Explain the Nature of the Database Component of an ERP

question 11

Essay

Explain the nature of the database component of an ERP solution.

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Definitions:

U.S. GAAP

United States Generally Accepted Accounting Principles, a set of rules and standards for financial accounting and reporting in the United States.

Measuring Impairment

The process of evaluating assets for any reduction in their recoverable amount, leading to a write-down or adjustment in financial statements.

Preferred Shares

A type of stock that gives holders preferential treatment over common stockholders, usually with fixed dividends and priority during liquidation.

Sale and Leaseback

A financial transaction where one sells an asset and immediately leases it back from the buyer, typically used for freeing up capital tied up in assets.