Define an ERP

question 4

Essay

Define an ERP.

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Definitions:

Budget Performance Report

A financial report comparing budgeted amounts to actual amounts for revenues, expenditures, and other financial elements over a period.

Cost Center Manager

An individual responsible for managing a segment of a business that does not directly generate revenue, focusing on controlling costs instead.

Income from Operations

Profit generated from a company’s main business functions, excluding income from investments and other non-operational sources.

Service Department Charges

Costs associated with the support departments of a company, such as human resources or maintenance, which do not directly generate revenue but provide essential support to operational departments.