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The key to successful business operations is effective inventorymanagement. Discuss how this affects the financial statements of abusiness as a whole.

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Irving Heathcote
Irving HeathcoteLv2
28 Sep 2019

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The key to successful business operations is effective inventory management. Discuss how this affects the financial statements of a business as a whole.

1. All of the following are major ERP vendors, except_____________.

SAP

Oracle

Baan

Salesforce.com

JD Edwards

2. When the chief financial officer of a company wants a reporton business units who have spent 10 percent more than theirallotted budget, she would be requesting which type of report?

Ad hoc

Detailed

Key indicator

Routine

Exception

3. All of the following are goals of ERP, except:

Increased production

Reduced production time

Improvements of legacy systems

None of these answers are correct

Improved customer service

4. All of the following statements are false, except:

Automation and downsizing are examples of Business ProcessRe-engineering.

Queuing Analysis if one type of qualitative analysis of abusiness process.

A key Business Process Re-engineering principles says thatprocesses should be organized around tasks, not outcomes.

Added-Value Analysis is one type of qualitative analysis of abusiness process.

Business Process Re-Engineering does not question the currentprocess design.

5. All of the following statements are true, except:

Claim-to-Settlement is not an example of a business process.

The customers of a business process can be either internal orexternal.

Procure-to-Pay is an example of a business process.

The Continuous Process Improvement approach does not questionthe current process design.

A business process can lead to either a positive or a negativeoutcome.

6. To effectively manage by exception (i.e., use exceptionreports), the company must first create:

performance standards

a database

best practices

user information requirements

employee evaluation guides

Compare and contrast the tax rules and treatment applicable tocorporations and partnerships. Indicate the major way in which thetax treatment affects the shareholders or partners. Explain atleast two (2) reasons why a business owner might opt to become apartnership over a corporation. Provide support for your rationale.Imagine that you are a consultant and make the recommendation thatthe most advantageous business structure is a C-corporation.Justify why you would recommend a Corporation over a Partnership.Indicate tax rules that influenced your decision. Analyze what abusiness owner must consider when deciding what type of entity isbest for the goals and vision of the business. Provide at least two(2) examples of research the owner must perform to ensure theproper election is made. Provide support for your rationale. Use atleast two (2) quality academic resources in this assignment.

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