Question

How does an enterprise resource planning (ERP) system differ from an entry-level computerized account -ink system?

How does an enterprise resource planning (ERP) system differ from an entry-level computerized account -ink system?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

An ERP software goes far beyond any accounting software. ERP is capable of tracking tangible and intangible assets, order fulfilment, invoicing, inventory management, production management, job costing, reporting, Human Capital Management, Customer Relationship Management etc

However, accounting software deals only with the financial aspect of operations by recording business transactions: AR/AP, journal entries, and general ledger utilized to produce basic financial reports like income statements and balance sheets.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Explain the scope overview of the Enterprise Resource Planning (ERP) system implementation at company.
Explain the scope overview of the Enterprise Resource Planning (ERP) system implementation at company.
n a recent study of enterprise resource planning? (ERP) system? effectiveness, researchers asked companies how they...
n a recent study of enterprise resource planning? (ERP) system? effectiveness, researchers asked companies how they assessed the success of their ERP systems. Out of 390 manufacturing companies? surveyed, they found that 179 used return on investment? (ROI),160 used reductions in inventory? levels,36 used improved data? quality, and 15 used? on-time delivery. In a survey of 640 service? firms,290 used? ROI,270 used inventory? levels,50used improved data? quality, and 30 used? on-time delivery. Is there evidence that the measures used to...
German Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size...
German Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size companies around the world. Software development started during 2018, during which time $45 million was incurred. During 2019, and additional $60 million was incurred, with $10 million of this incurred after technological feasibility of the new software had been established. Record the journal entry for the 2019 software development costs.
German Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size...
German Company, PAS software is developing an ERP (Enterprise Resource Planning) system for sale to mid-size companies around the world. Software development started during 2018, during which time $45 million was incurred. During 2019, and additional $60 million was incurred, with $10 million of this incurred after technological feasibility of the new software had been established. Record the journal entry for the 2019 software development costs. Refer back to question above. Assume this product was released to customers in early...
12)A mid-sized company has decided to implement an enterprise resource planning (ERP) system, and management suspects...
12)A mid-sized company has decided to implement an enterprise resource planning (ERP) system, and management suspects that many of its employees are concerned about the planned implementation. Managers are considering holding informational workshops to help decrease anxiety levels among employees. To determine whether such an approach would be effective, they randomly select 16 employees to participate in a pilot workshop.  These employees were given a questionnaire to measure anxiety levels about ERP before and after participating in the workshop. To determine...
Consider a manufacturing and a service business you know that would benefit from enterprise resource planning...
Consider a manufacturing and a service business you know that would benefit from enterprise resource planning (ERP) or from materials resource planning (MRP) improvements. What specifically would the ERP fix in each case (manufacturing and service arenas) and how will the organizations get payback from implementing the ERP changes? What hidden costs would you caution higher management to consider in each case? PS please provide an answer different from the one already presented on this website
DigiTech, Inc. licenses enterprise resource planning (ERP) software to Big Cereal Company. In addition to providing...
DigiTech, Inc. licenses enterprise resource planning (ERP) software to Big Cereal Company. In addition to providing the software, DigiTech contracts to extensively customize the software according to Big Cereal's specifications, for total consideration of $500,000. The software is not usable until the customization is completed by DigiTech. How many performance obligations does this contract include? Explain the rationale of your answer.
What is the potential of BI (Business Intelligence) in ERP (Employment Resource Planning) System? Refer and...
What is the potential of BI (Business Intelligence) in ERP (Employment Resource Planning) System? Refer and cite scientific papers in your answer. Word limit 1000 words
Bloomingtech is an Enterprise Resource Planning (ERP) software development corporation which specializes in providing technological solutions...
Bloomingtech is an Enterprise Resource Planning (ERP) software development corporation which specializes in providing technological solutions for firms to better manage their businesses. Being in the technology industry, research and development (R&D) is one of the largest expenditures. For example, in the second quarter of fiscal year 2018 alone, Bloomingtech’s internal books reveal that the company has generated the following R&D expenditures directly attributable to the software they plan to develop and sell: - Incurred $5,000,000 as an effort to...
Betty and Tony Abscond have hired you to overview their Enterprise Resource Planning (ERP) system for...
Betty and Tony Abscond have hired you to overview their Enterprise Resource Planning (ERP) system for their business Looking for Love? (LFL), an online dating site. They have requested this review as a result of a recent media release they read on the Australian Competition and Consumer Commission (ACCC) website titled "Scams cost Australians half a billion dollars": https://www.accc.gov.au/media-release/scams-cost-australians-half-a-billion-dollars Betty and Tony are concerned that clients may be potential targets for internal and external fraud based on this media release....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT