商务英语毕业论文范文

　　3.1.1 Traditional approaches to capital budgeting

　　Capital budgeting can be changed by ERP systems. As noted, it has been done separately from the firm’s accounting and operating systems, past, present, or future. In a traditional non-ERP setting capital budgeting may be completed separately with a spreadsheet. For example, given a project for outlays for replacement equipment where the time frame for the internal rate of return or net present value calculation could be 10 years. The project could include an improved production process to reduce material waste as well as labour costs. Also, the new process could reduce the time for set ups for different product runs, and thus enable the capture of special orders where quick response is necessary.

　　As IRR/NPV analysis is incremental, the spreadsheet would show the incremental cash flows for capital outlays, reduced material costs, reduced labour costs, and the contribution from the additional sales. However, the data items on the spreadsheet of pre-ERP capital budgeting are not explicitly linked with what activities happened, what activities are happening, or what activities will happen in the future. This separateness can be resolved by ERP systems integrating capital budgeting with companies’ accounting and other systems.

　　3.2 Benefits of ERP for capital budgeting decisions

　　Potentially, capital budgeting can be done significantly differently with a functioning ERP system because of the integration of accounting and other systems. The common unified data warehouse is able to integrate, for example, financial transactions, activities in activity-based costing (ABC) and activity-based management (ABM) sub-systems, budgets and plans, and performance measures such as customer satisfaction or an entire balanced scorecard. Of course for these expectations to be realized, companies would need to have a full range of ERP modules, which may be presently uncommon.