ACC200 Ch2 Set 2 Flashcards Preview

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Flashcards in ACC200 Ch2 Set 2 Deck (20):
1

Mnemonic codes

letters & numbers are interspersed to identify an item. The mnemonic code is derived from the description of the item & is usually easy to memorise

2

Guidelines that result in a better coding system?

- be consistent with its intended use, which requires that a code designer determine desired system outputs prior to selecting the code - allow for growth - be as simple as possible to minimise costs, facilitate memorisation & interpretation, & ensure employee acceptance - be consistent with a company's organisational structure & across a company's divisions

3

Chart of accounts

a list of numbers assigned to each general ledger account. - a great example of coding

4

General journal

used to record infrequent or non-routine transactions, such as loan patents & end-of-period adjusting & closing entries

5

Specialised journal

records large numbers of repetitive transactions such as sales, cash receipts & cash payments

6

Audit trail

a 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. 

7

Entity

something about which data is stored, such as employees, inventory items & customers

8

Attributes

each entity has attributes or characteristics of interest, that are stored, such as pay rate & address. Each type of entity possess the same set of attributes. 

9

Field

computers store data in a field

10

Data value

Specification for values of data elements comprising a database , prescribed to ensure data consistency. Is a field within a record.

11

File

a group of related records

12

Master file

like a ledger in a manual AIS, stores cumulative data about an organisation. Inventory & equipment master files store data about important organisational resources. Customer, supplier & employee master files store data about important agents with whom an organisation interacts. Permanent; they exist across fiscal or accounting periods. Individual master file records may change frequently

13

Transaction file

contains records of individual business transactions that occur during a specific time. Not permanent & may not be needed beyond the fiscal period. They are usually maintained for a specified period for backup purposes, as well as for audit & tax investigations. 

14

Database

a set of interrelated, centrally coordinated files

15

Four different types of data processing activities?

CRUD: Creating Reading Updating Deleting

16

CRUD?

1) Creating new data records 2) Reading, retrieving or viewing existing data 3) Updating previously stored data 4) Deleting data

17

Batch processing

updating done periodically, such as daily

18

Online processing / realtime processing

most companies update each transaction as it occurs. It ensures that stored data in master files are always current, thereby increasing it's decision-making usefulness. It is also more accurate because data input errors can be corrected in real time or refused. 

19

Information is usually presented in one of the three forms?

- document - report - query response

20

Documents

records of transaction or other company data