Don’t Let Uncertainty Derail Your Finance and Accounting Operations
Drive Better Results by Adopting an Integrated Process Automation and Data Management Platform for Finance
697 results
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How to Comply with IAS 21 When You Record Foreign Currency Transactions
Learn how to set up foreign currency valuation and foreign currency translation in SAP ERP Central Component (SAP ECC) 6.0 following the rules prescribed in International Accounting Standard (IAS) 21. The rules apply to organizations following a dual reporting format (i.e., reporting as per International Financial Reporting Standards [IFRS] and local US Generally Accepted Accounting…...… -
Freely-Definable Currency and Financial Statement Version (FSV) Setup
Global SAP customers often need operational currency that differs from the national currency their legal entity(s) resides in. To reconcile this discrepancy, SAP customers have, in the past, created mirror company codes, used special ledger, or performed currency conversion/translation in a data warehouse (i.e. SAP BW/BPC) to support their reporting needs. According to delaware Consulting,… -
Plan Your SAP S/4HANA Finance Implementation with an Understanding of Multicurrency Architecture
Learn about the multicurrency architecture in SAP S/4HANA Finance and discover how to set up the right solution design aligned to Generally Accepted Accounting Principles (GAAP), external reporting, and internal management reporting needs. Key Concept In both the classic General Ledger and the SAP General Ledger, you can define three parallel currencies in FI, two…...… -
Inflation-Based Revaluation of Fixed Assets
Learn the configuration done for monthly inflation-based revaluation. This configuration needs slight changes based on the frequency and inflation calculation methodology required for a specific implementation. Key Concept Inflation-based revaluation is a statutory requirement for several high-inflation countries. These countries publish an inflation index for revaluation of the fixed asset base of the company. In…...… -
Currency Types: The Key to Reporting Parallel Valuations
Do you know what the different currency types are, where they are configured, and when to use them? Confusion abounds in this area, especially when dealing with parallel valuation.Use this roadmap to gain control of all of your conversions and valuations. Key Concept You are probably familiar with the currency codes in SAP (e.g., United…...… -
Is Your Foreign Currency Revaluation FASB 52 Compliant?
Compare methods of configuring and executing foreign currency revaluation in your SAP system to determine which method best suits your needs while meeting US Financial Accounting Standards Board Statement No. 52 (FASB 52) requirements, which govern foreign currency revaluation. Key Concept Currency type 10 revaluation is the difference of the open payables/ receivables balance of…...… -
3 Exchange Rate Design Options for Multi-Country SAP Implementations
A good exchange rate design can handle requirements for foreign currency transactions considering local statutory requirements. Various design options are available to meet these exchange rate requirements. Key Concept There are a number of statutory requirements around foreign currency processing in a multi-country scenario related to exchange rate source, frequency of exchange rate update (daily…...… -
Demystify Parallel Valuation and Analyze Value Flow of Materials Across Plants or Legal Entities
In a product cost controlling implementation, you may consider implementing the material ledger with parallel valuation — the recording of inventory values in a separate valuation view — whenever business requirements related to group and legal cost, transfer pricing, or group and legal valuation are planned. This approach demands a high degree of business process…...… -
Navigate the Complexities of Currency Conversion for More Accurate Management Reporting
Since dealing with multiple currencies has become commonplace in a global economy, it’s no surprise that currency conversion is needed everywhere in global organizations that implement and run SAP software solutions. While currency conversion was mainly the purview of the ERP system in the past, ERP systems no longer carry that burden alone. Today’s managers…...… -
Multi-Currency Accounting with SAP S/4HANA
Learn how to use the SAP multi-currency accounting (MCA) feature in SAP ERP Central Component (ECC) as a part of the normal Business Suite license. It is based on an internationally accepted accounting principle to record foreign currency items, primarily in the banking industry. Furthermore, banks should be able to report their currency exposure or…...…
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