Migration of assets according to IFRS

Hi All,
I am reading upon the IFRS implications in SAP. The basic question that comes to mind is- how will the assets be treated according to the changes brought upon by IFRS guidelines..
How will the changes be incorporated in the current system, which is in use.
Has any body worked on the same?
Kindly share your experience or insights on the same....
Thanks in advance.

From what I have heard is that all the assets NBV will be restated as starting Cost (APC). Useful lifes will be different based on the asset type it belongs to and depreciation calculation will be mostly straight-line based on useful life. Now how you restate your NBV to cost is up to you. Paul gave a good example of using AR29N, which could be one of the good straigh-forward option. You can also explore other non-straightfoward options like posting unplanned, write-ups depreciation and reducing the cost with -ve APC tty.
Capitalization also works differently for IFRS as you will have some allowable cost that can be capitalized and some disallowable cost which does not get capitalized under IFRS guidlines.

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hello every one ,
Currently we are thinking to implement IFRS with New G/L But i wantted to know is there any changes in IFRS Ballance Sheet than GAPP Ballance sheet ?
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Hi,
About your query on Asset accounting Asset Accounting is based on different Depreciation Areas (eg. 01, 40) which are
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Dear experts,
May I know how to migrate asset which are already retired in Legacy system to a new SAP environment?
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If you really want them just for a record only then you have to Migrate them with minimum value like 1 Rs. this will always shown in Report.
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My dear friends,
We have transferred the FA load to SAP as of 11.30.2011
When user was trying to run the depreciation "Planned Dep" for the first month DEC 2011, he encountered an error saying that "According to Posting cycle, next period is 001. It means JAN 2012.
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Edited by: nkonnipati on Jan 31, 2012 7:26 AM

Hi Atif and Srini,
When we migrate the assets through A91, there won't be any effect in FI right. Mean to say that there won't be any document generated from FI Point of view.
It will only update you asset master the and the open values for that asset.
You mean to say the ORD Dep posted GL will get affected while migrating the asset take over values?
Bcoz, we have updated the opening balance to GL accounts through OASV.
Atif, please clarify, where should i find the GL balances and how they will come until unless i update it through OASV.
If you say yes they update, kindly let me know th eprocess of deleting them
This is the first cycle we want to run for DEC 2011 after migration
Kindly help
Thanks

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Hi Gopal,
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Hi All,
We are added in asset accounting for IFRS Depreciation area,but we are facing problem is investemnt measure relavant assets not addedfor IFRS Dep.Please help me out this Issue.
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Dear Raju,
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Hi All,
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Hi,
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3.) Expired useful life is calculated by the system automatically.
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We want to implement for an Indian retail company having H.O in Italy.
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No need for system landscape optimization(SLO)asset area conversion project.
No migration of data or manual adjustments within LL.
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Cashflow reporting based on TB as per IFRS

Hello,
I have a client who recently migrated from SAP Business one 8.81 to 9.0 PL8. They have been using the cash flow selection criteria to create a cash flow statement based on the Chart of Accounts and then make manual adjustment to fit IFRS reporting Standards However this has become tiresome and now they want to generate a cash flow statement based on the Trial Balance without having to tick the cash relevant Accounts.
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kind regards,
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Hello,
I have a client who recently migrated from SAP Business one 8.81 to 9.0 PL8. They have been using the cash flow selection criteria to create a cash flow statement based on the Chart of Accounts and then make manual adjustment to fit IFRS reporting Standards However this has become tiresome and now they want to generate a cash flow statement based on the Trial Balance without having to tick the cash relevant Accounts.
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kind regards,
Maureen

Best approach for transition to IFRS from US GAAP

Hi SAP Gurus,
I have gone through some of SAP presentations and also 2 EcoHub sessions on IFRS.
I understand the SAP's suggestion to use of Parallel ledger as best approach.
Can any one clear below my queries?
1. Assuming current SAP system is in ECC 6.0 with classical ledger and we are trying to migrate to SAP GL. It is suggested to migrate to SAP GL first (lets say by 2010) and plan for adopting IFRS as one of parallel ledger (Non Leading) as a separate project (lets say from 2012). For the years 2012 & 2013 we will have reporting both in US GAAP & IFRS. Till here it is clear. I am not sure how we can drop reporting in US GAAP from 2014 when it is set as leader ledger while migrating to SAP GL.
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Som

Duplicate post

Asset negative posting not allowed

Hi
We are running ECC 6.0 with EP3.
While data migration certain Assets like Land was uploaded with overstated value. The depreciation key used is SLM 0%. Now Auditors are here and negative adjustment of actual asset value is required. For this purpose, in customizing the definition of depreciation area was changed to u2018All values allowedu2019 for Acquisition value.
We tested by posting an adjustment entry in client DEV (200) transaction code F-02 with posting key 75 and transaction type 101 with success. However when we test the same in client QAS (510) which is a fresh copy of client PRD (700) having the same configuration we come across following error:
u2018Low value asset max.amount exceeded. No posting allowedu2019
Message no. AA614
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Hi,
please check the following settings:
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Please check date of creation of the relevant asset, and the date of changing the LVA settings in the asset class. (Transaction OAY2, select Utilities - Change log)
If you changed the current LVA settings, take into account that they are not relevant for the assets created when other value for V_ANKB_02-XGWGK was active.
regards Bernhard

Migration of assets according to IFRS

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