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Former Member
Apr 27, 2010 at 01:38 PM

Budgeting,Actuals,Latest Estimates,Restatements


Hi guys

I am a technical consultant working in SAP BW.I am like layman in FIN world.My job is to load financial data from Oracle databases into SAP BW and generate reports on it when finance departments want them.When I am reading the documents of project,I got doubts about how the following things really work in a financial department of any company:

Budgeting,Actual data reporting,Latest Estimate,Restatements.

Budgeting:If we take some XYZ company having fiscal year as general how many times and during which months do they submit budgets...

Actuals: If we take the same company and same fiscal year as above,when and how many times a year, do they calculate actual value(like actual revenue or something like that..I donot know financial terms...)

What is Latest Estimate(LE) many time a fiscal year,during which months do they do this LE?whats the purpose of it?

Restatement:whats this....whats the purpose of it and when do we do it?

Thanks for your patience...