Chapter 6 Key Words

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These are the key words in Chapter 6, Purchases & Payments Business Process.
JACKSON BOEVE
Flashcards by JACKSON BOEVE, updated more than 1 year ago
JACKSON BOEVE
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Accounts Payable Amounts owed to suppliers for goods and services received, calculated based on receipts (purchases) from each supplier less than corresponding payments (cash disbursements) to suppliers.
Agents The people or organizations are participating in business events.
Cash The organization’s monies are in a bank or related accounts, and the class instances are individual accounts, considered a resource.
Cash Disbursements Record cash payments to external agents (e.g., suppliers) and the corresponding reduction in cash accounts. This is considered an event.
Choreography The science of examining raw data (now often Big Data), removing excess noise from the dataset, and organizing the data to conclude decision-making.
Collaboration A BPMN model shows two participant pools and their interactions within a process.
Events (UML) Classes that model the organization’s transactions usually affect the organization’s resources, such as sales and cash receipts; (BPMN), important occurrences that influence the flow of activities in a business process, including start, intermediate, and end events.
Gateway Shows process branching and merging as the result of decisions. Virtual gateways are depicted as diamonds. Usually, gateways appear as pairs on the diagram. The first gateway shows the branching, and the second gateway offers to merge the process branches.
Intermediate Event It occurs between start and end events and affects the flow of the process.
Intermediate Timer event Intermediate events indicate a delay in the usual process flow until a fixed amount of time has elapsed.
Many-to-many relationship It exists when instances of one class (e.g., sales) are related to many examples of another type (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.
One-to-one relationship When instances of one class (e.g., sales) are related to only one example of another type (e.g., cash receipts), each instance of the other class is related to only one example of the original style.
Orchestration In BPMN, the sequence of activities within one pool.
Product A class represents the organization’s goods held for sale—the organization’s inventory. This is considered a resource.
Purchase Discount An offer from the supplier to reduce the purchase cost if payment is made according to specified terms, usually within a limited time.
Purchase Order A commitment event precedes the economic purchase event. It records formal offers to suppliers to pay them if the supplier complies with the purchase order terms.
Purchases Records the receipt of goods or services from a supplier and the corresponding obligation to pay the supplier. These are considered events.
REA Resource-event-agent framework for modeling business processes, initially developed by William McCarthy.
Receipt Same as the event of the purchase.
Resources Those things have economic value to a firm, such as cash and products.
Subprocess Represent a series of process steps that are hidden from view in BPMN. The use of subprocesses in modeling helps reduce complexity.
Suppliers In the UML diagram of the purchases and payments process, the external agents from whom goods and services are purchased and to whom payments are made.
Timer Events Indication of a delay in the flow of a process to a specific date, an elapsed time (e.g., 30 days), or a relatively repetitive date, such as every Friday.
Type Image A class representing management information (such as categorizations, policies, and guidelines) to help manage a business process. Type image often allows process information to be summarized by category.
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