Week 6 Flashcards
(23 cards)
What are the four stages of the data processing cycle?
Data Input
Data Processing
Data Storage
Information Output
What is the purpose of source documents?
To capture transaction data at the time of the activity (e.g., invoices, POS scanners).
Name three types of coding schemes used in data storage.
Sequence codes (e.g., prenumbered invoices).
Block codes (e.g., product categories like 2000-2999 for refrigerators).
Mnemonic codes (e.g., “DRY300W05” for a dryer model).
What does CRUD stand for in data processing?
Create, Read, Update, Delete.
What is an audit trail?
Master: Permanent data (e.g., customer details).
Transaction: Temporary data (e.g., daily sales).
What are turnaround documents?
Computer-generated documents used for data entry (e.g., inventory stock cards).
How does batch processing differ from real-time processing?
Batch: Processed at intervals (e.g., end of day).
Real-time: Processed immediately.
What are key features of small business accounting software?
Bookkeeping, financial statements, scalability (e.g., QuickBooks, MYOB).
Name two examples of midrange accounting software.
Microsoft Dynamics GP, SAP Business One.
What industries require specialized AIS?
Healthcare, nonprofits, construction, banking (e.g., needs like third-party billing or fund tracking).
What is a vertical market?
A niche industry with unique needs (e.g., healthcare’s patient data security).
Why do nonprofits need specialized AIS?
To track funds, manage volunteers, and comply with nonmonetary reporting requirements.
What software feature is critical for healthcare AIS?
Secure patient data management and standardized service codes for billing.
What does ERP stand for, and what does it integrate?
Enterprise Resource Planning. Integrates revenue, expenditure, production, HR, and reporting cycles.
Name three ERP software examples.
SAP, Oracle, Microsoft Dynamics AX.
What are two advantages of ERP?
Centralized data repository.
Standardized processes and automation.
What are two disadvantages of ERP?
High implementation costs.
Employee resistance due to complexity.
What is the typical ROI timeline for ERP systems?
2-4 years
How does ERP improve data redundancy?
By capturing data once (e.g., customer details shared across sales and accounting).
What percentage of the ERP market does SAP hold?
24%
Which software suits a Fortune 1000 company?
High-end ERP (e.g., SAP, Oracle) costing $500,000+ million.
What is the cost range for entry-level accounting software?
Free–$1,000 (e.g., MYOB, QuickBooks).
What software is used for over 100 users?
Basic enterprise systems (e.g., Sage MAS 500 ERP, Microsoft Dynamics AX).
