New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Week 1 Notes

Star Star Star Star Star
1 review
by: Marc Giangregorio

Week 1 Notes Acct 304

Marc Giangregorio
Xavier University
View Full Document for 0 Karma

View Full Document

Accounting Info Systems
Dr. Cockrell

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Get these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Unlock These Notes for FREE

Enter your email below and we will instantly email you these Notes for Accounting Info Systems

(Limited time offer)

Unlock Notes

Already have a StudySoup account? Login here

Unlock FREE Class Notes

Enter your email below to receive Accounting Info Systems notes

Everyone needs better class notes. Enter your email and we will send you notes for this class for free.

Unlock FREE notes

About this Document

Chapters 1 and 2
Accounting Info Systems
Dr. Cockrell
Class Notes




Star Star Star Star Star
1 review
Star Star Star Star Star
"No all-nighter needed with these notes...Thank you!!!"

Popular in Accounting Info Systems

Popular in Accounting

This 5 page Class Notes was uploaded by Marc Giangregorio on Monday January 25, 2016. The Class Notes belongs to Acct 304 at Xavier University taught by Dr. Cockrell in Spring 2016. Since its upload, it has received 71 views. For similar materials see Accounting Info Systems in Accounting at Xavier University.

Similar to Acct 304 at Xavier University


Reviews for Week 1 Notes

Star Star Star Star Star

No all-nighter needed with these notes...Thank you!!!



Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 01/25/16
Chapter 1 AIS Overview Systems and subsystems need goal congruence to achieve an organization s overall goal Data collected facts Information organized data With meaning to help a business make effective decisions Information Technology IT effectively collects stores and analyzes data to provide useful info and prevent information overload Value of Info Benefits Costs Benefits include improved decisions and planning Costs are the time and resources spent producing info Useful info is relevant reliable complete timely understandable verifiable and accessible Business Process set of structured tasks performed by person computer or machine that help accomplish a specific organizational goal interactions and info from external and internal parties Page 6 figure 11 Transaction Processing capturing transaction data and producing info output ex Managerial report or a financial statement These usually consist of give get exchanges smallnumerous Business ProcessesTransaction Cycles 1 Revenue Cycle selling goodsservices for cashcredit 2 Expenditure Cycle purchasing inventory for resale or raw materials for production 3 ProductionConversion Cycle Using labor raw materials and equipment to produce finished goods 4 Human ResourcePayroll Cycle Hiring training compensating evaluating promoting and terminating employees 5 Financing Cycle Raising money by selling shares in a company to investors and borrowing money While paying dividends and interest Data enters a reporting system from these cycles and releases info to internal and external parties General Ledger and Reporting System info processing operation prepares reports for management and external parties Not every organization needs every cycle importance differs across different organizational needs Accounting Information System AIS system that collects records stores and processes data to produce info for decision makers Can be recorded by paper and pencil manually or it can get as complex as an automated system utilizing IT Important business functions AIS provides collects and stores data about business processes transforms data into information for decision making and safeguards the organization s assets and data How AIS adds value to an organization by providing info to plan manage and control business Improve product quality and reduce production costs Improve efficiency by providing timely info Sharing knowledge improves operations can provide a competitive advantage Improve efficiency and effectiveness of supply chain reduce sales and marketing costs Improve internal control structure protect system from fraud and error Improve decision making Identify problem provide alternative store results or past actions provides accurate and timely info QMPPP The design of AIS is dependent on the organizational culture business strategy and information technology of the business The Value Chain primary and supportive activities of a business Value is added as a product moves through the chain Primary Activities Inbound Logistics receiving and storing materials for productions Operations Production turns inputs into final products Outbound logistics distributionshipping Marketing and Sales help customers buy products Service postsale support to customers repairs U PP Ni Support Activities enable primary activities to be efficient and effective 1 Firm Infrastructure Accounting Finance Legal General administration AIS Human Resources Recruiting hiring and training employees Technology improve product service research and development Purchasing raw materials equipment and supplies used in primary activities P93 Chapter 2 Transaction Processing and ERP Systems Data Processing Cycle Data Input Storage Processing and Info Output used to turn data into useful information Data Input data must be collected about each business activity of interest the resources affected and the people Who participated Source documents documents used to capture transaction data at the source When the transaction takes place ex Sales order Turnaround Documents records of company data sent to an external part then returned to system as input ex Utility bill Source data automation the collection of transaction data in machine readable form at the time and place of origin ex ATMs Data Storage Info is stored in ledgers General ledger contains summary level data for every asset liability equity revenue and expense account Subsidiary ledger used to record detailed data for general ledger accounts with many individual subaccounts such as accounts receivable inventory and accounts payable Control Account a general ledger account that summarizes the total amounts recorded in a subsidiary ledger Data Processing CRUD Creating new data records Reading existing data Updating previous recordsdata Deleting data PP P Batch Processed accumulated transaction records into groupsbatches for processing at a regular interval Real Time Processing Computer system processes data immediately Information Output Final step in data processing cycle Can be viewed online soft copy or with a physical document hard copy Info Presented in 3 forms 1 Document a record of a transaction or other company data ex Checks sales invoice 2 Report used by employees to control operational activated and by managers to make decisions ex Monthly sales report 3 Query a request for the database to provide the info needed to deal with a problem Coding systematic assignment of numbers and letters to organize items 1 Sequence items numbered consecutively so gapsmissing items are obvious ex Invoices and purchase orders 2 Block blocks of numbers represent specific categories of data ex Chart of Accounts 3 Group Two or more subgroups of digits used to code an item often used with block codes 4 Mnemonic numbers and letters used to describe an item that are memorized by employees for ease of access Code should be consistent with intended use allow for growth be simple to minimize cost and consistent with company s organizational structure and across company divisions Chart of Accounts list of all numbers assigned to balance sheet and income statement accounts Account number allow data to be coded classified and entered into proper accounts which facilitates financial statements and report preparation Accounts are assigned numbers to match the order of their appearance in the financial statements decreasing liquidity J ournals transaction data is often recorded in a journal before ledger it shows the accounts and the amounts debitedcredited General J ournal used to record infrequentnonroutine transactions such as loan payments Specialized J ournal records large number of repetitive transactions such as credit sales cash receipts and purchases Periodically the total of all sales journals entries is posted to the general ledger Audit Trail path that allows transactions to be traced through a data processing system from origin to output Used to check accuracy of ledger postings and changes over time Computer Based Storing Entity an item about which info is stored ex employees and inventory Each entity has attributes or characteristics of interest Field portion of data record where values for attributes are stored Record set of fields whose data describe an entity Attributes are the column headers Fields are like Excel cells Records are rows in excel Data value actual value stored in a field File group of related records Master File permanent file of records that stores cumulative data about an organization Transaction file file that contains individual business transactions that occur in a fiscal period Database set of interrelated centrally coordinated files Enterprise Resource Planning ERP System integrates all aspects of an organization s activities such as accounting finance marketing manufacturing and inventory management A well designed ERP provides management with easy access to uptodate info about multiple organizational activities in a centralized location to evaluate the organization s business process as a whole more effectively Advantages to ERP data captured once standardization of procedures and reports access controls for improved security Disadvantages to ERP costs a lot to integrate takes a lot of time to implement Employee resistance to learn new system the system as a Whole is very complex


Buy Material

Are you sure you want to buy this material for

0 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Allison Fischer University of Alabama

"I signed up to be an Elite Notetaker with 2 of my sorority sisters this semester. We just posted our notes weekly and were each making over $600 per month. I LOVE StudySoup!"

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"


"Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.