Role of ERP In Enhancing the Accuracy of Financial Reporting

Abstract

Abstract

Nowadays, the adoption of economic unity on the accuracy of financial reporting is very important. Economic units need accurate financial reporting to be more competitive and to improve the performance. Management can also achieve financial information in real time through the application of ERP systems. This system will facilitate management to access the most up-to-date information such as planning, monitoring and evaluating the business processes of the organization to be more effective.

On the practical side, the Enterprise Resource Planning (ERP) system was applied to the General Company for Vegetable Oils to demonstrate a course in enhancing the accuracy of financial reporting.

The researchers reached several conclusions, the most important of which is that the company's resource planning system differs from other systems, not only within the economic unit, but also to include outside activities.

The most important recommendations of the study:

1- The need to automate the accounting information system of the Economic Unit in the case of integration with the ERP system with a unified database.

2- Although there is a cost to use a system with the enterprise resource planning system, we recommend that it be used because it is accurate in the financial reporting process.