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AIS Chapter 2_ Overview of Transaction Processing and Enterprise Resource Planning Systems (1)
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AIS Chapter 2_ Overview of Transaction Processing and Enterprise Resource Planning Systems (1)

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  • July 19, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
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  • ais chapter 2 overview of transaction processing

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AIS Chapter 2: Overview of Transaction Processing
and Enterprise Resource Planning Systems
General Ledger - ANS-A ledger that contains summary-level data for every asset, liability,
equity, revenue, and expense account of the organization.

Subsidiary Ledger - ANS-A ledger used to record detailed data for a general ledger account with
many individual subaccounts, such as A/R, inventory, and A/P.

Control Account - ANS-General ledger account that summarizes the total amounts recorded in a
subsidiary ledger.

Coding - ANS-The systematic assignment of numbers or letters to items to classify and organize
them.

Sequence Codes - ANS-Items that are numbered consecutively so that gaps in the sequence
code indicate missing items that should be investigated.

Block Code - ANS-Blocks of numbers that are reserved for specific categories of data, thereby
helping to organize the data. (ex: chart of accounts)

Group Code - ANS-Two or more subgroups of digits that are used to code an item. Often used
in conjunction w/ a block code.

Mnemonic Code - ANS-Letters and numbers that are interspersed to identify an item. Derived
from the description of the item and is usually easy to memorize.

Chart of Accounts - ANS-A listing of all of the numbers assigned to balance sheet and income
statement accounts. The account numbers allow transaction data to be coded, classified, and
entered into the proper accounts. They also facilitate financial statement and report preparation.

General Journal - ANS-A journal used to record infrequent or nonroutine transactions, such as
loan payments and end-of-period adjusting and closing entries.

Specialized Journals - ANS-A journal used to record a large number of repetitive transactions
such as credit sales, cash receipts, purchases, and cash disbursements.

Audit Trail - ANS-A path that allows a transaction to be traced through a data processing system
from point of output to point of origin. It is used to check the accuracy and validity of ledger
postings and to trace changes in general ledger accounts from their beginning balance to their
ending balance.

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