The document provides guidance on basic asset accounting configuration in SAP, including how to create a new asset class and change an existing asset class' account determination. It explains that configuration changes are transported between development, quality, and production environments. It also outlines the steps to create a new asset class by specifying an account determination, assigning general ledger accounts, defining the asset class, and configuring default values. For changing an existing account determination, it may involve copying the determination, assigning a new one to certain asset classes, and adjusting the general ledger account assignments.
6 reasons to use the query functionality in SAP R/3 or SAP:
1. It is delivered with SAP
2. It is available across all modules
3. It is easy to teach users to write their own reports
4. It requires minimal configuration
5. Security is built-in — no hard-coding
6. No ABAP programming skills required
In SAP R/3 and SAP ECC, report painter is one of the reporting functionalities. In this presentation an introduction is given to report painter in SAP.
6 reasons to use the query functionality in SAP R/3 or SAP:
1. It is delivered with SAP
2. It is available across all modules
3. It is easy to teach users to write their own reports
4. It requires minimal configuration
5. Security is built-in — no hard-coding
6. No ABAP programming skills required
In SAP R/3 and SAP ECC, report painter is one of the reporting functionalities. In this presentation an introduction is given to report painter in SAP.
Watch and learn as FI/CO consultant Wessel Viljoen introduces the main functions and features of the SAP Report Painter application.
You will learn:
- Basic Overview of Report Painter
- How to use Report Groups, Tables & Libraries
- How to use General Selections, Drilldowns, Report Assignments & Columns & Rows
- How to Copy a Report in Report Painter
- How to Modify a Copied Report
Learn to create Financial Statement Generator (FSG) reports that are reusable and easy to maintain. The FSG’s are powerful tools that can be used to produce a variety of traditional reports such as balance sheets, profit and loss statements, income statements, expense analyses and gross margin reports.
View the original Blog post: http://www.eprentise.com/blog/financial-statement-generator-fsg-reports/how-to-generate-fsg-reports-part-i/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
Ensure your data is Complete, Consistent, and Correct by using eprentise software to transform your Oracle® E-Business Suite.
Watch and learn as FI/CO consultant Wessel Viljoen introduces the main functions and features of the SAP Report Painter application.
You will learn:
- Basic Overview of Report Painter
- How to use Report Groups, Tables & Libraries
- How to use General Selections, Drilldowns, Report Assignments & Columns & Rows
- How to Copy a Report in Report Painter
- How to Modify a Copied Report
Learn to create Financial Statement Generator (FSG) reports that are reusable and easy to maintain. The FSG’s are powerful tools that can be used to produce a variety of traditional reports such as balance sheets, profit and loss statements, income statements, expense analyses and gross margin reports.
View the original Blog post: http://www.eprentise.com/blog/financial-statement-generator-fsg-reports/how-to-generate-fsg-reports-part-i/
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
Ensure your data is Complete, Consistent, and Correct by using eprentise software to transform your Oracle® E-Business Suite.
Changes in financial reporting requirements have transformed the fixed asset accounting framework. International Financial Reporting Standards (IFRS) require fixed assets to be recorded at cost, but there are two accounting models – the cost model and the revaluation model. So what’s the difference, and when should you use each? This session will address fixed asset accounting and reporting under both models and how each is accounted for in Release 12.
Website: www.eprentise.com
Twitter: @eprentise
Google+: https://plus.google.com/u/0/+Eprentise/posts
Facebook: https://www.facebook.com/eprentise
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The Cloud Portfolio was created to bring all of your financial reporting needs under one umbrella. The portfolio contains all the essential financial information you would need to fulfill your SAS 115 requirements. Moreover, it is accessible from any device with an internet connection which allows the financial reporting team to achieve Berkeley's ambitious sustainability efforts.
What are the basic components of the conceptual framework What are .pdfanaxeetech
What are the basic components of the conceptual framework? What are your opinion about the
success of the conceptual framework
Solution
Conceptual Framework Underlying Financial Accounting
The development of accounting standards or any other accounting guidelines need a foundation
of underlying principles. In July 1989, The International Accounting Standards Committee
(IASC) issued a \"Conceptual Framework\" to serve as a basis for accounting standards. The
Accounting Standards Board of the ICAI has issued a similar framework for same purpose in
July 2000. This framework serves as a constitution and provides the fundamental basis for
development of new accounting standards as also for review of existing standards. The principle
areas covered by the framework are as follows:
Components of financial statements
>Balance sheet
>Profit & Loss A/c
>Cash Flow Statement
>Notes & Schedules to Accounts
Objectives of Financial Statements:
Objectives require financial statements to show the results of business operations and
stewardship or accountability of the management in respect of resources entrusted to it, to the
diversified stakeholders of the business.
Assumptions Underlying Financial statements:
Three fundamental accounting assumptions are as follows:
>Going Concern
>Consistency
>Accrual
Qualitative Characteristics of Financial Statements:
>Understandability
>Relevance
>Reliability
>Comparability
>True & Fair View
Elements of Financial Statements:
The five financial elements are assets, Liabilities, Equity, Income/Gains, and Expenses/losses.
