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48 Cards in this Set
- Front
- Back
System |
Two or more interrelated components that interact to achieve a goal |
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Goal conflict |
Subsystem's goal is inconsistent with goals of another subsystem or with the system as a whole |
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Goal congruence |
Subsystem achieves its goals while contributing to the organization's overall goal |
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Data |
Facts that are collected, recorded, stored, and processed by an information system. In and of themselves, data are meaningless |
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Information |
Data with context and meaning. Data that has been organized and processed to improve the decision making process |
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Information overload |
Results in a decline in decision-making quality. Also increases the cost of providing that info |
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Information Technology (IT) |
Effectively filters and condenses information |
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Value of information |
Benefit produced by the information minus the cost of producing it |
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Relevant |
Reduces uncertainty. Improves decision making. Confirms or corrects prior expectations. |
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Reliable |
Free from error or bias. Accurately represents organization events or activities |
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Complete |
Does not omit important aspects of the events or activities it measures |
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Timely |
Provided in time for decision making |
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Understandable |
Presented in a useful and intelligible format |
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Verifiable |
Two independent people can produce the same info |
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Accessible |
Available to users when they need it and in a format they can use |
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Business process |
Set of related, coordinated, structured activities and tasks that help accomplish a specific organizational goal |
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Transaction |
Any activity that can be measured in economic terms; ie, exchange of g+s |
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Transaction processing |
Capturing transaction data and producing information output |
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Data processing cycle |
Take data, generate meaningful and relevant information. Four operations: data input, storage, processing, output |
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Source document |
Document captures data at source when transaction takes place |
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Turnaround document |
Company output sent to an external party, then returned by external party for subsequent input to the system (ex. Utility bill payment stub) |
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Source data automation |
Collects transaction data in machine readable format at time and place of origin (at the transaction source) ex. POS terminals and ATMs |
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General ledger |
A ledger that contains summary-level data for every asset, liability, equity, revenue, and expense account of the organization |
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Subsidiary ledger |
A ledger used to record detailed data for a general ledger account with many individual subaccounts, such as accounts receivable, inventory, and accounts payable |
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Coding |
The systematic assignment of numbers or letters to items to classify and organize them |
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Sequence codes |
Items are numbered consecutively to account for all items. Ex, prenumbered checks, invoices, and PO's |
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Block code |
Blocks of numbers are reserved for specific categories of data |
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Group codes |
Two or more subgroups of digits used to code items. Often used in conjunction with block codes |
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Mnemonic codes |
Letters and numbers are interspersed to identify an item |
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Chart of accounts |
List of the numbers assigned to each general ledger account |
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General journal |
Records infrequent or nonroutine transactions, ie loan payments and end of period adjusting and closing entries |
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Specialized journals |
Record large numbers of repetitive transactions like sales, cash receipts, and cash disbursements |
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Audit trail |
Traceable path of a transaction through a data processing system from point of origin to final output, and vice versa |
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Entity |
Something about which information is stored, ie employees, inventory items, customers |
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Attributes |
Characteristics of interest |
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Field |
Computers store data in a field. Location where data is stored |
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Record |
A record is made up of the fields containing data about an entity |
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Data value |
The data within a field (within a record) |
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File |
Group of related records |
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Master file |
Stores cumulative information about an organization |
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Transaction file |
Contains records of individual business transactions that occur during a specific time |
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Database |
Set of interrelated, centrally coordinated files |
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Batch processing |
Updating done periodically |
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Online, real-time processing |
Update each transaction as it occurs |
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Documents |
Records of transaction or other company data |
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Reports |
Used by employees to control operational activities and by managers to make decisions and formulate business strategies |
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Database query |
Provides info needed to deal with problems and questions that need rapid action or answers |
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Enterprise Resource Planning (ERP) System |
Integrates accounting, finance, marketing, human resources, manufacturing, inventory management, all into one system |