Lecture 6: Enterprise Resource Planning Systems and Accounting Systems

Flashcards covering the data processing cycle, accounting software categories, business process influences, and the advantages/disadvantages of ERP systems.

The four components of the data processing cycle are data input, data storage, data processing, and __________ __________.

information output

According to the lecture, the first step in data input is to capture transaction data triggered by a business __________.

event

A __________ document is created by the computer to be used for data entry, with examples including inventory stock cards or marking sheets.

turnaround

Capturing data directly from machines, such as Point of Sale scanners at a grocery store, is known as __________ __________ __________.

source data automation

The four types of data processing (CRUD) are Creating, Reading, __________, and Deleting.

Updating

In data processing, __________ processing occurs when records are posted at the end of the business day.

batch

Data in an AIS is typically stored in either __________ files or transaction files.

master

Coding schemas are used to organize data; __________ codes involve numbering items consecutively to account for all items.

Sequence

A __________ code uses specific sets of numbers reserved for categories of data, such as using the range $2000-2999$ for 2nd year units.

block

The __________ code uses letters and numbers interspersed to identify an item, such as "ACW" representing "Accounting Sunway".

Mnemonic

Being able to trace the path of a transaction through the records is known as creating an __________ __________.

audit trail

A __________ is a specific question for information within a database, such as asking which division had the most sales for the month.

query

Small business accounting software examples include Quickbooks by Intuit, Peachtree Accounting, UBS, and __________.

MYOB

A __________ __________ refers to markets or industries that are distinct in terms of the services they provide, such as health care, construction, or banking.

vertical market

Professional service organizations have unique AIS needs because they typically have no __________ inventory.

merchandise

Health care organizations require special accounting software to handle __________-__________ billing for private and government entities.

third-party

ERP stands for __________ __________ __________ systems.

Enterprise Resource Planning

ERP systems integrate various organizational cycles, including the Revenue, Expenditure, Production, H/R Payroll, and the __________ __________ and Reporting System.

General Ledger

One advantage of an ERP system is that data is __________ __________, eliminating the need for multiple departments to enter the same customer information.

captured once

A major disadvantage of ERP is the need to __________-__________ business processes to conform to the software's specifications.

re-engineer

High-end enterprise systems like SAP or Oracle can cost between $500,000$ and __________ of millions of dollars.

hundreds