Financial statements to comply with IFRS and US GAAP.

Hi everyone,
We need to start reporting our external financial statements to comply with IFRS and US GAAP.
There are some primary differences in the 2 accounting principles relates to PPE (Fixed Assets/Capital Expenditure) and therefore multiple/different valuations of the assets, they need to be provided for.
Do you know how we can comply with both the IFRS and US GAAP reporting requirements in general using the tools in SAP ?
Thanks in advance and best regards.
Dago

Hi,
A few tips: Asset Area 1 should be mapped to IFRS and linked to leading ledger. Area 20 is mapped to GAAP and liked to non-leading ledger. Area 1 should be 100% depreciated to capital expenditure in the very first depreciation run, which will allow you to report capital expenditure at the end of the month. Area 20 is for depreciation over the life (the regular GAAP stuff).
Regards,
Ming
Edited by: Minghong Ji on Jun 15, 2011 6:48 PM

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*+<Moderator edit - deleted MOS Doc content - pl do NOT post such content - it is a violation of your Support agreement>+*
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Financial statements to comply with IFRS and US GAAP.

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