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Explain accounting cycles and ERPs and how they are related; highlight the use of big data...

Explain accounting cycles and ERPs and how they are related; highlight the use of big data and analytics; please be specific. Discuss why an understanding of systems and accounting cycles might help in understanding, implementing, and using an ERP

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Answer : firstly about ERP system helps in enterprises systems integrate internal and external management information across an entire organization—taking on finance/accounting, manufacturing, sales and service, customer relationship management etc., and control

the connections to exterior stakeholders.
Diverse stages involved in ERP implementation are - InventoryControl, ABC Analysis, Economic Order Quantity (EoQ), Just-In-Time (JIT), Material Requirement Planning
(MRP-I), Manufacturing Resource Planning – II (MRP-II), Distribution Resource Planning (DRP), Enterprise Resource Planning (ERP), Money Resource Planning (MRPIII) and EIS-Web Enabled. Some of the "popular" ERP packages are SAP, JD Edwards, Baan, Oracle 9 i.

Accounting cycle deals with all day to day transactions such as

Collect and store data

Record transactions

Safeguarding organisational assets

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