US GAAP Notes

Experts,
Please forward US GAAP Notes for my understanding.
[email protected]
Thanks
Soni

You need a new company code regardless, to represent the legal entity in the US.
You can use either the new G/L with leading and non-leading ledgers, or the classic ledger with a special purpose ledger.  You'll need two ledgers in any case; one will carry the values according to the parent company, the other will carry the alternative GAAP.
Best practices would be to use the parent company's perspective in the leading ledger, and the local GAAP in the non-leading or special-purpose ledger.
The business requirement is the same, regardless of the presence or absence of the new GL.

Similar Messages

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    we ar egetting above error when trying to do MIGO

    Hello,
    If you can please explain the problem you are facing, may be the message number, the process flow etc.
    Let us know whether you are reporting your figures on different GAAPs.
    Regards,
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  • Special depru00B0 : posting scheme not compliant with FR GAAP

    Hello guys,
    I have implemented the gross procedure for the special depreciation
    area (transaction OAYQ) in order to distinguish the increase and
    decrease movement types for the special reserve Balance sheet G/L
    account. Indeed, the variations need to be detailed into FR GAAP
    Consolidation reports for these BS accounts.
    I have followed the standard SAP procedure but I donu2019t get the expected
    result :
    The increase and decrease are cumulated into the special reserve
    balance sheet account while the depreciation and write off are
    correctly detailed for the P&L accounts of the same posting :
    Exemple :
    SAP posting scheme :
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    787250 -500 (P&L special write off account)
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    145000 500 (item with a write off movement type)
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    Thank you in advanc for your help,
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    Hi,
    please open a support ticket to SAP and request to release note 1013613 for your customer number. This note contains a modified posting line item schema which should solve your issue.
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  • IO assigned with Asset,but not coming at the time of PO creation

    Hello
    IO assigned with Asset,but not coming at the time of PO creation.
    I have made following settings:
    1     Depreciation - IFRS (INR)              1     0L
    15     Income Tax Act                             0
    20     Depreciation - Indian GAAP (INR)     3     1L
    30     Depreciation - IFRS (USD)              0
    31     Depreciation - Indian GAAP (USD)       0
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    CAUFN     Internal Order     *     Generic Trans. Type     02 Depreciation Run
    KOSTL     Cost Center     *     Generic Trans. Type     02 Depreciation Run
    so currently i am using only dep area-20 only(Indian GAAP)
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    AS01
    KO01
    AS02
    KO22
    KO30
    so what is the problem,why i am not getting IO (which is in display mode in PO) when assigned the Asset with category of "A" (asset) in PO.......when i assigned Asset- the GL account come automatically but IO didn't come.
    kind regards

    Hey Ajay
    thanks for your reply.....
    now i'm getting new error:
    Parallel depreciation area 31 is not posted
         Message no. AA565
    Diagnosis
         The asset to be posted does not manage parallel depreciation area 31, or
         transaction type  that you are using is limited to certain depreciation
         areas, and does not contain depreciation area 31. This is incorrect.
    System Response
         Posting is rejected.
    Procedure
         Check the asset and the transaction type.
    I have checked some configuration but not able to debug it.
    regards

  • Account 'Acquisition:Acquis. could not be found for area 01 AU133

    To provide for reporting in USD group currency the leading ledger currencies for each company code has been changed from only local currency to also include the group currency (type 30) of USD.
    Once the above setting for group currency was made the fixed asset transactions are not posting and the subject error message is occurring. The threads in this forum for this type of issue have been read and all the t-codes have been checked (AO90, AO93, OADB, OAK4, OABW, etc. with no change. The account is defined for the company code as an asset reconciliation account. No SAP Notes were found to be helpful with this either.
    Any suggestions other than these are greatly appreciated.

