📝 One-liners · 36 cards
Accounting in Computerized Environment
Data — Meaning / Banking Example?
Meaning: Any facts, observations, assumptions or occurrences. In accounting, data are the entries used to prepare financial statements.; Banking Example: Price, sales tax, GST rate, date of sale, customer ID on a sales invoice.
Record — Meaning / Banking Example?
Meaning: A group of related data items concerning ONE object of data processing.; Banking Example: A single sales invoice; one customer's KYC record; one cheque clearing entry.
Data File / File — Meaning / Banking Example?
Meaning: A compilation of related records maintained in some pre-arranged order.; Banking Example: Payroll file of 1,000 employees; SB account master file of a branch.
System — Meaning / Banking Example?
Meaning: Various components that process data (transactions) and produce outputs.; Banking Example: In manual accounting: persons + books of account trial balance. In CAS: computer + software + peripherals reports.
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