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Accounting in ERP Systems
helps management discharge its planning and controlling roles better. Why do you think
flexible budgeting would be more achievable with an ERP system? List your reasons, and
explain.
7. Using the Internet, research the status of the government regulations in the United States
concerning the requirements of companies publicly traded to adopt IFRS. The SEC Web
site (www.sec.gov) is a good source of information on this topic. Report any updates to the
requirements. 157
8. Review Fitter’s unintegrated production and purchasing procedures, described in Chapter 4.
How would its current job-scheduling, production, and purchasing procedures result in
variances from standard costs? Why would Fitter have trouble researching these costs at
month’s end to adjust the “standard costs per unit” to accurate “actual costs per unit”?
9. Investigate the adoption of XBRL by companies, and report on the status of XBRL
implementation at this point in time.

For Further Study and Research
Barnhart, Todd M. “The Financial Supply Chain.” Darwin Magazine, April 2004.
Bloomberg News. “Lawyer Who Negotiated Enron Settlements Retiring.” August 28, 2007.
The Economist. “Sarbanes-Oxley: Five Years Under the Thumb.” July 26, 2007.
www.economist.com/business/displaystory.cfm?story_id=9545905&CFID=19771870&
CFTOKEN=7941782.
Fink, Ronald. “Balancing Act: Will a New Accounting Rule Aimed at Off-Balance-Sheet
Financing Trip up Enron?” CFO, July 1, 1999.
Flood, Mary. “Andersen Conviction Affirmed.” Houston Chronicle, July 1, 2004.
Gaskin, James E. “XML Comes of Age.” InternetWeek.com, April 3, 2000.
Goff, John. “They Might Be Giants.” CFO. January 12, 2004. www.cfo.com/article.cfm/3011295?
f=related.
Hays, Kristin. “Ex-Enron CFO Fastow Sentenced to 6 years in Prison.” Houston Chronicle,
September 26, 2006.
Herm, Marcus. “XML - An Opportunity for Small and Medium-Sized Enterprises.” Software AG.
http://webmethods.com/xml/library/herm.htm.
Johnson, Carrie. “Enron’s Lay Dies of Heart Attack.” Washington Post, July 6, 2006.
www.washingtonpost.com/wp-dyn/content/article/2006/07/05/AR2006070500523.html.
Information Age. “Spreadsheet Creep.” 27 May 2008. www.information-age.com/research/
information-integrity/331821/spreadsheet-creep.thtml.
Kimmel, Paul D., Jerry J. Weygandt, Donald E. Kieso. Financial Accounting Tools for Business
th
Decision Making,5 edition. New Jersey: Wiley; 2009.
KPMG LLP. “Sarbanes-Oxley Section 404: Management Assessment of Internal Control and the
Proposed Auditing Standards.” White Paper, March 2003.
www.kpmg.ca/en/services/audit/documents/SO404.pdf.
KPMG LLP. “Sarbanes-Oxley: A Closer Look.” White Paper, January 2003.
Krumweide, Kip R., and Win G. Jordan. “Reaping the Promise of Enterprise Resource Systems.”
Strategic Finance, October 2000, 49–52.
List, Allison. “The Lax Enforcement of Section 304 of Sarbanes-Oxley: Why Is the SEC Ignoring
Its Greatest Asset in the Fight Against Corporate Misconduct?” Ohio State Law Journal 70,
no 1 (2009).

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