ACF2400 Lecture Notes - Lecture 1: Enterprise Resource Planning, Transaction Processing, Transaction Data

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3 Aug 2018
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Chapter 1 & chapter 2: accounting information systems: Data processing cycle (input, stored, processed, output) Def: a set of two or more interrelated components interacting to achieve a goal. Data is raw input of information system, inadequate for decision making. Information is processed data, which adds value to decison-making process. Transactional information between internal & external parties in an. Business organizations conduct business transactions which is an agreement between two entities to exchange goods, services, or any other event that can be measured in economic terms by an organization. Transaction data is used to create financial statements and is called transaction processing. The flow of information between these users for the various business activities involves a give-get exchange grouped into business processes or transaction cycles. 5 major business processes or transaction cycles: Ais is a system that collects collects, records, stores, and processes data to produce information for decision makers. + capture transaction data ( activity, resources, people involved)

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