Competitive Analysis of AMD and Intel

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In this essay I have explained the importance of computerised accounting using ERP solutions. First I explain various accounting processes in a company in two broad classes. Then I explore various features in the mySAP ERP solution and how they cater to these processes. Then I explain the recent changes in accounting standards due to the Sarbanes Oxley act and their repercussion to the design of ERP solutions. Then I explained how mySAP helps companies to be compatible with the regulation. The success of ERP implementation is based on various factors. I have researched 3 famous failure and 3 famous success stories in ERP implementation and explained the effect on the companies. Classification of accounting methods

Accounting process in corporate environment is divided into two parts: financial and management accounting. They are differentiated by the users of the respective accounting information. Different types of stakeholders in a business have different accounting needs. These classifications cater to the different needs. Financial accounting is aimed to cater to the needs of external stakeholders like shareholders, financial analysts, banks etc. They describe the performance of the company over a specific accounting period and the state of the company at the end of that period. Companies in most countries are required by law to publish financial reports periodically. The format of these reports are determined by various regulatory elements like accounting standards, company law etc. Financial accounting provides information regarding the historical performance of the company over the accounting period. The amount of detail in the reporting is generally restricted and is at the discretion of the company. They are helpful for external stakeholders to understand the financial performance of the company. The four main parts of a financial report are the four financial statements, which provide a summary of the company performance. Management notes to the financial statements provide some amount of detailed explanations to the financial statements. Management accounting on the other hand is a system of accounting developed to aid the management to keep a track of the financial performance of the company on a day to day basis. They are managed on a regular basis unlike financial accounting, which is accounting period based. It helps the management control financial performance of the business and aid the decision making. Management accounting cycle has four main aspects: 1) During the period the management has to analyse the transactions, record journal entries and then post the amounts in the ledger accounts of the respective accounts. 2) When the period ends, they have to adjust the revenue, expense accounts to settle the balance sheet accounts. 3) Prepare complete set of financial statements.

4) Close revenues, gains, expenses and losses to retained earnings. There are no legal requirements to maintain this system. It is only maintained to aid the management. They are generally very detailed and as basic as possible. They may also include non financial information like sales volumes, employee count etc. Additionally they may include estimates of future performance rather than only historical transactions. SAP has features to aid the both the classes of accounting. For financial accounting, the features include: * General ledger

* Accounts receivable/accounts payable
* Fixed Assets accounting
* Inventory accounting
* Accrual accounting
* Tax accounting
* Financial statements
For assisting management accounting, the features include:
* Profit centre accounting
* Cost Centre and Internal Order Accounting
* Project Accounting
* Investment Management
* Product Cost Accounting
SAP features
Financial accounting
General Ledger transactions
This forms the central component of the SAP financial ERP system. It forms a unified platform for...
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