    hi i have the kinda same problem "Account 'Loss made on asset retirement w/o reven.' could not be found for area 50" my dep. area is derived dep. area called 50 which is difference between 01 gaap and 25 ifrs dep. areas.
    in oadb the XSTORE is not flagged, BUHBKT set for 5 and LDGRP_GL is set for IF ledger when i run askb some of the assets issues this error but i have done all the custm. in ao90 what could be the reason for this by the way all of the accounts derived from 01 and all of the accounts set in 01.
    Edited by: farukisin on Jan 17, 2012 3:54 PM
    problem solved some times the problem could be so tiny so that you cant see,
    this is one of them the gl account was not created for the company code
    Edited by: farukisin on Jan 19, 2012 3:50 PM

  • Error- Postings to G/L accounts with open item management are not permitted

    Hi,
    Can't we post to a GL, which is open item managed, in a non-leading ledger (statutory ledger)? We get this error when we try to post an entry, in the statutory ledger, to a GL that is open item managed.
    Can anybody explain this, please?
    Regards,
    Mike

    This is due to a design with the new GL.
    In the new G/L accounting, when you use a particular ledger or ledger group, you can no longer make a direct ledger specific posting to accounts managed on an open item basis or to accounts with an account type not equal to 'S'.
    You need to do posting with ledger group blank, which updates all the ledgers. The idea is, for open item accounts, all the ledgers should be in sync. for open item accounts IFRS and Local GAAP values are never different.
    If you are doing this to do some correction posting while doing year end posting or migration for example. (A typical example is when an account is made open item managed at a later date). You need to change temporarily message control using transaction SE91 to force ledger specific postings to OI accounts

  • Asset values are not updating in ledgers

    Dear Experts,
    Currently for company code 1000, system calculating depreciation   properly and posting,
    If there is a change in depreciation % rate, user can able to change the depreciation % in Dep key and successfully posting while running the depreciation run.
    Accordingly to the asset dep calculation, retirements, transfers, partial retirements etc there were no issue and everything is working fine for company code 1000.
    Only thing is those values not updating L5 ledger.
    Regards
    Venkat

    http://scn.sap.com/message/13115490#13115490
    Refer to the above Thread
    3. SPRO-Financial Accounting (New)-Financial Accounting Global Settings (New)-Ledgers-Ledger-Define Ledger Group
    We have one ledger group, We one leading ledger (OL) and 3 non leading ledger L5 _US GAAP Ledger, L6_IFRS Ledger, L7 _Fiscal year Jan – Dec Ledger and
    We have created one ledger group and selected the ledger group and clicked the ledger assignment
    Representative Ledger in Group ticked only for the OL ledger, we have to maintain Representative Ledger in Group tick for the remaining non ledger
    Also?
    Regards,
    Venkataswamy

  • Ledger Group field NOT showing in FB03 after activating Non- Leading ledger

    Dear All Experts,
    I have activated non leading ledger for my company code and posted the document successfully from FB60. Now coming to FB03 I can see the document in Local Currency and Group Currency - USD but the Ledger Group field still shows complete blank. As I guess it MUST show 1F ( Non Leadig Ledger ) which is my non leading ledger.
    Where I missed the configurtation step ? If anybody has gone through the same issue please guide or provide some inputs.
    Regards,
    Revati Joshi.

    Non-leading ledger use t codes FB01L and FB50L
    The reason that the Ledger Group 0L is being used it´s because the Accouting Principle of your Valuation Area.
    What you have to do is you need to create a new Ledger Group and assgn it to your valutaion area.
    Then you assign this accounting principle to the valution area.
    Then assign the accounting principle to no Ledger Group.
    Please see the customizing path:
    Define new Ledger Group:
    Financial Accounting (New)>Financial Accounting Global Settings (New)>Ledgers>Ledger>Define Ledgers for General Ledger Accounting (dont active your new ledger as leading ledger. leave the standard as the leading )
    Assign Accounting Principle to none New Gl Group:
    Financial Accounting (New)>General Ledger Accounting (New)>Periodic Processing>Valuate>Check Assignment of Accounting Principle to Ledger Group
    Assign your Valuation Area to the accounting principel just assigned to none NewGL Group:
    Financial Accounting (New)>General Ledger Accounting (New)>Periodic Processing>Valuate>Assign Valuation Areas and Accounting Principles
    Now you have more then one Ledger Group in you client (which is not being used for nothing) and you have a valuation area that is linked to a Accounting Principle that is linked to no Ledger Group.
    Go ahead now and execute the FAGLF101. You will see that the standard will not try to inform leading ledger in the Group of Ledger.
    I found this solutiong debbuging the standard. Took me quite a bit to discover.
    The problem was in SPRO->Financial Accounting(New)->General Ledger Accounting(New)->Periodic Processing->Valuate->Check Assignment of Accounting Principle to Ledger Group. In "Target Ledger Group" field, the ledger "0L" were configured in BRAP and GAAP. So, the system automatically assigned the ledger "0L" when performing FAGLF101.