Principles of Measurement of Financial Statements:
Measurement is the process of determining money value at which an element can be recognised
in the balance Sheet or statement of profit or loss. The framework recognises four alternative
bases for the purpose. These bases relate explicitly to the valuation of assets and liabilities. In
preparation of financial statements, all or any of the below can be used in varying combinations
to assign money values to financial items:
(a) Historical Values
(b) Current Cost
(c) Realisable(Settlement) Value and
(d) Present Value
PURPOSE OF THE FRAMEWORK
The framework sets out the concepts underlying the preparation and presentation of general
purpose financial statements prepared by enterprises for external users.
The main purpose of the framework is:
(a). To assists enterprises in preparation of their financial statements in compliance with the
accounting standard and in dealing with the topics not yet covered by any accounting standard.
(b). To assists ASB in its task of development and review of accounting standards.
(c). To assists ASB in promoting harmonisation of regulations, accounting standards and
procedures relating to the preparation and presentation of financial statement by providing a
basis for reducing the number of alternative accounting treatments permitted by accounting
standards.
(d). To assists auditors in forming an opinion as to whether financial sta.
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2. 27/11/2019 2
SAP Asset Accounting
1 Introduction
2 How to transport configuration changes?
3 How to create a new asset class?
4 How to change account determination in an existing asset class?
5 Q&A
3. 27/11/2019 3
Introduction
The purpose of this document is to explain how to do some basic configuration
in asset accounting.
An introduction is given how to create a new asset class in asset accounting,
how to change account determination for an existing asset class and how to
move these changes to the production environment.
However, this is not a tutorial explaining the different steps to be executed in
the different configuration steps nor a transport guide.
4. 27/11/2019 4
How to transport configuration changes?
Release transport
(SE01 / SE10)
OPTIONAL
Import transport
(STMS)
OPTIONAL
Validate transport
(STMS_QA)
Import transport
(STMS)SAP ERP
Development
O01
SAP ERP
Quality
K01
SAP ERP
Production
R01
Configuration changes are done in the development environment and deployed
via transports in the different environments of your SAP landscape.
Example: three-tier SAP landscape
5. 27/11/2019 5
How to create a new asset class?
Financial statements (BGAAP, IFRS, SII)
Account determinations
Asset classes …
Asset master records
General ledger accounts
6. 27/11/2019 6
How to create a new asset class?
Firstly the question to ask is if there’s already an existing asset class with the
same account determination?
The creation of a query can help in identifying if an accounting determination
already exist.
Example query
If no accounting determination exists, a new account determination has to be
created.
7. 27/11/2019 7
How to create a new asset class?
A new account determination is created in two steps…
1. Specify Account Determination
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Organizational Structures > Asset Classes > Specify Account
Determination
Attention point: translation of account determination description
8. 27/11/2019 8
How to create a new asset class?
2. Assign general ledger accounts
General ledger accounts are assigned at level of chart of depreciation, chart of
accounts, account determination and depreciation level
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Integration with General Ledger Accounting > Assign G/L
Accounts
9. 27/11/2019 9
How to create a new asset class?
Secondly a new asset class can be created when the account determination is
configured.
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Organizational Structures > Define Asset Classes
Attention point: translation of asset class description.
10. 27/11/2019 10
How to create a new asset class?
Thirdly the default values for the asset class have to be configured.
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Valuation > Determine Depreciation Areas in the Asset Class
11. 27/11/2019 11
How to create a new asset class?
Overview customising activities
▪ Specify Account Determination (optional)
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Organizational Structures > Asset Classes > Specify Account
Determination
▪ Assign general ledger accounts (optional)
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Integration with General Ledger Accounting > Assign G/L
Accounts
12. 27/11/2019 12
How to create a new asset class?
Overview customising activities (cont’d)
▪ Create asset class
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Organizational Structures > Define Asset Classes
▪ Default values for the asset class
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Valuation > Determine Depreciation Areas in the Asset Class
13. 27/11/2019 13
How to change account determination?
General ledger accounts are assigned at level of chart of depreciation, chart of
accounts, account determination and depreciation level
Firstly the question to ask is which account determination has to be changed
and to which asset classes is this account determination linked?
The creation of a query can help in identifying this.
Example query
14. 27/11/2019 14
How to change account determination?
There are multiple possibilities…
1. Account determination is only linked to one asset class
i. Change assignment of general ledger accounts to account
determination
2. Account determination is linked to more than one asset class
and all asset classes have to changed
i. Change assignment of general ledger accounts to account
determination
3. Account determination is linked to more than one asset class
and not all asset classes have to changed
i. Copy account determination and create a new account
determination
ii. Assign new account determination to asset class(es) to be
changed
iii. Change assignment of general ledger accounts to new account
determination
15. 27/11/2019 15
How to change account determination?
Overview customising activities
▪ Specify Account Determination (optional)
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Organizational Structures > Asset Classes > Specify Account
Determination
▪ Change asset class (optional)
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Organizational Structures > Define Asset Classes
▪ Assign general ledger accounts
SAP Customizing Implementation Guide > Financial Accounting > Asset
Accounting > Integration with General Ledger Accounting > Assign G/L
Accounts
