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Study sets matching "accounting information chapter 14"

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Study sets matching "accounting information chapter 14"

26 terms
Accounting Information System Chapter 14
Production cycle
4 basic activities of the production c…
General threats to production cycle
threat to production design
a recurring set of business activities and related informatio…
1. product design 2. planning and scheduling, production oper…
1. inaccurate or invalid master data 2. unaurhorized disclosu…
poor product design resulting in excess cost
Production cycle
a recurring set of business activities and related informatio…
4 basic activities of the production c…
1. product design 2. planning and scheduling, production oper…
Chapter 14 Accounting Information Systems Definitions
application controls
backup
batch control total
biometric identification
purpose is to prevent, detect, and correct errors and irregul…
the process of saving your work continuously, so you do not l…
total dollar amount for bundles of checks
retina scanners, finger scanners
application controls
purpose is to prevent, detect, and correct errors and irregul…
backup
the process of saving your work continuously, so you do not l…
26 terms
Accounting Information Systems: Chapter 14
around the computer approach
auditing through the computer
audit program
audit software
information systems auditing approach in which the processing…
process of reviewing and evaluating the internal controls in…
a detailed list of the audit procedures to be applied on a pa…
computer programs that permit the computer to be used as an a…
around the computer approach
information systems auditing approach in which the processing…
auditing through the computer
process of reviewing and evaluating the internal controls in…
18 terms
Accounting Information Systems Chapter 14
Accounting Rate of Return
Acquisition costs
Alignment risk
Benefits
The average annual income from the IT initiative divided by t…
All direct and indirect costs necessary to acquire and implem…
The risk that an IT initiative is not aligned with the strate…
The positive consequences to the organization of an IT invest…
Accounting Rate of Return
The average annual income from the IT initiative divided by t…
Acquisition costs
All direct and indirect costs necessary to acquire and implem…
14 terms
Accounting Information Systems Chapter 14
The AIS complies and feed information…
Identify a key feature associated with…
The production cycle differs from reve…
How does a MRP inventory system reduce…
The revenue cycle provides the information used to plan produ…
Seeks to balance existing production capacity & raw materials…
there are no direct external data sources or destinations.
By push manufacturing, goods are produced in expectation of c…
The AIS complies and feed information…
The revenue cycle provides the information used to plan produ…
Identify a key feature associated with…
Seeks to balance existing production capacity & raw materials…
16 terms
Hurt Accounting Information Systems: Chapter 14
Conversion process
Job costing
Process costing
Materials requisition
convert direct material, direct labor, and manufacturing over…
Units of product are differentiated from one another
systems produce undifferentiated goods
requests raw materials form the warehouse for production. Pro…
Conversion process
convert direct material, direct labor, and manufacturing over…
Job costing
Units of product are differentiated from one another
26 terms
ACFI 890 - Accounting Information Systems // Chapter 14
Production Cycle
Basic Activities of Production Cycle
Bill of Materials
Operations List
The recurring set of business activities and related data pro…
1) Product Design... 2) Planning and Scheduling... 3) Production Op…
A document that specifies the part numbers, description, and…
A document that specifies the sequence of steps to follow in…
Production Cycle
The recurring set of business activities and related data pro…
Basic Activities of Production Cycle
1) Product Design... 2) Planning and Scheduling... 3) Production Op…
43 terms
Core Concepts of Accounting Information Systems, Chapter 14
access control list
access security
blogs
business-to-business e-commerce
used to identify what is allowed and what is not allowed. typ…
uses access authentication to require individuals to prove th…
Web-based journals often used by individuals to groups to mai…
Electronic commerce in which both the sellers and the buyers…
access control list
used to identify what is allowed and what is not allowed. typ…
access security
uses access authentication to require individuals to prove th…
37 terms
Chapter 14; Using management and accounting information (Information systems)
The four major resources managers must…
Relevant information leads to
Information rules
Data
-Material... -Human... -Financial... -Information
Better intellingence and knowledge which leads to better deci…
Emerges when research confirms the same results each time tha…
Numerical or verbal descriptions that usually results from so…
The four major resources managers must…
-Material... -Human... -Financial... -Information
Relevant information leads to
Better intellingence and knowledge which leads to better deci…
51 terms
Chapter 14 - Computer Controls for Organizations and Accounting Information Systems
Enterprise-level controls
Control Environment
Types of Controls
Security policy
affect the entire org; influences the effectiveness of other…
the tone set by mgmt helps to establish the level of security…
-consistent policies and procedures, formal codes of conduct…
a comprehensive plan that helps protect an enterprise from bo…
Enterprise-level controls
affect the entire org; influences the effectiveness of other…
