Register now or log in to join your professional community.
Mr.Frank,
Greetings to you,
An ERP well configured with Account Setup will take care all the financial transactions that flows in and out. Which is understood as automated ERP system. But, when there is need of evaluation or manual approval or any kind of adjustments on posting of any financial transactions, lets say if these situations are mandatory and are not taken care, it is going to be tiring day for an accountant.
Regards.
Ram
ERP system are very useful for any organization, by using this all information can be stored related to different departments at one place (the database is able to retrieve all information). They are interlinked and that's why anyone new entry shows the effect the very sametime on all impacted parties.
For Management accountants - They are able to retrieve all information quickly and at one place then its becoming very effective to gather the Information quickly and take decisions in very short time with Detailed Analysis.
An ERPS is designed to integrate all the different applications included in a management information system as such allowing a single point of access to all data.Therefore it should reduce the workload of management accountants. It is important to note that traditionally gather data from across the organization using a. variety of sources and synthesise this data to produce reports to management.
An ERPS allows managers to run reports themselves from the management information system there by cutting out the need to ask the management accountant to produce these reports. IT specialists who make sure the system is installed and running properly oversee the ERPS.
Nevertheless the management accountant is instrumental in the specification for the ERPS as a Major user and overseer for audit purposes. The management accountant can also advise managers using the ERPS who may need guidance when producing budgeting and monitoring statements.
You should also note that the management accountant may also use the ERPS in a more strategic role for reporting to the board on high level data
The effects of these systems on organizational decision making, power relations within the organization and the role of the management accountant will be investigated, The scope of this study is not to investigate the reasons for the actual change, but rather what is affected by this change. First of all, the reasons for implementing such ERPS will be vary from strategic incentives such as the reduction of uncertainty, the integration of information along the entire value chain due to for instance the current globalization, the introduction of new accounting systems, … to the more practical day-to-day motivations such as the faster delivery of information, the possible cost reduction, the urgent upgrade of the outdated legacy systems,
Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.
