DECLARE
  CURSOR c1 IS
    SELECT account_id, oper_type, new_value FROM action
    ORDER BY time_tag
    FOR UPDATE OF status;

BEGIN
  FOR acct IN c1 LOOP  -- process each row one at a time

    acct.oper_type := upper(acct.oper_type);

    /*----------------------------------------*
     * Process an UPDATE.  If the account to  *
     * be updated doesn't exist, create a new *
     * account.                               *
     *----------------------------------------*/
    IF acct.oper_type = 'U' THEN
      UPDATE accounts SET bal = acct.new_value
        WHERE account_id = acct.account_id;

      IF SQL%NOTFOUND THEN  -- account didn't exist. Create it.
        INSERT INTO accounts
          VALUES (acct.account_id, acct.new_value);
        UPDATE action SET status =
          'Update: ID not found. Value inserted.'
          WHERE CURRENT OF c1;
      ELSE
        UPDATE action SET status = 'Update: Success.'
          WHERE CURRENT OF c1;
      END IF;

    /*--------------------------------------------*
     * Process an INSERT.  If the account already *
     * exists, do an update of the account        *
     * instead.                                   *
     *--------------------------------------------*/
    ELSIF acct.oper_type = 'I' THEN
      BEGIN
        INSERT INTO accounts
          VALUES (acct.account_id, acct.new_value);
        UPDATE action set status = 'Insert: Success.'
          WHERE CURRENT OF c1;
      EXCEPTION
        WHEN DUP_VAL_ON_INDEX THEN  -- account already exists
          UPDATE accounts SET bal = acct.new_value
            WHERE account_id = acct.account_id;
          UPDATE action SET status =
            'Insert: Acct exists. Updated instead.'
            WHERE CURRENT OF c1;
      END;

    /*--------------------------------------------*
     * Process a DELETE.  If the account doesn't  *
     * exist, set the status field to say that    *
     * the account wasn't found.                  *
     *--------------------------------------------*/
    ELSIF acct.oper_type = 'D' THEN	
      DELETE FROM accounts
        WHERE account_id = acct.account_id;

      IF SQL%NOTFOUND THEN  -- account didn't exist.
        UPDATE action SET status =
          'Delete: ID not found.'
          WHERE CURRENT OF c1;
      ELSE
        UPDATE action SET status = 'Delete: Success.'
          WHERE CURRENT OF c1;
      END IF;

    /*--------------------------------------------*
     * The requested operation is invalid.        *
     *--------------------------------------------*/
    ELSE  -- oper_type is invalid
      UPDATE action SET status =
          'Invalid operation. No action taken.'
          WHERE CURRENT OF c1;

    END IF;

  END LOOP;
  COMMIT;
END;