ERP Systems Are Full of Technical Jargon, Which Is Why

question 103

Short Answer

ERP systems are full of technical jargon, which is why employee __________ is one of the hidden costs associated with ERP implementation.

---

Definitions:

External Auditors

Independent experts who evaluate a company's financial statements to ensure accuracy, compliance, and fairness in reporting.

Management

The process of planning, organizing, leading, and controlling resources within an organization to achieve its objectives.

Gross Profit

Gross Profit is the revenue from sales minus the cost of goods sold, indicating the profitability of a company before accounting for operating expenses, interest, and taxes.

Average Cost Method

A technique for inventory valuation and cost determination that calculates inventory and cost of goods sold based on the average price of all units available during the period.