Explain the benefits of an enterprise resource planning (ERP) application to multinational organizations
What will be an ideal response?
ERP brings huge benefits to multinational organizations. International ERP solutions are designed to work with multiple currencies, manage international transfers of goods in inventories, and work effectively with international supply chains. Even more important, ERP solutions provide a worldwide consolidation of financial statements on a timely basis. As a result, they can produce one set of financial reports, better analyze where costs could be saved, and identify where production can be optimized. While it is advantageous for these international firms to consolidate all their operations within one large ERP implementation, called a single instance, some firms maintain multiple instances, or an ERP for each country, business unit, or region. For these firms, the advantages of one set of data, a single financial system and worldwide process standards are outweighed by the cost of consolidating or the disparity among divisions.
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With these types of questions the value is placed on the personal response and the range of data gathered may well be quite diverse, presenting challenge to categorize and group.
a. Closed-ended questions" b. Open-ended questions c. Unstructured questions d. Qualitative research studies e. Confounding factors
Your Best Advisors, a service company, uses reversing entries
On March 31, 2016, they journalized and posted the following adjusting entry to accrue Utilities Expense: Utilities Expense 400 Utilities Payable 400 Which of the following entries is the correct reversing entry to be prepared on April 1, 2016? A) Utilities Payable 400 Utilities Expense 400 B) Utilities Expense 400 Income Summary 400 C) Cash 400 Utilities Expense 400 D) Utilities Expense 400 Accounts Receivable 400