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• Give get exchange -Transactions that happen a great many times, such as giving up cash to get Inventory from a supplier and giving employees a paycheck in exchange for their labor.
• Transaction Processing - Process of capturing transaction data, processing it, storing it for later use, and producing information output, such as a managerial report or a financial statement.
• transaction - is an agreement between two entities to exchange goods or services or any other event that can be measured in economic terms by an organization.
• Business Process - set of related, coordinated, and structured activities and tasks, performed by a person, a computer, or a machine that help accomplish a specific organizational goal.
• financing cycle - where companies sell shares in the company to investors and borrow money, and where investors are paid dividends and interest is paid on loans
• expenditure cycle - where companies purchase inventory for resale or raw materials to use in producing products in exchange for cash or a future promise to pay cash.
• revenue cycle - where goods and services are sold for cash or a future promise to receive cash.
• human resources cycle - where employees are hired, trained, compensated, evaluated, promoted, and terminated.
• Transaction cycles - The major give get exchanges that occur frequently in most companies
• production cycle - where raw materials are transformed into finished goods.