Going out on a limb - body parts and others. Throughout our history, we've hit the headlines for insuring the weird or rather wonderful body parts of celebrities. 1920s Silent film comedian Ben Turpin famously bought a $25,000 insurance policy with Lloyd's, payable if his trademark crossed eyes ever uncrossed.
What is 'Enterprise Resource Planning - ERP'. Enterprise resource planning (ERP) is a process by which a company (often a manufacturer) manages and integrates the important parts of its business. An ERP management information system integrates areas such as planning, purchasing, inventory, sales, marketing, finance and human resources.
GAAP is the standard implemented by accountants and auditors. The acronym stands for generally accepted accounting principles. It is a compilation of all the principles accountants utilize in preparing financial statements. By having a common standard, it is easier to regulate and understand a company's financial reports.