MGA 311 Study Guide - Midterm Guide: Subledger, External Auditor, Data Flow Diagram

• School: University at Buffalo
• Department: Management Accounting
• Course: MGA 311
• Professor: Metzger Lorrie

Document Summary

The name and purpose of the documents used in sua, flow of transactions. Ais a collection of resources (people, equipment, processes working towards a common goal/objective) whereby accounting data is collected from accounting transactions (internal and external) to create accounting information. To provide relevant and accurate accounting information to decision makers in a timely manner. To reduce the risk of inappropriate use of accounting data. Accounting data all data that is obtained in relation to a business transaction or event. Individual data fields, broad spectrum of data fields, beyond numeric value. Accounting information multiple data fields that collectively allow a user to make a decision. Consolidation of accounting data, assist in management decision making/external financial reporting purposes. Different types of information used by internal and external groups. High level: support strategic and tactical decision. Creditors, investors, labor unions, suppliers, customers, government agencies, others. Automation programming, with little or no human interaction.