Control Environment
the tone set by mgmt helps to establish the level of security…
30 terms
Chapter 14: Using Management and Accounting Information
Four main resources managers must have…
Relationship between information and r…
Information rules
Data
- Information... - Material... - Human resources... - Financial resour…
- Better intelligence and knowledge makes better decisions, t…
- Relationship between buyer behaviour and price of product/s…
Numerical or verbal descriptions that usually result from som…
Four main resources managers must have…
- Information... - Material... - Human resources... - Financial resour…
Relationship between information and r…
- Better intelligence and knowledge makes better decisions, t…
38 terms
Chapter 14: Computer Controls for Organizations and Accounting Information Systems
COBIT
Enterprise controls
security policy
physical security
control objectives for information and related technology... go…
controls that affect the entire organization and influence th…
comprehensive plan that helps protect an enterprise from both…
any measures that an organization uses to protect its facilit…
COBIT
control objectives for information and related technology... go…
Enterprise controls
controls that affect the entire organization and influence th…
11 terms
Chapter 14 Accounting
CPA
Accounting
Required Statements
Income statemnent
Certified Public Accountant
A system for recognizing, organizing, reporting, and analyzin…
Balance sheet, Income statement, statement of cash flows
Revenues expenses and net over a period of time
CPA
Certified Public Accountant
Accounting
A system for recognizing, organizing, reporting, and analyzin…
27 terms
(Final 310) Accounting Information Systems // Chapter 14
Production Cycle
Bill of Materials
Operations List
Manufacturing Resource Planning - PUSH…
The recurring set of business activities and related data pro…
A document that specifies the part numbers, description, and…
A document that specifies the sequence of steps to follow in…
An extension of materials resource planning that seeks to bal…
Production Cycle
The recurring set of business activities and related data pro…
Bill of Materials
A document that specifies the part numbers, description, and…
32 terms
BUSN Chapter 14,15 Management Information Systems, & Accounting
Business Applications
Price Performance
Data vs. Information
Information System
Telephone Calls/ Billing... Checkout Process at stores... Inventory…
The cost of computing power drops roughly 30% every year and…
Data: Raw facts and figures that may or may not be relevant t…
An organized method for collecting, storing, and communicatin…
Business Applications
Telephone Calls/ Billing... Checkout Process at stores... Inventory…
Price Performance
The cost of computing power drops roughly 30% every year and…
16 terms
Accounting Chapter 14 vocab
Retained Earnings
Dividends
Board of Directors
Declaring a Dividend
An amount earned by a corporation and not yet distributed to…
Earnings distributed to stockholders.
A group of people elected by the stockholders to manage a cor…
Action by a board of directors to distribute corporate earnin…
Retained Earnings
An amount earned by a corporation and not yet distributed to…
Dividends
Earnings distributed to stockholders.
62 terms
act 404: chapter 14- Computer Controls for Organizations and Accounting Information Systems
examples of enterprise level controls
Enterprise level controls
control environment
security policy
• Examples of these controls... o Consistent policies and proced…
• Those controls that affect the entire organizcation and inf…
o Tone set by management helps to establish the level of secu…
a comprehensive plan that helps protect an enterprise from bo…
examples of enterprise level controls
• Examples of these controls... o Consistent policies and proced…
Enterprise level controls
• Those controls that affect the entire organizcation and inf…
51 terms
Chapter 14 - Computer Controls for Organizations and Accounting Information Systems
Enterprise-level controls
Control Environment
Types of Controls
Security policy
affect the entire org; influences the effectiveness of other…
the tone set by mgmt helps to establish the level of security…
-consistent policies and procedures, formal codes of conduct…
a comprehensive plan that helps protect an enterprise from bo…
Enterprise-level controls
affect the entire org; influences the effectiveness of other…
Control Environment
the tone set by mgmt helps to establish the level of security…
16 terms
Accounting Chapter 14 Vocabulary
accumulated depreciation
allowance method of recording losses f…
board of directors
book value
the total amount of depreciation expense that has been record…
crediting the estimated value of uncollectible accounts to a…
a group of persons elected by the stockholders to manage a co…
the difference between an asset's account balance and its rel…
accumulated depreciation
the total amount of depreciation expense that has been record…
allowance method of recording losses f…
crediting the estimated value of uncollectible accounts to a…
16 terms
Accounting I - Chapter 14
accumulated depreciation
allowance method of recording losses f…
board of directors
book value
the total amount of depreciation expense that has been record…
crediting the estimated value of uncollectible accounts to a…
a group of persons elected by the stockholders to manage a co…
the difference between an asset's account balance and its rel…
accumulated depreciation
the total amount of depreciation expense that has been record…
allowance method of recording losses f…
crediting the estimated value of uncollectible accounts to a…
38 terms
Chapter 14 Accounting
Dishonored Note
Maturity Value
Maturity Date
Principal
Note that is not paid when due.
