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 a set of accounting standards and procedures that companies have agreed to use when reporting their financial data. While authorities regulating business created some of these standards, others are included because most companies were already using them.