Everyone should know | this and that | technology evolution | SDLC | This and that |
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What is Accounting?
This process provides, identifes, measures, and communicates economic information
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What are the documents to be match prior to paying a vendor invoice?
Purchase order, receiving report, vendor invoice
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What is a legacy system?
Home grown, developed for a particular functional area with limited interfacing with other applications.
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What is a user need?
It all start with this.
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What is cloud computing?
Hardware and applications are run offsite accessed through the internet.
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What is AIS?
This type of system is designed to report information to decision makers.
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What are adjusting entries?
Made in order to match revenue with expenses
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What is a mainframe?
Large, massive computers used by large corporations for processing in the 1960's and 1970s.
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What are the requirments phase?
Includes identifying user needs, outputs, database requirements, test plan
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What is the purpose of internal controls?
S. A. F. E
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What are source documents
These documents are the basis for system inputs.
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What is annual depreciation?s
Purchase price less salvage value divided by useful life.
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What is timesharing?
Paying for computer processing time based on useage was popular with mainframes and is being used with cloud computing.
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What is parellel testing?
This implementation strategy runs the existing software application and new software application at the same time, comparing results.
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What is write checks?
When I write a check for rent expense, I select this QB icon.
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What is human judgement?
Although technology has automated many tasks, determining what economic activities must be entered into an AIS or calculating adjusting entries require this.
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What is the drawing account?
This account is used to record owner withdrawal of cash from the business for personal use.
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What is Time magazine man of the year?
The personal computer was this in 1982
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What is cost versus benefit?
Since you "can't have everything", there is a balancing between these two things when a new system installation is evaluated.
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What is Process payroll forms?
When I generate a form 941, reporting on payroll taxes due, I select this QB icon.
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What is a restrictive endorsement?
For deposit only in account 12347891 is one.
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What is the order by which financial statements are prepared?
Profit and loss, followed by statement of owner's equity and finally the balance sheet.
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What is a personal computer?
Equipped with a microprocessor and designed to run especially commercial software (as a word processor or Internet browser) for an individual user
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What is big bang?
Because of time constraints and Y2K concerns, the Hershey company used this implementation strategy.
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What is Receive inventory?
When I receive inventory without a bill, I I select this QB icon.
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