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Former Member
Mar 31, 2011 at 02:08 PM

Parallel Ledgers - difference IFRS versus locaal Gaap



We have setup NEW GL concept with two ledgers, the leading ledger based on IFRS and a local one for country legal purposes.

As a standard the intention is to post all AP invoices in both ledgers ( i assume this is the best practise) but in certain situations like for fixed assets invoices, my client want to capitalize the asset in the IFRS ledger but in the local ledger he wants to post it in costs, so we have to deal with different GL postings, what's here the best practise?