ACC 220 Lecture Notes - Lecture 15: Check Digit, Transaction Data, Missing Data

• School: McKendree University
• Department: Accounting
• Course: ACC 220
• Professor: Julie Goodin

Document Summary

3 categories: input controls, processing controls, output controls. Transaction data should never update master files until tested for validity, accuracy, and completeness. Data code unique code to represent each item in the system (i. e. inventory, customer or vendor accounts, financial accounts, Transcription errors adding digit, removing digit from end of code (truncating) or replacing digit with another (substitution) Transposition errors two adjacent digits are reversed (single) or nonadjacent digits are transposed (multiple) Missing data check identifies blank or incomplete input fields that should contain data. Numeric-alphabetic check identifies when data in particular field are in the wrong for. Limit check identifies field values that exceed authorized limit. Range check identifies when data is outside acceptable upper and lower limits. Reasonableness check identifies whether data is reasonable when considered along with other fields.