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Former Member

Local and US GAAP reporting in Classic GL accounting

Dear Experts,

My client is head quarted in US and having the business entities across the globe and they are using the same fiscal year Variant i.e., calender year+ 1 special period, same Operating chart of accounts, same controlling area for all the company codes.

Now my client has acquired one legal entity in India and wanted to maintain the book keeping as per Local GAAP and US GAAP.

As per Indian statutory requirements they want to have the April to March fiscal year.

and they have the requirement to provide the reporting Locally as well as globally.

Please suggest how to configure in the system to meet the above requirement. and also i can go head with the same retaining earning account are need different Retained earnings,

If so,what are the general reports suggested to client for Local GAAP as well as US GAAP.

And we are at ECC 6.0, EHP7 but using the Classic GL accounting.( New GL functionality is not enabled).

Could you please suggest.



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1 Answer

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    Former Member
    Mar 15, 2017 at 09:07 AM

    Hi all,

    Can any body provide your suggestions.



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