Chapter 7: Accounting Information Systems

These flashcards cover key concepts and vocabulary from Chapter 7 of Accounting Information Systems, including definitions of important terms and principles.

Accounting Information Systems

Systems that collect and process data from transactions and events, organize them in reports, and communicate results to decision makers.

Special Journals

Journals used for recording specific types of transactions, such as sales or cash receipts.

Controlling Account

An account in the general ledger that summarizes the total balances of a related subsidiary ledger.

Subsidiary Ledger

A detailed ledger that contains individual accounts for the components that make up a controlling account.

Accounts Receivable Ledger

A subsidiary ledger that contains individual accounts for amounts due from customers.

Accounts Payable Ledger

A subsidiary ledger that contains individual accounts for amounts owed to creditors.

Sales Journal

A special journal used to record sales transactions.

Cash Receipts Journal

A special journal used to record all cash receipts.

Purchases Journal

A special journal used to record purchases of goods on credit.

Cash Payments Journal

A special journal used to record all cash payments.

Online Processing

A data processing method that enters and processes data immediately.

Batch Processing

A data processing method that accumulates information for a period of time and processes it all at once.

Enterprise Resource Planning Software (ERP)

Programs that manage and integrate a company’s vital operations.

Data Analytics

The process of analyzing data to identify meaningful relationships and trends.

Data Visualization

The graphical presentation of data to help understand its significance.

Cloud Computing

The delivery of computing services over the internet rather than as a physical product.