The amount that is due on the maturity date of a note.
The date on which the principal of a note is due to be repaid.
The original amount of a note, sometimes referred to as the f…
Dishonored Note
Note that is not paid when due.
Maturity Value
The amount that is due on the maturity date of a note.
50 terms
Chapter 14 - Additional Information
The largest portion of the adult brain
Cerebrum is made up of large paired
Cortex
Surfaces of the cerebral hemispheres a…
Cerebrum
Left and right cerebral hemispheres
A superficial layer of gray matter covering most of the brain…
Cerebral cortex
The largest portion of the adult brain
Cerebrum
Cerebrum is made up of large paired
Left and right cerebral hemispheres
Principles of Accounting Chapter 14
Cash dividend
Cumulative dividend
Declaration date
Deficit
A pro rata distribution of cash to stockholders.
A feature of preferred stock entitling the stockholder to rec…
The date the board of directors formally declares (authorizes…
A debit (negative) balance in retained earnings.
Cash dividend
A pro rata distribution of cash to stockholders.
Cumulative dividend
A feature of preferred stock entitling the stockholder to rec…
16 terms
Accounting Chapter 14 vocab
Retained Earnings
Dividends
Board of Directors
Declaring a Dividend
An amount earned by a corporation and not yet distributed to…
Earnings distributed to stockholders.
A group of people elected by the stockholders to manage a cor…
Action by a board of directors to distribute corporate earnin…
Retained Earnings
An amount earned by a corporation and not yet distributed to…
Dividends
Earnings distributed to stockholders.
22 terms
Aplia Accounting Chapter 14
Aging of accounts receivable
Allowance method
Book value
Book value of accounts receivable
Analyzing accounts receivable according to when they are due.
Crediting the estimated value of uncollectible accounts to a…
The difference between an asset's account balance and its rel…
The difference between the balance of Accounts Receivable and…
Aging of accounts receivable
Analyzing accounts receivable according to when they are due.
Allowance method
Crediting the estimated value of uncollectible accounts to a…
16 terms
Accounting Chapter 14
retained earnings
dividends
board of directors
declaring a dividend
An amount earned by a corporation and not yet distributed to…
earnings distributed to stockholders
A group of people elected by the stockholders of a corporatio…
action by a board of directors to distribute corporate earnin…
retained earnings
An amount earned by a corporation and not yet distributed to…
dividends
earnings distributed to stockholders
24 terms
Accounting Chapter 14
sale on account
charge customer
credit cards
sales slip
A sale for which cash will be received at a later date
Customer to whom a sale on account is made
a plastic card, issued by a business and bearing a customer's…
the sale of merchandise that will be paid for at a later date.
sale on account
A sale for which cash will be received at a later date
charge customer
Customer to whom a sale on account is made
20 terms
Accounting Chapter 14 Vocab
aging of accounts receivable
allowance method
book value
book value of accounts receivable
analyzing accounts receivable according to when they are due.
crediting the estimate value of uncollectible accounts to a c…
the difference between an asset's account balance and its rel…
The difference between the balance of Accounts Receivable and…
aging of accounts receivable
analyzing accounts receivable according to when they are due.
allowance method
crediting the estimate value of uncollectible accounts to a c…
16 terms
Accounting chapter 14 vocab
action by a board of directors to dist…
the original cost of a plant asset min…
cash and other assets expected to be e…
the difference between the balance of…
declaring a dividend
book value of a plant asset
current assets
book value of accounts
action by a board of directors to dist…
declaring a dividend
the original cost of a plant asset min…
book value of a plant asset
25 terms
Accounting I Chapter 14 Terms
Subsidiary Ledger
Sales discount
Accounts Receivable Subsidiary Ledger
Bankcard
A ___ is a book that is summarized in a controlling account i…
A cash discount issued by the seller is a ________.
