MGA 311 Chapter Notes - Chapter 3: Cash Machine, Subledger, Electronic Data Capture

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

Document Summary

Chapter 3 essential elements and basic activities of accounting systems: essential elements: where data are captured, recorded, processed, stored, reported, basic activities: how data are captured, recorded, processed, stored and recorded in the essential elements. The data that describe transactions and other events; internal/external. Authorization for inventory adjustment customer allowance claim cash receipts prelist. Purchase order: a receive order from b, a prepare a sale order from b"s purchase order. Bill of lading: a written contract between the shipper/consignor and a carrier engaged in the business of transporting goods; a is the shipper. Cash receipts prelist: a record, maintained by date, of each cash receipt. Time card: indicates the employee"s name, the pay period, the time started/stopped. Classify and summarize monetary measurements of business activity of a similar nature. Listing of all account names, along with their codes, used by an organization. Lists transactions in chronological order and is considered the (cid:532)book of original entry(cid:533)