Ch. 1-2 Intro & Transaction Processing+Erp

Front 1

specialized journal

Back 1

Used to record large numbers of repetitive transactions

Front 2

master file

Back 2

Stores cumulative information about an organization; like a ledger in a manual AIS

Front 3

turnaround documents

Back 3

Company data sent to an external party and then returned to the system as input

Front 4

batch processing

Back 4

"Updating done periodically, such as daily"

Front 5

field

Back 5

"Portion of a data record that contains the data value for a particular attribute, like a cell in a spreadsheet"

Front 6

data value

Back 6

"Contents of a specific field, such as George in a name field"

Front 7

subsidiary ledger

Back 7

Contains detailed data for any general ledger account with many individual subaccounts

Front 8

general journal

Back 8

Used to record infrequent or non-routine transactions

Front 9

general ledger

Back 9

"Contains summary-level data for every asset, liability, equity, revenue, and expense account"

Front 10

source documents

Back 10

Initial record of a transaction that takes place; usually recorded on preprinted forms or formatted screens

Front 11

control account

Back 11

"The general ledger account corresponding to a subsidiary ledger, where the sum of all subsidiary ledger entries should equal the amount in the general ledger account"

Front 12

Record

Back 12

"Fields containing data about entity attributes; like a row in a spreadsheet"

Front 13

Coding

Back 13

Systematic assignment of numbers or letters to items to classify and organize them

Front 14

block code

Back 14

Sets of numbers are reserved for specific categories of data

Front 15

mnemonic code

Back 15

"Letters and numbers, derived from the item description, are interspersed to identify items; usually easy to memorize"

Front 16

Attribute

Back 16

Characteristics of interest that need to be stored

Front 17

source data automation

Back 17

Devices that capture transaction data in machine-readable form at the time and place of their origin

Front 18

audit trail

Back 18

"Path of a transaction through a data processing system from point of origin to final output, or backwards from final output to point of origin"

Front 19

group code

Back 19

Two or more subgroups of digits are used to code items

Front 20

sequence code

Back 20

Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence

Front 21

Database

Back 21

"Set of interrelated, centrally coordinated files"

Front 22

data processing

Back 22

The steps a company must follow to efficiently and effectively process data about its transactions

Front 23

chart of accounts

Back 23

D.
"List of general ledger account numbers; allows transaction data to be coded, classified, and entered into proper accounts; facilitates preparation of financial statements and reports"

Front 24

transaction file

Back 24

Contains records of individual business transactions that occur during a specific time period

Front 25

"online, real-time processing"

Back 25

Updating each transaction as it occurs

Front 26

entity

Back 26

Something about which information is stored

Front 27

Verifiable

Back 27

Two independent, knowledgeable people product the same information.
Ex: The data on a report was checked by two clerks working independently

Front 28

Reliable

Back 28

Free from error or bias
Ex: A report checked by 3 different people for accuracy

Front 29

Accessible

Back 29

B.
Available to users when they need it and in a format they can use.
Ex: The manager was working one weekend and needed to find some information about production requests for a certain customer. He was able to find the report on the company's network.

Front 30

Relevant

Back 30

Reduces uncertainty, improves decision making, or confirms or corrects prior expectations.
Ex: An accounts receivable aging report used in credit granting decisions

Front 31

Timely

Back 31

Provided in time for decision makers to make decisions.
Ex: An accounts receivable aging report was received before the credit manager had to make a decision whether to extend customer credit

Front 32

Complete

Back 32

Does not omit important aspects of the events or activities it measures.
Ex: An accounts receivable aging report that included all customer accounts

Front 33

Understandable

Back 33

Presented in a useful and intelligible format.
Ex: The report was carefully designed so that the data contained on the report became information to the reader

Front 34

Revenue Cycle

Back 34

where goods and services are sold for cash or a future promise to receive cash.

Front 35

Expenditure cycle

Back 35

Where companies purchase inventory for resale or raw materials to use in producing products in exchange for cash or a future promise to pay cash.

Front 36

Production or conversion cycle

Back 36

Where raw materials are transformed into finished goods

Front 37

Human resources/payroll cycle

Back 37

Where employees are hired, trained, compensated, evaluated, promoted, and terminated.

Front 38

Financing Cycle

Back 38

Where companies sell shares in the company to investors and borrow money and where investors are paid dividends and interest is paid on loans.

Front 39

System

Back 39

Set of two or more interrelated components that interact to achieve a goal.

Front 40

Goal Conflict

Back 40

A subsystem is inconsistent with the goals of another subsystem or with the system as a whole.

Front 41

Goal Congruence

Back 41

Occurs when a subsystem achieves its goals while contributing to the organization's overall goal.

Front 42

Data

Back 42

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

Front 43

Enterprise Resource planning (ERP) Systems

Back 43

Integrate all aspects of a company's operations with a traditional AIS. The system collects, processes and stores data and provides the information managers and external parties need to assess the company.