Exam (elaborations)
Overview of Transaction Processing and ERP Systems (2) (1)
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- Chapter 5: Time Value Of Money
Overview of Transaction Processing and ERP Systems (2) (1)
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Overview of Transaction Processing and ERPSystems (2)
data processing cycle - ANS-the four operations (data input, data storage, data processing, and
information output) performed on data to generate meaningful and relevant information
source documents - ANS-documents used to capture transaction data at its source - when the
transaction takes place. Ex. include sales orders, purchase orders, and employee time cards
turnaround documents - ANS-records of company data sent to an external party and then
returned to the system as input. Turnaround documents are in machine-readable form to
facilitate their subsequent processing as input records. Ex. Utility bill
source data automation - ANS-the collection of transaction data in machine-readable form at the
time and place of origin. ex, point of sale terminal and ATM's
general ledger - ANS-a ledger that contains summary-level data for every asset, liability, equity,
revenue, and expense account of the organization
control account - ANS-a title given to a general ledger account that summarizes the total
amounts recorded in a subsidiary ledger. Ex. The A/R control account in the general ledger
represents the total amount owed by all customers. The balances in the A/R subsidiary ledger
indicate the amount owed by each specific customer
coding - ANS-the systematic assignment of numbers or letters to items to classify and organize
them
sequence code - ANS-Items are numbers consecutively so that gaps in the sequence code
indicate missing items that should be investigated. ex. include prenumbered checks, invoices,
and purchase orders
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. a group code
is often used in conjunction with a block code
mnemonic code - ANS-letters and numbers that are interspersed to identity an item. the
mnemonic code is derived from the description of the item and it usually easy to memorize
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