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31 an enterprise resource planning erp system is a single database that collects dat 4301387



31) An Enterprise Resource Planning (ERP) System is a single database that collects data and feeds into applications that support each of the company's business activities, such as purchases, production, distribution, and sales.


32) Financial accounting provides an organization's past-oriented information such as the previous years' financial statements.


33) Cost management not only helps reducing costs but also improving customer satisfaction and the quality of a firm's products.


34) For each report listed below, identify whether the major purpose of the report is for (1) routine internal reporting, (2) nonroutine internal reporting, or for (3) external reporting to investors and other outside parties.


Item: detailing sale information of the top-ten selling products

b.weekly report of total sales generated by each store in the metropolitan area

c.annual Report sent to shareholders

d.monthly report comparing budgeted sales by store to actual sales

35) Describe management accounting and financial accounting.


36) Cost accounting provides information for both management accounting and financial accounting professionals. Explain.




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