  • Depreciation value not shown under the tab 'posted value' in AW01N

    Dear experts
    I have in chart of depreciation US GAAP book(posted to G/L), local GAAP book(not posted), book to post difference of two GAAP(posted to G/L), and local tax book.
    In AW01N, the ordinary depreciation value is shown correctly for all books in the first tab 'planned values',
    But on the second tab 'posted values', depreciation value only shown for the US GAAP book.
    I'm thinking it maybe relavant with posting to G/L or not, that means only book with posting to G/L is shown with deprecation value on the second tab.
    But something strange is in another chart of deprecation, deprecation value is shown for US book, local book.
    Could someone comment how to control deprecation value shown or not on the second tab by local book?
    Best Regards,
    Nicole

    Hi,
    If you would have mentioned it as a "area post in real time" it will show you in the aw01n. If not, it will not show. Because, the tab specifies the posted values which means how much depreciation posted to GL.
    As you have put "area doesnot post" for the local book, it will not show the balance.
    Thanks,
    sravankumar

  • Exchange Rate is not posting to respective GL account

    Hello,
    My user is trying to post Invoice receipt at rate 0.6(Ex.Rate) for $.1000 on June 10. Then post Goods receipt on June 12 system rate is 0.7 but system is taking current rate and not IR rate. If it takes current rate it is also OK but it is not posting to exchange gain or loss account.
    Can anyone help me out in this error....
    Regards
    KK

    Dear Krishna,
    During MIRO postings, if any exchange gain or loss arise then it is treated as Price Difference Account and goes to the G/L Account you have configured in PRD Key in OBYC TCode. If it is not configured then SAP posts this exchange gain / loss amount on the original expense or stock G/L Account which would have been used in MIGO (Goods Receipt) posting.
    Realized Exch Gain / Loss Amount is only posted when you carry out the payments to vendors. However you can create unrealized exch gain / loss using TCode FAGL_FC_VAL as a monthly process to meet your GAAP Requirement.
    Regards,
    Sanjay

  • Deactivation date is not updating in Asset Master after retirement (ABAON)

    Dear Experts,
    Asset Capitalized on: 28.02.2009 and depreciation key used as: LINK-Str.-line from acq.value to zero without interest. Asset Retirement done with revenue (210) on 31.05.2009. We do have depreciation like (01 book depreciation, 15 Tax depreciation, 30 Local GAAP book depreciation).  Below is the asset and class:
    Asset name:  Maruti Baleno
    Asset Class: Vehicles
    Here my question is after retirement done with the transaction code: ABAON u201CDeactivation onu201D date is not updating automatically in the system, however when am trying to update manually the system showing error like u201CDeactivation not possible. Dep.area 15 has acquisition values.
    When am trying to do same transaction with T code: u201CABAVNu201D, the system updating the deactivation date.
    Can anybody explain me why the above error happening and why the deactivation date is not updating with t code: ABAON.
    Thanks,
    Francis.J

    Dear Atif Farooq,
    In the AO74 the transaction types (Deactivate fixed asset check box also ticked)
    200     Retirement without revenue
    210     Retirement with revenue
    When am trying to update manually below error appearing in AS02
    Deactivation not possible. Dep.area 15 has acquisition values
    Message no. AA296
    Diagnosis
    You cannot deactivate, since acquisition values are still present in depreciation area 15.
    Procedure
    Deactivation can only be posted by a complete retirement/transfer. The deactivation date is then set automatically.
    The above asset procured in the year of 2009 and same has been retired 2009.
    Thanks,
    Francis J

