Chapter 7 Key Terms

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Flashcards for Chapter 7 Key Terms for Accounting Information Systems at Peru State College.
Tayler Shellhase
Flashcards by Tayler Shellhase, updated more than 1 year ago
Tayler Shellhase
Created by Tayler Shellhase over 1 year ago
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Agents The people or organizations, like customer or salespeople, who participate in business events.
Events (UML) Classes that model the organization’s transactions, usually affecting the organization’s resources, such as sales and cash receipts; (BPMN) important occurrences that affect the flow of activities in a business process, including start, intermediate, and end events.
Finished Goods Inventory The inventory (REA resource), for a manufacturing company, that has completed the manufacturing process and is held for sale to customers.
Gateway Shows process branching and merging as the result of decisions. Basic gateways are depicted as diamonds. Typically gateways appear as pairs on a diagram. The first gateway shows branching, and the second shows merging of the process branches.
Intermediate Error Event Occurs between start and end events and affects the flow of the process. Intermediate error events represent interruptions to the normal flow of the process and start the exception flow.
Labor Operations Event An event in the conversion process that represents the recording of labor costs applied to work-in-process.
Many-To-Many Relationship Exists when instances of one class (e.g., sales) are related to many instances of another class (e.g., inventory) and vice versa. These relationships are implemented in Access and relational databases by adding a linking table to convert the many-to-many relationship into two one-to-many relationships.
Product Authorization Event An event in the UML class model of the conversion process that records the authorization to produce one or more finished good inventory items.
Raw Material Issue Event An event in the UML class diagram of the conversion process that records the transfer of ran materials into work-in-process.
Raw Materials Inventory The inventory, for a manufacturing company, acquired for use in the manufacturing process.
REA Resource-event-agent framework for modeling business processes, originally developed by William McCarthy.
Resources Things that have economic value to a firm, such as cash and products.
Type Image Class that represents management information to help manage a business process. Type image often allows process information to be summarized by category.
Work-In-Process Inventory For a manufacturing company, the value of raw materials, direct labor, and manufacturing overhead in production but not yet finished.
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