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evidence for the requirements criteria of high
traceability and maximum causality of data types
and relationships for EISP. Finally, a specification
framework for EISP is presented that is founded
upon ontology based enterprise modeling, EABEM
and the Principle of Temporal-ABC.
If profits are to be realized, companies urgently
need to closely question and examine their current
cost management practices towards profitability.
The situation is further exacerbated as companies
throw millions of dollars and countless human
resource hours in the deployment of enterprise
planning systems that incorporate the inadequate
costing methodologies discussed in this paper.
In the hope that the terms and fundamental
philosophies of the Sarbanes-Oxley Act are
embraceable [Gartner, 2003], the following quote
serves best as a practical and real motivation for
adopting “change thinking” towards profitability:-
“Complying with the legal requirements of
Sarbanes-Oxley is one thing; complying with the
spirit of the Act is another. The fundamental
message of the Act is that CFO’s and boards need to
know their businesses better. To comply with the
Act, organizations will need to ensure that their
senior finance managers really understand what
drives their increasingly complex and diverse
operations, and are constantly attuned to any
changes that impact financial reporting and
business performance.” [Armstrong, 2003]
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