any other event that can measured

Back 22

transaction

Front 23

the process that begins with capturing transaction data and ends with an informational output such as the the financial statements

Back 23

transaction processing

Front 24

Five major transaction cycles

Back 24

revenues cycle
expenditure cycle
production cycle
human resources/payroll cycle
financing cycle

Front 25

used to general information for both mangemtn and external parties

Back 25

general ledger and reporting system

Front 26

The operations performed on data to generate meaningful and relevant information

Back 26

data processing cycle

Front 27

contain the initial record of a transaction

Back 27

source documents

Front 28

a document, readable by humans, that is prepared by the computer as output, sent outside the system and then returned as input into the computer

Back 28

turnaround documents

Front 29

the collection of transaction data in machine-readable form at the time and place of orgin

Back 29

source data automation

Front 30

contains summary level data for every asset, liability, equity, revenue, and expense account of the organization

Back 30

general ledger

Front 31

used to record the detailed data for any general ledger account that has many individual sub-accounts.

Back 31

subsidiary ledger

Front 32

the general ledger account that summarizes the total amounts recorded in the subsidiary ledger.

Back 32

control account

Front 33

assigning numbers letters or other symbols according to a systematic plan so that a user can determine the classifications to which a particular item belongs

Back 33

coding

Front 34

a coding scheme where items are numered consecutively to ensure that there will be no gaps

Back 34

sequence codes

Front 35

a type of coding system that reserves blocks of numbers within a numerical sequence for categories having meaning to the user

Back 35

block code

Front 36

two or more subgroups of digits that are used to code an item.

Back 36

group code

Front 37

a listing of all balance sheet and income statement account number codes for a particular company`

Back 37

chart of accounts

Front 38

is used to record infrequent or nonroutine transactions

Back 38

general journal

Front 39

are used to simplify the process of recording large numbers of repetitive transactions

Back 39

specialized journal

Front 40

a traceable path of a transaction through a data processing systemfrom source documents to final output

Back 40

audit trail

Front 41

the item about which information is stored in a record

Back 41

entity

Front 42

characteristics of interest in a file or database

Back 42

attribute

Front 43

the part of a data record that contains the data value for a particular attribute.

Back 43

field

Front 44

a set of logically related data items that describer specific attributes of an entity

Back 44

record

Front 45

the actual value stored in a field. It describes a particular attribute of an entity

Back 45

data value

Front 46

set of logically related records

Back 46

file

Front 47

a permanent file of records that reflects the current status of relevant business items such as inventory and accounts rec.

Back 47

master file

Front 48

a relatively temprary data file containing transaction data that are typically used to update a master file

Back 48

transaction file

Front 49

a set of interrelated, centrally controlled data files that are stored with as little data redundancy as possible

Back 49

database

Front 50

processing indiviudal transaction as they occur and from their point of orgin rather than accumulating them to be processed in batches

Back 50

on-line, real time processing

Front 51

reccords of transaction or other company data such as checks, invoices, receiving reports, and purchase requestion

Back 51

document

Front 52

a request for specific information from a computer

Back 52

query

Front 53

the formal expression of goals in financial terms.

Back 53

budget

Front 54

a budget that shows projected cah inflows and out flows.

Back 54

cash budget

Front 55

Lists the budgeted and actual amounts of revenue s and expenses and also shows the variances or differences between these two amounts

Back 55

performance reports

Front 56

a system that intergrates all apsects of an organizations activities into one accounting information system

Back 56

enterprise resource planning systems

Front 57

written material consisting of instructions to operators,l descripitons of procedures, and other descripttive material

Back 57

documentation

Front 58

written step by step explanation of system processes and how the processes interact

Back 58

narrative description

Front 59

a diagram that concentrates on idenfying the typers of data and their flow through various typers of processing

Back 59

data flow diagram

Front 60

a component of a data flow diagram that represents a source of data outside the system being modeled

Back 60

data source

Front 61

a component of data flow diagrams that represents an entity outside of the system who receives data produced by the system

Back 61

data destination

Front 62

a component of a data flow diagram that represents a piece of data flowing into or out of a proccess

Back 62

data flow

Front 63

a set of actions automated or manual that transform data into other data or information

Back 63

process

Front 64

a component of a data flow diagram that represents the storage of data within a system

Back 64

data store

Front 65

the highest level of a data flow diagram, provides a summary level view of a sysstem

