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  "documentTitle": "Mettler-Toledo International, Inc. (MTD)",
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  "authorName": "Ben Axler",
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      "text": "BIO gives clear guidance that it only capitalizes costs up to implementation, whereas Mettler has not, and continues to aggressively capitalize costs into software within PP&E.",
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      "text": "Chronological excerpts from 2011-2018 10-K filings detailing ERP implementation costs, capitalization policies, and internal control weaknesses.",
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      "text": "Bio-Rad (BIO) serves as a case study for the challenges of implementing an ERP. BIO started in 2010, and has experienced implementation challenges, that ultimately resulted in the admission of material weaknesses of internal controls.",
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      "text": "In each case, the misrecorded item was due to errors as a result of data migration and system configuration arising from our new European business structure during our ERP system conversion in Europe in April 2017. Our review controls and our user acceptance testing controls were not sufficiently designed to identify these items on a timely basis. Though there was no impact on the financial statements for the nine-month period ended September 30, 2017, we concluded that our disclosure controls and procedures were ineffective as of September 30, 2017 and that this deficiency constituted a material weakness. — Source: 2017 10-K",
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