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26 Cards in this Set

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General Ledger

Contains summary-level data for every asset, liability, equity, revenue, and expense account.

Subsidiary Ledger

Contains detailed data for any general ledger account with many individual sub accounts.




ex: Accounts Receivable is all receivable accounts, while the subsidiary would be for one specific customer.

Control Account

The general ledger account corresponding to a subsidiary ledger.

Coding

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

Sequence Code

Items are numbered consecutively to account for all items.

Block Code

Blocks of numbers are reserved for specific categories of data.

Group Codes

Two or more subgroups of digits used to code items.


Often used in conjunction with block codes.

Mnemonic Codes

Letters and numbers are interspersed to identify an item.

Guidelines for better coding

1) Be consistent with its intended use


2) Allow for growth


3) Be as simple as possible to minimize costs


4) Be consistent with the company's organizational structure and across the company's divisions

Chart of Accounts

A list of numbers assigned to each general ledger account.

General Journal

Used to record infrequent or non-routine transactions, such as loan payments and end-of-period transactions and closing entries.

Specialized Journal

Records large numbers of repetitive transactions such as sales, cash receipts, and cash disbursements.

Audit Trail

A traceable path of a transaction through a data processing system from point of origin too final output, or backwards from final output to point of origin.

Entity

Something about which information is stored, such as employees, inventory items, and customers.

Attributes

Each entity has attributes, or characteristics of interest, that are stored, such as a pay rate and address.

Field

Computers store data in a field.

Record

The fields containing data about entity attributes constitute a record.

File

Group of related records

Master File

Like a ledger in a manual AIS, stores cumulative information about an organization.

Transaction File

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

Batch Processing

Updating done periodically (ex. daily)

Online, Real-time processing

Most companies update each transaction as it occurs, referred to online, real-time processing because it ensures that stored information is always current, thereby increasing its decision-making usefulness.

Documents

Records of transaction or other company data

Reports

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

Database Query

Used to provide the information needed to deal with problems and questions that need rapid action or answers.

Enterprise Resource Planning (ERP) Systems

Integrates all aspects of a company's operations with a traditional AIS.