|
|
Categories
»
Financials
Financials
- 1099 Reporting - The Special G/L Indicator Gets a New Use in Release 4.7
by Martin Ullmann
In the many years I have been consulting in the FI area, almost every U.S. client I have worked with has had a common issue - 1099 MISC reporting. The question they have had is how to deal with data outside their SAP system that is subject to 1099 MISC reporting.
- 6 Controls to Make Your Company’s Order-to-Cash Processes More Secure
by Anurag Barua, Senior Manager (April 2010)
Learn a few selected application controls in the order-to-cash area and their importance from an audit perspective. Understand mitigation measures in case these controls are inadequate.
- Accelerate Your Closing Process with mySAP ERP New G/L and New Functions
by Aylin Korkmaz, Manager, Accenture UK
Fast period closing enables quick identification, investigation, and elimination of accounting problems. Here's how to take advantage of mySAP ERP's new G/L and new functions in accounting for your fastest closings yet.
- Ask the SAP GRC Expert: Demystify Foreign Currency Valuation with F.05
by Drs. Stef Cornelissen, SAP Consultant, Proxyon B.V.
If your company has open items in foreign currencies, you need to know how exchange rate fluctuations are affecting your bottom line. Learn the ins and outs of a highly useful but sparsely documented transaction and gain a complete view of currency valuation.
- Build a Dashboard for Management of Internal Controls
by Dr. Karol Bliznak, SAP AG
Managers often struggle with the timely availability of compliance-related data and the way the information is visualized for analysis and presentation purposes. You can eliminate these problems by following a four-step process to build a management dashboard for SAP's Management of Internal Controls (MIC) application. You can also use this procedure to build dashboards for other SAP applications and solutions.
- Build and Implement a Rock-Solid Compliance Framework for Your IFRS Conversion Project
by Kehinde Eseyin, Systems Support Manager, TOTAL Nigeria PLC, Nigeria (July 2009)
Many countries already operate under International Financial Reporting Standards (IFRS), while the US, among other countries, may be joining the fray. To simplify the conversion from your local reporting standard to IFRS and better manage the associated compliance risk, organizations must adopt strategies and best practices based on a proven compliance framework.
- Comply with Sarbanes-Oxley Regulations by Locking Posting Periods in CO-PA
by Jeffrey Holdeman, Principal Solutions Consultant, SAP
Discover how to use the Profitability Analysis (CO-PA) valuation enhancement to lock posting periods against changes in CO-PA data. See also how this solution helps meet Sarbanes-Oxley compliance for internal controls on CO-PA reporting.
- Create a Control Dashboard to Monitor Your Internal Controls
by Taylor Erickson, Manager, BearingPoint, Inc.
It is vital to track user exits to ensure the financial transparency of your company. The author introduces a programmable "control dashboard" that will enable you to recognize, document, and help audit the user exits in your company's system.
- Discover the Financial Aspects of Trade Compliance with GRC Global Trade Services
by Rajen Iyer, Practice and Program Head, Kryaa
Although SAP GRC Global Trade Services works very closely with logistics and interfaces with supply chain processes, it affects Financial Accounting in a number of ways as well. Learn how the functionality affects finance functionality and features directly and indirectly.
- Handle Partially Reclaimable VAT with Pro-Rata VAT Functionality in Your SAP System
by Kees van Westerop, Senior SAP Consultant, Kwest Consulting (October 2009)
Many organizations in the EU use Value Added Tax (VAT) on certain sales. However, not all sales allow VAT charges. If you’re a company providing products that are both VAT-eligible and VAT-ineligible, how do you account for this in your system? See how to set up and customize pro-rata VAT in your SAP system.
- How PCI Security Compliance Requirements Affect Your SAP System
by Eric Bushman, Director of SAP Solutions, Paymetric, Inc.
Card issuers are requiring merchants, banks, service providers, and card processors to take stringent measures to protect stored data. Establishing user security roles and minimizing end-user access to non-encrypted card data within your SAP system is essential for compliance.
- How SAP ERP Combats the Challenges of Global Accounting and Financial Reporting Standards
by Kehinde Eseyin, Systems Support Manager, TOTAL Nigeria PLC, Nigeria (December 2009)
Review some SAP ERP solutions, functionalities, and capabilities that you can use to meet the challenges of specific International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) requirements, including ones that cover revenue, accounting policies, operating segments, and more.
- How to Build and Use Controls for Closed-Loop Planning Processes in SAP NetWeaver BI
by Hari Srinivasan, Principal, Inforte
Learn how to build controls and create a number of unique roles in SAP NetWeaver BI or BW in the context of a consumer packaged goods business process.
- IFRS Adoption for US Companies: A Primer
by Anurag Barua, Senior Manager (July 2009)
Worried about the impending US conversion to International Financial Reporting Standards (IFRS)? See some quick hints about things you should know and places you can look for information as the landscape changes.
- Implement 5 Key Controls to Mitigate Risk in Your Financial Closing Process
by Anurag Barua,
Senior Manager
See five scenarios that commonly produce risk — and how to address them with configuration.
- Improve Your Compliance by Using VSOE-Based Revenue Recognition
by Akhilesh Mittal, Consultant, Infosys Technologies Ltd.
