John Is Going to a Conference to Get Training in the Area

question 74

Essay

John is going to a conference to get training in the area of enterprise systems.Upon his return he needs to be able to instruct upper management at his firm on "How do enterprise systems help businesses achieve operational excellence?" Describe how he should answer that question.

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Definitions:

Receivables

Funds that customers or clients owe to a business for products or services delivered on credit.

Estimated Bad Debts

The portion of accounts receivable that a company does not expect to collect.

Carrying Amount

The recorded cost of an asset in a company's financial statements, less any accumulated depreciation or amortization.

Allowance for Doubtful Accounts

A contra-asset account used to reduce accounts receivable to its net realizable value by estimating uncollectible debts.