Ais

Front 1

What is a System?

Back 1

Framework to collect, process, control, manage data in order to provide information

Front 2

Overview of a system (how it works)

Back 2

Data event creates imput. That imput is processed, managed and stored, and that processing creates output called information.

Front 3

Define AIS

Back 3

A structure that employs physical resources and components to collect, store, and transform economic data into accounting information for external and internal users

Front 4

Name the six interrelated components for achieving goals using AIS

Back 4

1 People who operate the system and perform functions. 2 Procedures and instructions involved in collecting, processing and storing data. 3 Data about the organization. 4 Software used to process the organization's data 5 IT infrastructure. 6 Internal controls and security

Front 5

What are the three goals of AIS?

Back 5

1 Collect and store data about an organization. 2. Transform data into information that is useful for making decisions. 3 Provide adequate controls to safeguard the organization's assets

Front 6

Name the 8 entities that a firm interacts with

Back 6

Vendors, Customers, investors, creditors, banks, employees, management, government agencies

Front 7

Name the three reasons why we have AIS

Back 7

External reporting and stewardship reporting, to support day to day business, and for internal decision making for planning and control

Front 8

Name 5 primary value chain activities that are aided by AIS

Back 8

Inbound Logistics (receiving and storing); Operations (manufacturing); outbound logistics (distribution and shipping), Marketing and selling; service (repairing)

Front 9

Name the depts of a firm that are supported by AIS

Back 9

Accounting, Finance, Legal, General admin, HR, IT, Purchasing

Front 10

Name the outside entity associated with the expendure cycle

Back 10

Vendors

Front 11

Name three outside entities associated with the financing cycle

Back 11

Investors, Creditors, Banks

Front 12

Name the outside entity associated with the revenue cycle

Back 12

Customer

Front 13

Name the outside entity associated with the payroll/hr cycle

Back 13

employees

Front 14

Name the two outside entities associated with the GL/reporting and the transaction cycles

Back 14

Government, Managers

Front 15

Name the INTERNAL systems associated with the production cycle

Back 15

AIS and Other systems

Front 16

What are the transaction events for the revenue cycle

Back 16

Sales and cash receipt events

Front 17

What are the transaction events for the expenditure cycle

Back 17

purchases and cash disbursement events

Front 18

What are the four steps of transaction processing

Back 18

1 record the data 2 store the data 3 process the data 4 prepare reports (output info)

Front 19

Input data is related to what three things?

Back 19

Resources affected by each activity; the event (activity), and the agents (people) involved in each activity

Front 20

Name three types of sources of data for data input

Back 20

Source documents, turnaround documents, source data automation - caputre data in machine readable form (barcodes)

Front 21

What are turnaround documents and give an example

Back 21

records of a company data sent to an external party and then returned to the system as input. (Utility bill)

Front 22

Name five special forms, coding and summation processes developed for data storage

Back 22

Ledgers, Coting techniques, Charts of Accounts, journals, audit trails

Front 23

Name for types of data processing.

Back 23

1) creating/adding 2)reviewing 3) updating previously stored data (batch processing) 4) deleting (purging)

Front 24

What are the 4 financial statements for information output

Back 24

Balance sheet, Income statement, statement of cash flows, statement of owners equity

Front 25

What are stewardship reports?

Back 25

Required reports like tax returns & payroll filings

Front 26

What are the three types of managerial information reports for information output

Back 26

Operational documents (for day to day activities); planning/decision making reports (helps managment make decisions; Control reports (used to monitor performance)

Front 27

Accounting transactions are made only in what journal?

Back 27

General Journal

Front 28

Name the four special journals?

Back 28

Cash recepts, Sales, Purchasing, Cash Dispursments

Front 29

What is the purpose of special journals?

Back 29

To make recording large number of repetitive transactions more efficient

Front 30

What is the general ledger?

Back 30

A listing of accounts and a summary level of data to determine their balances

Front 31

What's a subsidiary ledger?

Back 31

A listing of the components of an account (control account) and their balances.

Front 32

What is a control account?

Back 32

The general ledger account that corresponds to a subsidiary ledger

Front 33

What are the three trial balances called

Back 33

Unadjusted trial balance, adjusted trial balance, post-closing trial balance.

Front 34

What is a mnemonic code?

Back 34

gives visible clues concerning the objects they represent

Front 35

Sequence codes?

Back 35

Assign numbers or letters in consecutive order

Front 36

Block codes?

Back 36

assign a series of numbers within a sequence catagories having common features and meaning for user

Front 37

Group codes?

Back 37

reveal two or more dimensions or facets pertaining to an object. Allows users to group/summarize infor by one or more groups.