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.
Also found in: Financial, Acronyms, Wikipedia. An action taken in the course of conducting business. Whether manual or automated, all processes require input and generate output. Depending on the level of viewing and modeling, a process can be a single task or a complicated procedure such as building a product. A business information system process typically means updating a database from a transaction such as an order or application form (transaction vs. master). See transaction, business process modeling, business processing and information system.