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A General Rule of Thumb Is That the Actual Time

question 48

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A general rule of thumb is that the actual time to implement an enterprise resource planning (ERP)system may range from 1.5 to 2 times longer than the time period specified by the ERP vendor.


Definitions:

Entry Posted

The action of recording an accounting entry in the ledger, which finalizes the transaction and makes it part of the financial records.

Debit

A bookkeeping record that causes assets to go up or liabilities to go down on a firm's balance sheet.

Equipment

denotes tangible assets used in operations, such as machinery or office equipment, which have a useful life beyond one accounting period.

Liability

A company's financial debt or obligations that arise during the course of its business operations.

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