Back 65

context diagram

Front 66

a diagrammatical representation of the flow of information and the sequence of operations in a process or system

Back 66

flowchart

Front 67

a piece of hard, flexible plastic on which the shapes of flowcharting symbols have been diecut

Back 67

flowcharting template

Front 68

a diagram illustratijng the flow of documents through the different department and functions of an organization

Back 68

document flowchart

Front 69

a document flowchart particularly useful in analysing the control strengths and weakness in an information system

Back 69

internal control flowchart

Front 70

a diagrammatical representation that shows the flow of data through a series of operations in an automated data prcessing system

Back 70

system flowchart

Front 71

a diagrammatical representation of the logic and sequence of processes used in a computer program

Back 71

program flowchart

Front 72

potential losses to an organization arising from hazards such as embezzlement

Back 72

threat

Front 73

a measure of risk derived by multiplying the potential magnitude of an error in dollars by the errors estimated requency of occurance

Back 73

exposure

Front 74

the probability that a threat to an AIS will come to pass

Back 74

likelihood

Front 75

controls within a business organization that ensure information is processed correctly

Back 75

internal control

Front 76

a control system that places restrictions on and requires documentation of employee activities so as to reduce the occurrence of errors and deviations.

Back 76

preventive control

Front 77

controls designed to discover control problesm soon after they arise

Back 77

detective control

Front 78

procedures establsied to remedy problems that asre discovered through detective controls

Back 78

corrective control

Front 79

controls that relate to the data input files programs and output of a specifc computer application rather than the comput system in general.

Back 79

application control

Front 80

Among other things a law that requirs all publicly owned corps subject to the SEA of 1934 to keep detailed records and maintian internal accounting control system

Back 80

Foreign Corrupt Practices Act

Front 81

a corporate attitude instilled in employees by upper management

Back 81

belief system

Front 82

a system that helps employees act ethically by setting limits behond which an employee must not pass

Back 82

boundary system

Front 83

a performance measuremnt system that compares actural performance to planned performance

Back 83

diagnostic control system

Front 84

A system that helps top level mangers with high level activities that demand frequent and regular attention such as developing company strategy, setting compnay objectives, ectc

Back 84

interactive control system

Front 85

A framwork of generally applicable information systems security and control practices for IT control.

Back 85

control objectives for Information and related technolgy

Front 86

A private sector group consisting of the american accounting association, and others

Back 86

committee of sponsoring organizations

Front 87

a framework created by coso that deines internal controls as well as provides guidance for evaluating and enhancing internal control systems

Back 87

internal control integrated framework

Front 88

a framework prducsced by COSO tghatg expands on tghe elements of the internal control interagrated framwork and provides an all emcompassing focus on the broader subject of enterpricse risk managment

Back 88

Enterprise Risk Managment

Front 89

high level goals that are aligned with and support the companys mission

Back 89

Strategic objective

Front 90

objectives that deal with the effectiveness and efficiency of company operations

Back 90

operations objective

Front 91

objectives to help ensure the accuracy completeness and reliability and external company reports

Back 91

reporting objective

Front 92

company objectives that help the company comply with all applicable laws and regulations

Back 92

compliance objective

Front 93

controls within a business organization that ensure information is process correctly

Back 93

internal environment

Front 94

the amount of risk a company willing to accept in order to achieve its goals and objectives

Back 94

risk appetite

Front 95

the committe respinsible for overseeing a corporations internal control structure financial reporting process and compliance with related laws and regulations.

Back 95

audit committee

Front 96

a management tool for assigning authority and responsibility.

Back 96

policy and procedures manual

Front 97

an investiagation of persons background

Back 97

background check

Front 98

In the REA data model, the various business activities about which mangemnt want to collect information

Back 98

event

Front 99

the susceptible of a set of accounts or transactions to significant control problems in the absence of internal control

Back 99

inherent risk

Front 100

the risk that remains after managment implements internal controls or some toehr form of repsnse to risk

Back 100

residual risk

Front 101

a measure of loss based on the potential loss assoctited with a control problem and the risk or probabilty that the problem will occure

Back 101

expected loss

Front 102

policies procedures and rules that provide reasonable assurance that mangments control objective are met and thier risk responses are crried out

Back 102

control activities

Front 103

the empowerment of an emplyee to perform certain functions

Back 103

authorization

Front 104

a piece of data signed on a document by a computer

Back 104

digital signature