Benefits of Bringing Consolidation and Financial Reporting Processes Online

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  1. How SAP ERP Combats the Challenges of Global Accounting and Financial Reporting Standards

    Review some SAP ERP solutions, functionalities, and capabilities that you can use to meet the challenges of specific International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) requirements, including ones that cover revenue, accounting policies, operating segments, and more. Key Concept International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) guide global financial…...…

  2. financial processes

    Benefits of Bringing Consolidation and Financial Reporting Processes Online

    Reading time: 5 mins

    As businesses grow more complex, the need for accurate and timely financial reporting has never been greater. Unfortunately, legacy and manual methods for financial reporting often need help to keep up with the pace of business. Early findings from our Financial Close Transformation benchmark report, exploring the strategic priorities of SAP organizations across the financial…...…

  3. Simplifying Statements with BlackLine’s Financial Reporting Analytics

    Financial reporting is an essential business function, yet all too often this process can be delayed by manual processes that also introduce the risk of human error. BlackLine’s Financial Reporting Analytics allows users to analyze and validate data sets with real-time visibility. The solution provides end-to-end transparency and automates ledger-to-ledger, statutory-to-GAAP, tax-to-GAAP, and system-to-system reconciliation.…

  4. Decoding Sales Order Statuses in Financial Reporting

    Exactly what controls the status indicators of a sales order? Follow a step-by-step order-to-cash process and see exactly when and how sales order statuses are set in sales and distribution. Key Concept Document status fields are coded to represent the current state of a document. They are single-length character data elements (i.e., fields), and at…...…

  5. 3 Ways to Get the Most Out of Your SAP Financial Reporting

    Management teams and boards of directors often require frequent updates and analyses from their chief financial officer in order to make informed decisions. This often means requests for daily or weekly reports, on top of the typical monthly, quarterly and annual cadence – upping the pressure on finance teams. When an organization’s finance data spans…

  6. financial reporting

    SimpleFi Talks Consolidation and Financial Reporting Quick Wins

    Reading time: 1 mins

    Recent years have seen a dramatic shift in how businesses operate, particularly across finance function automation and transformation. Multiple factors are driving this shift, including the need to improve efficiency and reduce costs. In fact, most SAPinsiders view increasing the efficiency of core finance functions, such as consolidation, financial reporting, and forecasting, as a core…...…

  7. How to Comply with IFRS 15 Regulations Using SAP Revenue Accounting and Reporting 1.2

    Learn how to set up SAP Revenue Accounting and Reporting 1.2 in SAP ERP Central Component (ECC) 6.0 to comply with the new accounting standard regulation IFRS 15. The new regulation was jointly released by two leading accounting standard bodies: the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). Key Concept…...…

  8. Accelerate Your Financial Close to Support Strategic Decision Making

    Establishing an efficient financial close is a challenge for many businesses due to the number of people and complexity of tasks involved, and yet it is key to a best-run finance organization. By understanding how financial transformation—including the use of automation to increase operational efficiency—can support finance teams in the close process and add more…

  9. Mitigate Foreign Trade Payment Compliance Risk Using the Cockpit for Documentary Payments

    Learn how the Cockpit for Documentary Payments can be used to facilitate international customers’ payment compliance, thereby reducing the risk of doing foreign trade. Follow steps to implement the Documentary Payments component in SAP sales and distribution (SD). Key Concept The Cockpit for Documentary Payments provides automated financial documents to facilitate payment guarantee procedures required…...…

  10. Creating a Real-Time Cash Flow Report Using SAP S/4HANA Group Reporting

    The significant complexities involved in creating a real-time cash flow report using your SAP system can prevent companies from including the level of detail that they need. Understanding the cash flow process and new reporting functionalities in SAP S/4HANA can help organizations simplify these complexities. This article provides several updates for creating a cash flow…