The ____ contains accounts of the charge customers of a busin…
A ___ is a credit card issued by a bank and honored by many b…
Subsidiary Ledger
A ___ is a book that is summarized in a controlling account i…
Sales discount
A cash discount issued by the seller is a ________.
14 terms
Accounting for Bad Debts - Chapter 14
Bad Debt
Bad Debts Expense
Direct Write-Off
Reinstate
an account receivable that for one reason or another cannot b…
an operating expense used to record losses from uncollected a…
a method of accounting for bad debts in which the expense is…
to reopen a customer's account that was previously written of…
Bad Debt
an account receivable that for one reason or another cannot b…
Bad Debts Expense
an operating expense used to record losses from uncollected a…
21 terms
Accounting I Chapter 14 (Accounting for Uncollectible Accounts Receivable
Promissory Note
Creditor
Note Payable
Principal (face Value)
A written promise to pay a certain amount of money at a speci…
A person or organization to whom a liability is owed.
A promissory note that a business issues to a creditor when i…
Amount being borrowed.
Promissory Note
A written promise to pay a certain amount of money at a speci…
Creditor
A person or organization to whom a liability is owed.
25 terms
Glencoe Accounting Chapter 14 vocab
retailer
wholesaler
merchandise
inventory
a business that sells to the final user--the consumer.
a business that sells to retailers.
goods bought for resale.
items of merchandise the business has in stock.
retailer
a business that sells to the final user--the consumer.
wholesaler
a business that sells to retailers.
15 terms
Accounting Vocabulary - Chapter 14
Dividends
Retained Earnings
Board of Directors
Declaring a Dividend
Earnings distributed to stockholders.
An amount earned by a corporation and not yet distributed to…
A group of persons elected by the stockholders to manage a co…
Action by a board of directors to distribute corporate earnin…
Dividends
Earnings distributed to stockholders.
Retained Earnings
An amount earned by a corporation and not yet distributed to…
18 terms
Accounting Chapter 14
Variable Costs
Step Costs
Mixed Costs
Fixed costs
Change in total in direct proportion to changes in activity
Do not change in response to a change in activity volume
Contain a fixed and variable cost element; sometimes called s…
Constant within a narrow range of activity, but shift to a hi…
Variable Costs
Change in total in direct proportion to changes in activity
Step Costs
Do not change in response to a change in activity volume
22 terms
Accounting I ~ Chapter 14 Vocabulary
accounts receivable subsidiary ledger
cash discount
cash receipt
cash sale
A separate ledger that contains accounts for all charge custo…
The amount a customer can deduct from the total owed for purc…
The cash received by a business in a single transaction.
A transaction in which the business receives full payment for…
accounts receivable subsidiary ledger
A separate ledger that contains accounts for all charge custo…
cash discount
The amount a customer can deduct from the total owed for purc…
10 terms
Chapter 14 Informative Speaking
informative speech
object
process
event
a speech designed to convey knowledge and understanding
anything that is visible, tangible, and stable in form
a systematic series of actions that leads to a specific resul…
anything that happens or is regarded as happening
informative speech
a speech designed to convey knowledge and understanding
object
anything that is visible, tangible, and stable in form
22 terms
Chapter 14: Accounting for Uncollectible Accounts Receivable
Aging of accounts receivable
Allowance method
Book value
Book value of accounts receivable
Analyzing accounts receivable according to when they are due.
Crediting the estimated value of uncollectible accounts to a…
The difference between an asset's account balance and its rel…
The difference between the balance of Accounts Receivable and…
Aging of accounts receivable
Analyzing accounts receivable according to when they are due.
Allowance method
Crediting the estimated value of uncollectible accounts to a…
13 terms
Chapter 14 Speaking to Inform
Informative speech
expository speech
process speech
Chronological Order
provides information to an audience
type of informative speech which gives information about a sp…
a speech which explains how to do something
arranges details or events according to the order in which th…
Informative speech
provides information to an audience
expository speech
type of informative speech which gives information about a sp…
Information Systems Chapter 14
Pull Technology
Push Technology
Application Service Providers
Software as a Service
a user states a need before getting information, as when a UR…
also known as "webcasting," a Web server delivers information…
provide access to software or services for a fee.
also known as "on-demand software," is a model for ASPs to de…
Pull Technology
a user states a need before getting information, as when a UR…
Push Technology
also known as "webcasting," a Web server delivers information…
16 terms
Chapter 14_Atkins Accounting
Retained earnings
Dividends
Board of directors
Declaring a dividend
An amount earned by a corporation and not yet distributed to…
Earnings distributed to stockholders
A group of persons elected by the stockholders to manage a co…
Action by a board of directors to distribute corporate earnin…
Retained earnings
An amount earned by a corporation and not yet distributed to…
Dividends
Earnings distributed to stockholders
16 terms
Accounting I - Chapter 14
Retained Earnings
Dividends
Board of Directors
Declaring a Dividend
An amount earned by a corporation and not yet distributed to…
Earnings distributed to stockholders.
