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26 terms

Accounting IS Chapter 3

General Journal
Contains summary-level data for every asset, liability, equity, revenue, and expense account
Sequence Code
Items are numbered consecutively to account for all items; missing items cause a gap in the numerical sequence
Audit Trail
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
Charts of Account
List of general ledger account numbers; allows transaction data to be coded, classified, and entered into proper accounts; facilitates preparation of financial statements and reports
Data Value
Contents of a specific field, such as "George" in a name field
Portion of a data record that contains the data value for a particular attribute, like a cell in a spreadsheet
Turnaround Document
Company data sent to an external party and then returned to the system as input
General Journal
Used to record infrequent or non-routine transactions
Characteristics of interest that need to be stored
Data Processing Cycle
The steps a company must follow to efficiently and effectively process data about its transactions
Something about which information is stored
Master File
Stores cumulative information about an organization; like a ledger in a manual AIS.
Subsidiary Ledger
Contains detailed data for any general ledger account with many individual subaccounts
Transaction File
Contains records of individual business transactions that occur during a specific time period
Online, Real-Time Processing
Updating each transaction as it occurs
Source Data Automation
Devices that capture transaction data in machine-readable form at the time and place of their origin
Specialized Journal
Used to record large numbers of repetitive transactions
Set of interrelated, centrally coordinated files
Group Code
Two or more subgroups of digits are used to code items
Batch Processing
Updating done periodically, such as daily
Systematic assignment of numbers or letters to items to classify and organize them
Mnemonic Code
Letters and numbers, derived from the item description, are interspersed to identify items; usually easy to memorize
Source Documents
Initial record of a transaction that takes place; usually recorded on preprinted forms or formattted screens
Fields containing data about entity attributes; like a row in a spreadsheet
Block Code
Sets of numbers are reserved for specific categories of data
Control Account
The general ledger account corresponding to a subsidiary ledger, where the sum of all subsidiary ledger entries should equal the amount in the general ledger account