Interrelation of ERP System in Accounting and Emergence of New Accounting Practices

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ERP system is an online based system which is developed recent years in order to make the communication process more efficient and effective. In each and every area of an organization there is an implementation of ERP system and now it is merged with the accounting rules in order to develop new practices. This paper helps to extend the knowledge by identifying how software based accounting tool can work effective within an organization. The research is based on some empirical data to show the implementation of new ERP system in a manufacturing firm at Australia. This study shows how the ERP system is having importance not only on the post modification of the information system it has also extended its area and changes the application of previous non linear accounting. The analysis of our data pointed out that it is not very easy to capture ERP packages in the management accounting methods even if the technology has upgraded a lot. The cost of implementation of the ERP system is very high so it is not affordable by all the firms. Following are some research questions

Why the manufacturing sector is willing to implement the ERP system and how it creates impact on its previous record keeping system?

What is the cost of adopting the system in the process?

What are the new areas that are solved by the ERP process?

References

Kishali, Y., Sharma, H. and Gupta, R. (2013). ERP system integrated accounting course: an analysis of students' viewpoints. American J. of Finance and Accounting, 3(1), p.77.

Li, C. (2011). Research on Application Strategy for ERP System in Enterprise Accounting Informationization. AMR, 403-408, pp.426-431.

Yao, G. and Yang, L. (2014). Internal Control Research of Accounting Information System Based on the ERP Environment. AMM, 556-562, pp.5790-5793.

Zeng, Y. and Li, Y. (2014). Research on the Process and Application of ERP System in Enterprise Accounting. AMM, 686, pp.205-209.