  • Reclassification of Debit & Credit balances TC:-FAGLF101 is not happening

    Hi
    We are trying to run the transction FAGLF101 for reclassification of debit and credit balances
    under one company we are have 4 company codes , we are able to post and generate entries for 3 company codes and not happening for one company code alone
    we have checked the setting in OBBU/OBBV/OBBW all are correct, kindly let me know
    1.Is there any particularly settings we have to make on company code basis ,
    2.what all the config in need to check out
    3. any config changes i need to make
    kindly do the needful
    thanks & regards
    salva bindu

    Hello Suresh
    Could you help me with these questions on the configuration of valuation method assigned to valuation area:-
    1. Significance of "determine exchange rate type from act bal" and "determine exchange rate type from invoice reference". How is exchange rate type determined at account balance? Is it that for regrouping of customer / vendor accounts it is required to detrmine exchange rate type from account balance?
    2. What is the significance of valuation area in regrouping? Can i not use the same valuation method mapped to valuation area as configured for foreign currency valuation i.e EVR (standard SAP)?
    3. What are the valuation method settings for US GAAP and IFRS for regrouping?
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    Anisha

  • Depreciate an asset in US GAAP (as it is a cost in US GAAP)

    We have an asset that needs to be capitalized in local GAAP but it needs to be depreciated in full in US GAAP. The reason being it is considered a cost in US GAAP and asset in local GAAP. While creating the asset, user did not enter useful life as "0" in US GAAP for the asset. Depreciation for last 3 periods is already posted.
    In this case, what would be the best approach to correct this scenario.
    We tried changing the useful life of the asset in US GAAP to "0" but, the system is throwing an error message "Make required entry".
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    Thanks !

    Hi Somya
    There are 2 ways you could have handled this
    1. Enter useful life as 0 Yrs and 1 month.. With a dep key based on useful life, the entire asset gets depreciated in the 1st month itself..
    You can change the useful life now in a way that only 1 month remains.. Example - If you maintained useful life as 1 year, change it to 4 months now (3 months already over).. With this, entire NBV will get charged off as depreciation in the next AFAB run
    2. You can use depreciation key with Base Method 0017: Immediate Depreciation...
    With this, the entire asset APC value  in Dep Area for US GAAP gets charged off to Depreciation
    Br. Ajay M

  • LOCAL GAAP and IFRS

    Hello Experts,
    My client had dep area 01 for local gaap(posts leading ledger) and 30 as IFRS(posts non leading ledger), Delta dep area 31(31-01) post to non leading GL posting setup as below
    Dep 01: Real depreciation   GL Posting indicator as 01  ledger group as leading ledger
    Dep 30: real Depreciation area GL Posting indicator as 03( Posts Depreciation only) ledger group as non leading ledger
    Dep 31: Derived Depreciation (delta between 01 and 30)  GL posting indicator as 06( Posts APC directly) ledger group as non leading ledger
    The above set is as per the SAP standard setup.
    Questions:
    1. Delta Depreciation is not posting any difference depreciation to non leading ledger where client want to post the differences to non leading ledger.
    how to achieve this, is any set up am I missing
    Your advise would be greatly appreciated.
    Thanks
    Mohini

    Hi Mohini
    You need to run ASKBN so that the Delta dep posts to Ledger
    br, Ajay M

  • Meeting Indian Stautory requirements and US GAAP requirements in FA

    Has any one met the Indian Statutory requirements pertaining to:
    i)Additions of Exchange Fluctuation Cost
    ii)Capital Grants for recording in Indian FA Book but not copying into US GAAP FA Book
    Can you flag certain Cost additons from getting into FA TAx Books.
    Thanks,
    Harmander
    P.S. please reply at [email protected]
    & [email protected]

    Hi Friends,
    No replies at all , any pointers.
    Regards
    Ashutosh

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