A very good reason that leads to the failure of ERP implementation is the
- Lack of communication within an organization
<h3>What is ERP implementation?</h3>
This can be described as the integration of a great number of functions in the business environment.
Some of the functions that are integrated are:
- Human resources
- Financial management
- Sales
ERP stands for Enterprise Resource Planning.
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Answer & Explanation:
<u>a.- Revenues: </u>Increase for 3.2 millions
It will be recognize for the entire order, as it was deliveried entirely within the accounting period.
<u>b.- Earnings: </u> Increase for 1.5 millions
The earnings for the business will be the net between the revenues and expenses.
3.2 revenues - 1.7 expenses = 1.5 earnings
<u>c.- Receivables: </u> Increase for 1.8 millions
It will increase for the unpaid portion ofthe order.
<u>d.- Inventory</u> Decrease for 1.7 millions
It will decrease for the entire cost of the order, as it was within this accounting period both, revenues and the expense related to it, will be recognize.
<u>e.- Cash:</u> Increase for 1.4 millions
It will increase for the amount received from the customer. As it was no payment from the business in the transaction.
Answer:
Annual depreciation= $7,996
Explanation:
Giving the following information:
Purchase price= $42,000
Useful life= 5 years
Salvage value= $2,020
<u>To calculate the annual depreciation under the straight-line method, we need to use the following formula:</u>
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (42,000 - 2,020) / 5
Annual depreciation= $7,996
Answer:
$60000
Explanation:
Given: Sales = $300000.
Cost of goods available for sale= $270000.
The gross profit ratio= 30%
First finding the gross profit out of total sales.
Gross profit= 
Gross profit= 
∴ Cost of goods sold= 
Cost of goods sold= 
Cost of goods sold= 
Hence, cost of goods sold=
Now, finding estimated cost of the ending inventory.
Cost of ending inventory= 
⇒ Cost of ending inventory= 
∴ Cost of ending inventory= 
Hence, estimated cost of the ending inventory under the gross profit method would be $60000.
Answer:
A low asset turnover compared to the industry implies Net income is low relative to the investment in assets.
Explanation:
Asset turnover is the ratio of total sales or revenue to average assets. It is a measure used to gauge how effectively companies are using their assets to generate sales.
Higher turnover ratios mean the company is using its assets more efficiently. Lower ratios mean that the company isn't using its assets efficiently and most likely have management or production problems.
The asset turnover ratio measures the value of a company's sales or revenues relative to the value of its assets
If a company has a low asset turnover ratio, it indicates it is not efficiently using its assets to generate sales.
