New general Ledger for IFRS ?

[Former Member]

Hi,

is it necessary to create a new general ledger if we want to produce Statement under IFRS ?

Is there any alternative way except this one ?

Please advise

Regards.

[Former Member]

Hi,

Which SAP version yoy are using?

New general ledger accounting needs to be activated to produce statements as per IFRS.

The major requirement as per IFRS is segment reporting. This is possible with New GLA & document splitting.

Regards,

Ashutosh

[Former Member]

Thanks for the answers,

we are under ECC 6.0, and the new Ledger is activated.

we have a Leading Ledger for Local Accounting Norm, therefore to keep Accounting with IFRS must i create a Parallel Ledger for IFRS ?

How we maintain the link between Local Account and IFRS account ?

Please can clear me this ?

Regards

[Former Member]

Hi,

If you need to produce statements as per more than one accounting principles, then you need to maintain a non leading ledger for accounting principle other than Local Accounting principles.

Refer the link http://help.sap.com/erp2005_ehp_04/helpdata/en/2d/830e405c538f5ce10000000a155106/frameset.htm fo more clarification.

For Asset accounting, you can create additional depreciation area for IFRS for reporting purposes.

I hope this will help you.

Regards,

Ashutosh

[krishnakishore_gaddam]

Hi,

As per my understanding you Need to create the Ledger Group. Each ledger group must have exactly one representative ledger. Through this system links posting to other ledger.

Any body please confirm me if i am wrong.

Regards,

Krishna Kishore

[Former Member]

Hi,

Ledger group is used to combine any no. of ledgers. This enables simultaneous posting to several ledgers in that ledger group.

During manual postings one can select the single ledger or a ledger group to post to one or more parallel ledgers.

Regards,

Ashutosh

[Former Member]

Hi

Just to add. By default system posts to all ledgers for which the company code is assigned to (whether leading or non leading) if you are not choosing any ledger. If you are posting to any particular ledger/ ledger groups ( a ledger group may contain one or more ledgers) then the posting will take place for that ledger/ ledger group.

Regds

Abu