Configuration is a major implementation task in which business and functional settings in the ERP system are changed to make the “out of the box” software support the customer’s business needs. Configuration does not make any changes to the core software code, but instead updates tables with settings and entries specific to the customer’s business. Called configuration tables, these tables enable a company to tailor a particular aspect of the system to the way it chooses to do business. Project team
Words: 1017 - Pages: 5
tAccounting Basics Important Disclaimer Important Note: The text in this chapter is intended to clarify business-related concepts. It is not intended nor can it replace formal legal advice. Before taking any actions relating to your business, always consult your accountant or a business law/tax attorney. The Need for Accounting Every organization needs to maintain good records to track how much money they have, where it came from, and how they spend it. These records are maintained by using
Words: 10549 - Pages: 43
options: a. a patent on a new invention b. a copyright on a musical work c. an estimated amount of coal in a piece of owned land that has not yet been mined d. a contract granting the company a right-of-way Question 4 (5 points) Which is NOT an advantage of a corporation compared with a partnership or sole proprietorship? Question 4 options: a. The corporation's existence is unaffected by the death of an owner. b. Owners enjoy limited liability. c. It is easier to raise large amounts of capital
Words: 905 - Pages: 4
2008 CFA Level 1 － Mock Exam 1 （AM）模考试题 Q1-5 Question 1 Accepting an incentive offered by a client to a portfolio manager, such as a free vacation or a cash bonus, to reward good performance in a future period is: A) a violation of the Standards. B) not a violation of the Standards as long as client confidentiality is maintained. C) a violation of the Standards unless the manager gets written consent from her employer. D) not a violation of the Standards as long as the manager
Words: 9440 - Pages: 38
Bryan Haslam Dear Mary Schapiro, There are some great arguments and reasons for either converging or full on adopting International Financial Accounting Standards. The first reason is the most obvious as it is one of the main purposes of the existence of the IFRS’s: keep up with an ever-flattening, ever-globalizing world. IFRS is already enabling many countries to speak the same business language by using the same set of accounting and financial reporting standards. This set of standards is
Words: 889 - Pages: 4
of inputs into outputs or products to be sold. This involves: * planning activities * purchasing inputs * managing inventory * selecting and implementing manufacturing processes * Developing strategies to gain a sustainable competitive advantage. | The strategic role of managementA strategic decision is one that affects the business in the long term. The strategic goals areto improve: * productivity * efficiency * quality of outputsTherefore, all strategic decisions will focus
Words: 6091 - Pages: 25
ACC 304 Discussion Questions Week 1-11 Follow www.hwmojo.com link below to purchase solution http://www.hwmojo.com/products/acc304-discussions We have all assignments, homework problems, quizzes. Midterm exam and final exam for ACC 304 class. Email us support@hwmojo.com ACC 304 Week 1-11 Discussion Question Solutions Week 1 DQ 1 "Convergence" Please respond to the following: • From the e-Activity, provide an analysis of the current status of the convergence of GAAP
Words: 3096 - Pages: 13
GAAP-related Adjustments: Certain accounting treatments, while allowed by GAPP and therefore “perfectly legal” tend to create major distortions in the reported results. These types of changes actually do change the bottom line numbers 1. The LIFO valuation method for inventory 2. Lease arrangements that qualify as operating leases Leading arrangements are generally classified as either operating leases or capital leases. Because of the accounting treatments allowed by GAAP, operating leases
Words: 23400 - Pages: 94
CPA Report Michelle Richardson ACC/545 Internal Control Systems September 10, 2012 Jeffrey Mitchell Memo Accounting Professionals, Inc. To: Management From: Michelle Richardson CC: Jeffrey Mitchell Date: September 10, 2012 RE: CPA Report ________________________________________________________________________ Per your request, this memo provides explanations regarding a subsidiary that has recently been set up as a corporation. This explanation includes the procedures for reporting
Words: 1249 - Pages: 5
International Financial Reporting Standards The application of IFRS is spreading all over the world as a result of the development of world economy and increasing transactions among countries and nations. For many years, even now, different countries have different account standards, such as U.S. GAAP, Japan GAAP, and IFRS are mainly adopted by European countries. In recent years, many countries accepted or acknowledged standards used in other countries. In America, for example, the SEC issued
Words: 1263 - Pages: 6
