Enterprise resource planning (ERP) is a cross-functional enterprise system driven by an integrated suite of software modules that supports the basic internal business processes of a company. ERP gives a company an integrated real-time view of its core business processes such as production, order processing, and inventory management, tied together by ERP applications software and a common database maintained by a database management system. ERP systems track business resources (such as cash, raw materials, and production capacity) and the status of commitments made by the business (such as customer orders, purchase orders, and employee payroll), no matter which department (manufacturing, purchasing, sales, accounting, and so on) has entered the data into the system. ERP facilitates information flow between all business functions inside the organization, and manages connections to outside stakeholders.
Tag Archives: Financials
During the recent years, being an accountant had become an ambition for all students, today I want to set the light on the challenges that are facing accountants all the time, and understanding these challenges will help you to work harder for becoming a good one
One of the challenges that are facing the accounting profession is keeping up to date on the daily challenges of accounting and auditing such as IFRS and ISA.
As being an accountant, you have do accounting of complex transactions like fair values and valuations, and you can’t be a good accountant unless you have a technical knowledge of the advance technological applications for accounting goals, as in SAP, Oracle and Spreadsheets.
Accounting is one of the professions that are facing a lot of challenges.