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Chapter 16

General Ledger & Reporting System

TermDefinition
Journal Voucher File Updating the General Ledger) Individual entries used to update the GL are stored here; Contains info that would be found in the general journal, including date of J/E, accounts DR/CR, and amounts; Not an input to the posting process
Instance Document The XBRL file that contains the tagged data that is delivered to users; Contains facts about specific financial statement lines, including values and measurement units, for a point in time or a period of time.
XBRL Extensible Business Reporting Language; A special programming language designed to facilitate the communication of business information; SEC requires 500 largest public companies to use it.
Element Each specific data item in an XBRL; Angel brackets used to ID tags; Two tags per element
Balanced Scorecard A report that provides a multidimensional perspective to org performance; 4 measures: Financial, Customer, Internal Ops, Innovation & Learning
Financial (Balanced Scorecard) Goals: New revenue streams, Improve profits, Positive cash flow; Measure: Sale of new products, ROE, Cash from Ops
Customer (Balanced Scorecard) Goals: Improve satisfaction, Be a preferred supplier; Measures: Rating (0-100), % of key customer electronics purchases made from us
Internal Ops (Balanced Scorecard) Goals: Service Quality, Speed of delivery, Process efficiency; Measures: Orders filled w/o error, Order cycle time, Defect Rate
Innovation & Learning (Balanced Scorecard) Goals: # of new products, Personnel attending advanced, Training
XRBL taxonomy Sets of files that define the various elements and relationships between them
XBRL schema A file that contains the definitions of every element that could appear in an instance doc
Element attributes Name, Description, Data type, Balance type, Period type
XBRL Style Sheet Provides instruction on how to appropriately display the content of an instance doc, either on a computer or report
XBRL linkbase Set of files that define relationships among elements; Important linkbases include Reference, Calculation, Definition, Presentation, Label
Responsibility Accounting Evaluates performance by showing reports that highlights results; Produces a set of correlated reports that break down the org's overall performance by the specific subunits that control these activities
Flexible budget Budgeted amounts vary in relation to some measure of org activity; Allow for more detailed analysis of variances between standard costs and actual costs
Created by: ronniemad