When similar transactions are grouped together for a specified time for processing, it is called:

2.In a manual system, an adjusting entry would most likely be initially recorded in a:A.Special journalB.Subsidiary ledgerC.General journalD.General ledger

CHAPTER 2END OF CHAPTER MATERIALCONCEPT CHECK1.1. Which of the following statements is not true?a.Accounting information systems must maintain bothdetail and summary information.b.Business processes may vary from company to company.c.Regardless of the extent of computerization, allaccounting information systems must capture data from thetransactions within business processes.d.Business processes categorized as expenditure processesare not intended to be processes that serve customers.2.2. In a manual system, an adjusting entry would most likely be

Cards Return to Set Details

Term

Definition

Control Objectives for Information Technology. Extensive framework of information technology controls. Important for those who design and audit IT systems.

Term

Trust Services Principles

Definition

The written guidance for CPAs who provide assurance services for organizations.

Term

IT Risk and control Categories

Definition

1. Security 2. Availability 3. Process integrity 4. Online privacy 5. Confidentiality

Term

Definition

defined by COBIT as effectiveness, efficiency, confidentiality, integrity, availability, compliance, and reliability

Term

Definition

defined by COBIT as applications, information, infrastructure, and people

Term

Definition

set of procedures and policies adopted within an organization to safeguard its assets, check the accuracy and reliability of its data, promote operational efficiency, and encourage adherence to prescribed managerial practices.

Term

Definition

a prescribed sequence of work steps performed in order to produce a desired result for the organization.

Term

accounting information system

Definition

comprise the processes, procedures, and systems that capture accounting data from business processes;

record, process, report accounting data to internal and external users.

Term

Definition

provides materials or operating supplies to an organization

Term

Definition

entities, processes, and information flows that involve the movement of materials, funds, and related information through the full logistics process (from acquisition of raw materials to the delivery of finished goods)

Term

Definition

the management and control of all materials, funds, and related information in the logistics process.

Term

Definition

occurs when you use IT to enhance efficiency and effectiveness of internal or supply chain processes

Term

Definition

computers, ancillary equipment, software, services, and related resources as applied to support business processes

Term

business process reengineering (BPR)

Definition

the purposeful and organized changing of business processes to make them more efficient

Term

Definition

smallest unit of information in a computer system

Term

Definition

a unit of storage that represents one character

Term

Definition

one item within a record (for example, a last name)

Term

Definition

a set of related fields for the same entity

Term

Definition

an entire set of related records

Term

Definition

a collection of data stored on the computer in a form that allows the data to be easily accessed, retrieved, manipulated, and stored.

Term

How is data organized in the data hierarchy?

Definition

bit, byte, field, record, file, database

Term

Definition

stores data in several small 2-D tables that can be joined together in many varying ways to represent many different kinds of relationships among data

Term

Definition

relatively permanent files that maintain the detailed data for each major process

Term

Definition

set of relatively temporary records that will be processed to update the master file

Term

Definition

stores records in sequence with one right after another

Term

Definition

not written or read in sequential order; stored in random order on disk media

Term

indexed sequential access method

Definition

(ISAM) files are stored sequentially, but can also be accessed randomly because an index allows random access to specific records

Term

Definition

all similar transactions are grouped together for a specified time, and then this group of transactions is processed as a batch

Term

Definition

the opposite of batch processing, each transaction is entered and processed one at a time

Term

Definition

the transaction is processed immediately, and in real time, so the output is available immediately

Term

Definition

integrated collection of enterprise-wide data that includes 5 to 10 years of nonvolatile data, used to support management in decision making and planning

Term

Definition

contains the data that are continually updated as transactions are processed

Term

Definition

the process of searching data within the data warehouse for identifiable patterns that can be used to predict future behavior

Term

Definition

two or more computers linked together to share information and/or resources

Term

Definition

a computer network that spans a relatively small area

Term

Definition

the global computer network, "information super-highway"

Term

Definition

a company's private network accessible only to the employees of that company

Term

Definition

offers access to selected outsiders, such as buyers, suppliers, distributors, and wholesalers in the supply chain

Term

Definition

the use of electronic means to enhance business processes, any business done online

Term

electronic data interchange

Definition

(EDI) intercompany, computer-to-computer transfer of business documents in a standard business format

Term

Definition

(POS) system of hardware and software that captures retail sales transactions by standard bar coding

Term

Definition

computer hardware and software system in which the software matches an invoice to its related purchase order and receiving report

Term

evaluated receipt settlement

Definition

(ERS) an invoice-less system in which computer hardware and software complete an invoice-less match that is a comparison of the purchase order with the goods received.

Term

e-payables and electronic invoice presentment and payment

Definition

(EIPP) terms refer to web-enabled receipt and payment of vendor invoices

Term

enterprise resource planning

Definition

(ERP) multi-module software system designed to manage all aspects of an enterprise

Term

enterprise risk management

Definition

ongoing assessment of risks, determining acceptable levels of risk, and managing risks to that acceptable level

Term

Enterprise risk management requires that management set policies and procedures related to:

Definition

internal environment, objective setting, event identification, risk assessment, risk response, control activities, information and communication, and monitoring

Term

Definition

apply to the overall IT accounting system; they are not restricted to any particular accounting application

Term

Definition

used specifically in accounting applications to control inputs, processing, and output

Term

Definition

an elaborate system of checks and balances whereby a company's leadership is held accountable for building shareholder value and creating confidence in the financial reporting processes

Term

Definition

the proper management, control, and use of IT systems are known as IT governance

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