Company Code- Different Fiscal Year

Hello All:

Iu2019m assigned the task of building a company code and at present we are in the design stages. The parent company code operates on July-Jun Fiscal year. Now, the foreign company code that needs to be built, needs to report on Jan-Dec fiscal year.

Now, from a reporting perspective u2013 How can we accomplish both the US GAAP and Local reporting? For example u2013 if I set up the foreign company code as July u2013Jun FY, then when I come to reporting part, how will I capture the Jan- Jun Data which technically would fall in the previous year.

Can some give some guidance/suggestions.

Thank you,

Mahesh