Study Guide for Final Exam
Chapters 7 – 12
Accounting information system People, records, and methods that collect
and process data from transactions and events, organize them in useful
forms, and communicate results to decision makers
Accounts payable ledger Subsidiary ledger listing individual creditor
Accounts receivable ledger Subsidiary ledger listing individual customer
Batch processing Accumulating source documents for a period of time
and then processing them all at once such as once a day, week, or
Cash disbursements journal Special journal normally used to record
all payments of cash; also called cash payments journal
Cash receipts journal Special journal normally used to record all receipts
Check register Another name for a cash disbursements journal when
the journal has a column for check numbers.
Columnar journal Journal with more than one column
Compatibility principle Information system principle that prescribes
an accounting system to conform with a company’s activities, personnel,
Components of accounting systems Five basic components of accounting
systems are source documents, input devices, information processors,
information storage, and output devices.
Computer network Linkage giving different users and different computers
access to common databases and programs
Control principle Information system principle that prescribes an accounting
system to aid managers in controlling and monitoring business
Controlling account General ledger account, the balance of which (after
posting) equals the sum of the balances in its related subsidiary ledger.
Cost-benefit principle Information system principle that prescribes the
benefits from an activity in an accounting system to outweigh the costs
of that activity
Enterprise resource planning (ERP) software Programs... [continues]
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