Class Notes Each class has notes available. Most of the classes have practice problems with solutions available on the practice problems pages. Also most classes have assignment problems for instructors to assign for homework (answers/solutions to the assignment problems are not given or available on the site).
Definition. The accounting definition of a business transaction, according to the online Business Dictionary, is an economic event that initiates the accounting process of recording it in a company's accounting system.. This is the official definition.imple Transactions. Some transactions are simple exchanges. Paying two dollars for a cup of coffee is a business transaction. Getting a haircut, eating at a restaurant, even buying something expensive like a washer or dryer can be a simple transaction.
Each transaction cycle involves several events. Business Processes Three main transaction cycles: An acquisition (purchasing) cycle is the process of purchasing and paying for goods/services. A conversion cycle is the process of transforming resources acquired into goods/services.NFORMATION SYSTEMS. Central Themes of This Text Business processes Information systems Business Processes A sequence of activities: for acquiring goods and services for producing goods and services for selling goods and services Business Processes Models of business processes viewed in terms of transaction cycles.