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Added by David Burdett , last edited by David Burdett on Sep 12, 2009 (view change)
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implemented IFRS alongside US GAAP at all of its operations worldwide. Christiane led the project. You
can view the replay of the webinar and download the presentation by registering here. You can also
register for or listen to replays of the other webinars in the series here.
A few questions that were very similar to each other have been omitted. The questions have also been
grouped into a number of headings that hopefully should make finding answers to a specific
question/topic easier to do. All individual and company names have been removed.
The headings are:
Accounting Systems
Accounting Objects
Accounting System - Ledger
Chart of Account
IFRS Accounting
Month-end Close
IFRS - US GAAP Difference
Migration
SAP Product Portfolio
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IFRS around the World
If you have any comments, a follow up question or a completely new question, please go to the IFRS
Forum and ask your question there.
Accounting Systems
Q. How did SAP deal with their parallel reporting year for financial
reporting purposes? Did you use additional GL accounts? Excel
working paper entries?
A. No, we did not use Excel. We used an account-based approach and added IFRS accounts to our general
chart of accounts, and had one financial statement version for US GAAP (excluding IFRS accounts) and
one version including IFRS accounts. The IFRS accounts also represent the reconciling items between US
GAAP and IFRS and allow for easy reconciliation and explanation on a topic by topic basis.
Q. Do all your subsidiaries use the same fiscal year variant? Are
all closing on the same date 31/12 (December 31st)?
A. Almost all have 31/12 (December 31st), except for SAP India. You can solve that problem in the system
but for group purposes their fiscal year is 31/12 (December 31st), that means that is what is the basis for
the audit. For statutory I think their fiscal year-end is 30/6 (June 30th).
IFRS financials?
A. No, they have been generated in our consolidation ledger. But if you just use the delta account logic,
you can use the RFBILA00 on entity level and see the reconciling item.
Accounting Objects
Chart of Account
Q. If you have one chart of accounts for the SAP as a whole, how
do you control postings?
A. We have one chart of account for group purposes. There is one company code for each entity and we
control the postings on an entity by entity level.
Q. Hello, May I know what is the need for IFRS chart of accounts.
You should have used the old Chart of Accounts. May I get some
insights?
A. We do not have a separate IFRS chart of accounts. We have a global chart of account that includes US
GAAP and IFRS reconciling accounts. Dependent on the view (US GAAP/ IFRS) they are included or
excluded from the financial statement versions.
IFRS Accounting
under US GAAP.
Month-end Close
Q. For local countries that switch to IFRS in the first year and
need to prepare dual reporting. They are looking at three sets of
books: US GAPP, IFRS and local GAAP. How is local GAAP recorded?
using another set of accounts? and how is dual reporting
handled? custom report?
A. We record local GAAP similar to IFRS on so called A-accounts (additional accounts for local GAAP
maintained as delta accounts) that capture the difference between US GAAP and local GAAP.
Migration
Q. How did IFRS project impact other Project Portfolio for SAP?
After 2014 or may be later, once SEC requires all US companies to
comply with IFRS, does it mean discontinuance of US GAAP?
A. I think our software if fully US GAAP and IFRS compliant if customized correctly. The fact that SAP
internally applies IFRS going forward, does not mean that this impacts our product roadmap, because SAP
is just one customer on its own, but we need to develop what SAP's 82,000 customer base requires.
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