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author's profile photo Former Member
Former Member

somu

hi friend please send answers to these questions

what is newGL Concept

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  • author's profile photo Former Member
    Former Member
    Posted on Dec 04, 2007 at 11:19 AM

    Hi Somu,

    the central task of G/L accounting is to provide a comprehensive picture of external accounting and accounts. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.

    Beyond fulfilling the legal requirements, General Ledger Accounting also fulfills other requirements for modern accounting:

    • Parallel Accounting

    General Ledger Accounting allows you to perform parallel accounting by managing

    several parallel ledgers for different accounting principles.

    • Integration of Legal and Management Reporting

    In General Ledger Accounting, you can perform internal management reporting in

    parallel with legal reporting. For this purpose, the Profit Center Accounting functions

    are integrated with General Ledger Accounting. Furthermore, you can generate

    financial statements for any dimension (such as profit center).

    • Segment Reporting

    General Ledger Accounting supports the segment reports required by the accounting

    principles IFRS (International Financial Reporting Standards) and US GAAP (Generally

    Accepted Accounting Principles). For this purpose, General Ledger Accounting

    contains the Segment dimension.

    • Cost of Sales Accounting

    You can perform cost of sales accounting in General Ledger Accounting. For this

    purpose, General Ledger Accounting contains the Functional Area dimension.

    If this is useful then assign me points.

    Rams.N

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