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Chapter 16
General Ledger & Reporting System
| Term | Definition |
|---|---|
| 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
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