ERP Financial and Accounting

1. Describe the differences between financial and managerial accounting (provide real life example). 2. Identify and describe problems associated with accomting and financial reporting in unintegrated information systems (provide real life example). 3. Explain how ERP systems can help solve accounting and financial reporting problems that occur in an unintegrated system (provide real life example). 4. Understand how the Enron scandal and the Sarbanes-Ofley Act of 2002 have affected accounting information systems (provide real life example). 5. Outline the accounting and management-reporting benefits that accrue from having an ERP system (provide real life example). 6. Explain the importance of Extensible Business Reporting Language (XBRL) in financial reporting (provide real life example).        

Sample Solution