chapt ii -acctg information systems

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06/22/2022 1 AKKAPEDDI_SRI QUIZLET Data Processing Cycle The operations performed on data to generate meaningful and relevant information. It has four stages: data input, data storage,

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Page 1: Chapt ii -Acctg Information systems

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AKKAPEDDI_SRI QUIZLET Data Processing Cycle

The operations performed on data to generate meaningful and relevant information. It has four stages: data input, data storage, data processing, and information output.

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• Source Documents• Contain the initial record of a

transaction that takes place. Examples which are usually recorded on preprinted forms, include sales invoices, purchase orders, and employee time cards.

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Turnaround Documentsrecords of company data sent to an external party and then returned to the system as input. When paper documents are exchanged with customers or suppliers, data input accuracy and efficiency are improved by turnaround documents which are prepared in machine readable form to facilitate their subsequent processing as input records. i.e. utility bill

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Source Data AutomationThe collection of transaction data in machine readable form at the time and place of origin. Example: optical scanners and ATMs.

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General LedgerContains summary-level data for every asset, liability, equity, revenue, and expense account

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Subsidiary ledgerContains detailed data for any general ledger account with many individual subaccounts

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Control AccountA general ledger account that summarizes the content of a specific subsidiary ledger.

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CodingThe systematic assignment of numbers or letters to items to classify and organize them.

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Sequence CodesItems are numbered consecutively to account for all items

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Block CodeBlocks of numbers are reserved for specific categories of data.

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Group CodesTwo or more subgroups of digits used to code items, are often used in conjunction with block codes Ex. p49

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Mnemonic CodesLetter and numbers are interspersed to identify an item

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Chart of AccountsList of accounts used by a company; includes an identification number for each account.

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General JournalUsed to record infrequent or non routine transactions, such as loan payments and end-of-period adjusting and closing entries

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Audit TrailA traceable 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.

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EntitySomething about which information is stored.

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AttributesCharacteristics of interest about an entity

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FieldContain data about entity attributes...constitutes a record

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Transaction FileContains records of individual business transactions that occur during a specific time.

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DatabaseA set of interrelated, centrally coordinated files

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Batch ProcessingUpdating done periodically, such as daily

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Online, Real-Time ProcessingEnsures that stored info is always current, thereby increasing its decision-making usefulness.

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DocumentsRecords of transaction or other company data

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ReportsUsed by employees to control operational activities and by managers to make decisions and to formulate business strategies

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QueryUsed to provide the info needed to deal with problems and questions that need rapid actions or answers

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Enterprise Resource Planning (ERP) SystemsThey integrate all aspects of a company's operations with a traditional AIS.

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