Competitive Analysis of AMD and Intel
Introduction
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
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
References: 1. “Analysing ERP failures in Hershey” (2008) http://www.erpwire.com/erp-articles/failure-story-in-erp-process.htm [01/09/2010] 2 5. Manish Patel (2006) “SAP Account Determination” SAP-Press publications 6 [ 4 ]. “Analysing ERP failures in Hershey” (2008) http://www.erpwire.com/erp-articles/failure-story-in-erp-process.htm [01/09/2010] [ 5 ] [ 6 ]. “Waste Management sues SAP over software quality” (2008) http://www.reuters.com/article/idUSN2644069820080326 26/3/2008 [31/08/2010] [ 7 ]