SAP Accounting module
2a. Describe THOUGHTFULLY why it is important to understand the concepts of
Financial accounting process in ERP using SAP. (At least one paragraph)
Financial and Managerial Account is a part of financial accounting. Maintaining Payroll
data, processing payroll, maintaining General ledger for a company and generating
reports for external parties is part of Financial Accounting Module. Since SAP follows
centralized data management system, the data maintained by SAP for accounting and
payroll is correct and acquires data from all departments of the company. In addition
SAP system also includes the investment Management, Sales, Material Management,
Human Resource Module. Managerial Accounts are also cost centers internal orders,
profit analysis. Application of SAP is used to analyze organizational overhead cost from
where they are incurred within an organization. SAP is also used to collect and maintain
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cost incurred due to planning, collecting and setting cost to carry of internal jobs of an
organization and also assigning cost incurred within an organization due to activity units
within an organization. Application of this tool helps us evaluate profit and contribution
market segment of an organization. The Market segments are differentiated according
to product, sales, customer, or combination or business unit.
2b. Describe THOUGHTFULLY how you have understood the concept of Financial
Accounting process in ERP using SAP. Give two (2) examples of how you think
Financial Accounting Process in SAP can be used in any enterprise. (At least one
paragraph)
In an organization different employees in an organization enter and alter data and
it is not possible to restrict the job responsibilities to some specific task. But Since
ERP follows centralized data management system and updated data is been shared
across it becomes very easy to maintain and hence does
Financial accounting process in ERP using SAP. (At least one paragraph)
Financial and Managerial Account is a part of financial accounting. Maintaining Payroll
data, processing payroll, maintaining General ledger for a company and generating
reports for external parties is part of Financial Accounting Module. Since SAP follows
centralized data management system, the data maintained by SAP for accounting and
payroll is correct and acquires data from all departments of the company. In addition
SAP system also includes the investment Management, Sales, Material Management,
Human Resource Module. Managerial Accounts are also cost centers internal orders,
profit analysis. Application of SAP is used to analyze organizational overhead cost from
where they are incurred within an organization. SAP is also used to collect and maintain
Running Header: CSLO 2
cost incurred due to planning, collecting and setting cost to carry of internal jobs of an
organization and also assigning cost incurred within an organization due to activity units
within an organization. Application of this tool helps us evaluate profit and contribution
market segment of an organization. The Market segments are differentiated according
to product, sales, customer, or combination or business unit.
2b. Describe THOUGHTFULLY how you have understood the concept of Financial
Accounting process in ERP using SAP. Give two (2) examples of how you think
Financial Accounting Process in SAP can be used in any enterprise. (At least one
paragraph)
In an organization different employees in an organization enter and alter data and
it is not possible to restrict the job responsibilities to some specific task. But Since
ERP follows centralized data management system and updated data is been shared
across it becomes very easy to maintain and hence does