A group of persons elected by the stockholders to manage a co…
Action by a board of directors to distribute corporate earnin…
Retained Earnings
An amount earned by a corporation and not yet distributed to…
Dividends
Earnings distributed to stockholders.
24 terms
Chapter 14:Accounting for Uncollectible Accounts Receivable
Uncollectible Accounts
Matching Expenses with Revenue
Allowance Method
Book Value
Accounts receivable that cannot be collected
Concept requiring expenses to be recorded in the fiscal perio…
Crediting the estimated value of uncollectible accounts to a…
The difference between an asset's account balance and its rel…
Uncollectible Accounts
Accounts receivable that cannot be collected
Matching Expenses with Revenue
Concept requiring expenses to be recorded in the fiscal perio…
26 terms
Accounting Chapter 14 Vocabulary
subsidiary ledger
cash discount
contra account
bankcard
A ______ is a book that is summarized in a controlling accoun…
The amount a costomer may deduct if the payment deduct if the…
An account whose balance decreases another account's balance…
A _______ is a credit card issued by a bank and honored by ma…
subsidiary ledger
A ______ is a book that is summarized in a controlling accoun…
cash discount
The amount a costomer may deduct if the payment deduct if the…
30 terms
Accounting I Chapter 14
salary
pay period
payroll
withholding allowance
A fixed amount of money paid to an employee for each pay peri…
The time covered by a salary payment (weekly, bi-weekly, mont…
The total amount earned by all employees for a pay period
A deduction from the total earnings for each person legally s…
salary
A fixed amount of money paid to an employee for each pay peri…
pay period
The time covered by a salary payment (weekly, bi-weekly, mont…
11 terms
Chapter 14 Information
Reduction Conditions
Ease of Reduction (Easy to Hard)
Classic Grignard Conditions
Lithium Reduction
1)NaBH4 in CH3OH... 2) H3O+ workup... or... 1) LiAlH4 in diethylether…
Aldehyde, Keytone, Ester, Carboxylate
1)Mg in diethylether... 2)H3O+ workup
1) R-Br with 2 Li... 2) R-Li with target
Reduction Conditions
1)NaBH4 in CH3OH... 2) H3O+ workup... or... 1) LiAlH4 in diethylether…
Ease of Reduction (Easy to Hard)
Aldehyde, Keytone, Ester, Carboxylate
22 terms
Accounting Terms Chapter 14
1. Accounts receivable that cannot be…
2. Crediting the estimated value of un…
3. The difference between an asset's a…
4. The difference between the balance…
uncollectible accounts
allowance method
book value
book value of accounts receivable
1. Accounts receivable that cannot be…
uncollectible accounts
2. Crediting the estimated value of un…
allowance method
20 terms
Chapter 14: Accounting For Sales
Retailer
Wholesaler
Merchandise Inventory Account
Sales Account
A business that sells to the final user (the consumer)
A business that sells to the retailers.
Records the dollar amount of merchandise in stock (Asset acco…
Revenue account to record amount of merchandise sold.
Retailer
A business that sells to the final user (the consumer)
Wholesaler
A business that sells to the retailers.
25 terms
ratios for accounting chapter 14
current ratio
quick ratio
working capital
net cash from operating activities
current assets/current liabilities
quick assets/current liabilities
current assets - current liabilities
(find it in the statement of cash flows)
current ratio
current assets/current liabilities
quick ratio
quick assets/current liabilities
19 terms
Accounting Chapter 14
Amortization
Annuity
Bond
Bond Indenture
every period, a portion of the bond discount must be reduced…
a series of equal cash receipts spaced equally in time
a form of an interest-bearing note
the underlying contract between the company issuing bonds and…
Amortization
every period, a portion of the bond discount must be reduced…
Annuity
a series of equal cash receipts spaced equally in time
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