You can break down revenue recognition into two considerations — when to recognize the revenue and how much to recognize. Discover the procedure in your SAP system to apply the vendor-specific objective evidence-based fair value process to address these issues. Determine how much revenue to recognize when individual software elements are bundled in a product.
- Is Your Foreign Currency Revaluation FASB 52 Compliant?
by Susanne Finke, SAP Consultant, ZANN Consulting Inc.
Compare methods of configuring and executing foreign currency revaluation in your SAP system to determine which method best suits your needs while meeting US Financial Accounting Standards Board Statement No. 52 (FASB 52) requirements, which govern foreign currency revaluation.
- Keep Track of Components with the Reuse Library
by Anurag Barua, Manager, SAP Application Support, The Washington Post
The reuse library is enhanced starting with Enterprise Release 4.7, making it a handy mini-knowledge warehouse that can complement other knowledge management tools.
- Keep Your Order-to-Cash Documents’ Integrity Intact within a Global Trade Compliance Program
by William Newman, Managing Principal, Newport Consulting Group (August 2010)
When considering standard and non-standard order-to-cash processes, you can employ key workarounds to preserve standard SAP documents as the system of record. Understand the document flow of an order-to-cash process within a global trade operation, as well as the effects on plant operations. Then step through four example adjustments you can make to your order-to-cash process that keep you compliant with global trade policies and regulations.
- Monitor Sensitive Fields with R/3's Dual Control Functionality
by Drs. Stef Cornelissen, SAP Consultant, Proxyon B.V
The standard SAP dual control principle imposes segregation of duties for changes to sensitive fields while allowing changes to be made by one person to non-sensitive fields.
- Prepare Your R/3 System Now for the International Accounting Standards Deadline
by Drs. Stef Cornelissen, SAP Consultant, Proxyon B.V.
Impending deadlines for compliance with the International Accounting Standards (IAS) will require hard work on the part of many accountants and R/3 specialists. The problem posed by IAS is that, in most cases, two or more sets of figures have to be managed because of the differences among IAS, US GAAP, and national fiscal reporting.
- Prepare Your SAP Financials System for the Single Euro Payments Area
by Juergen Weiss, SEPA-now Consulting
Become familiar with the regulations of the Single Euro Payments Area (SEPA) and its consequences for companies doing business in Europe. Get an overview of the SEPA functions delivered within the SAP Financials system and understand for which SAP releases they are available. Learn how you can activate and configure the SEPA functions in the SAP Financials system.
- SAP Closing Cockpit in mySAP ERP Automates Fast Close
by Gary Fullmer, SAP
Learn about SAP Closing Cockpit and its two central features, a template and a task list. See how it can help you perform a fast close.
- SAP NetWeaver 2004s: Data Upload Feature Enhances Sarbanes-Oxley Consolidations Compliance
by Peter Jones, Platinum Consultant, SAP
SAP NetWeaver 2004s includes automatic data uploading functionality that replaces the Microsoft Excel-based method. It features a new consolidated process using Real-Time InfoCubes and Real-Time DataStore objects.
- Sarbanes-Oxley: Seven Steps to Ensure Your Internal Controls Cover Your Risk
by Taylor Erickson, Senior Principal, Virtuoso, LLC
As the deadlines approach, does your SAP financials team have a plan in place for compliance with the Sarbanes-Oxley Act (SOA) of 2002? No? That's not unusual, as many companies are struggling to learn what system and process changes the Act will require. But where do you begin this learning process? The author provides a seven-step method to assess how your FI/CO system measures up.
- Set Up Purchase Account Management to Fulfill EU Legal Requirements
by Kees van Westerop, Senior SAP Consultant, Kwest Consulting
Within several European Union countries it is legally required to report within the G/L the acquisition costs of materials that are put on stock. The SAP system uses functionality called Purchase Account Management to meet this requirement. Discover what this functionality is, how to set it up, and what the result looks like.
- Simplify Segment Reporting with the New General Ledger
by Aylin Korkmaz, Manager, Accenture UK
Find out how the new General Ledger (G/L) in mySAP ERP differs from the classic G/L. With its new segment functionality, you do not need to create a Special Purpose Ledger to meet different compliance standards.
- Speed Up Security Testing Using eCATT
by Jayesh Narwaney, Senior SAP Support Specialist
The Extended Computer Aided Test Tool (eCATT), successor of SAP’s CATT, can test a wide range of SAP applications running in the SAPGUI for Windows or Java environments. It can also access data in the database (including customizing data) and ABAP coding on the application server. See how to use eCATT to speed up testing over multiple users.
- Streamline Period-End Closing with Authorization Groups
by John Jordan, President, ERP-Corp
When you need to permit a select group of users to post to a previous period, you can use authorization groups to automate access. This prevents unauthorized users from posting to the previous period without requiring you to adjust the posting settings manually after a period closes.
- Streamline Your Parallel Accounting with the New G/L Ledger Solution
by Aylin Korkmaz, Manager, Accenture UK
See how to set up parallel accounting with the ledger solution in the new G/L with three procedures: ledger definition, currency valuation, and asset accounting.
- The Missing Link: Compliance at the Code Level
by Markus Schumacher, Software Security Expert, Sebastian Schinzel, Security Consultant, and Andreas Wiegenstein, CTO, Virtual
Forge
Establishing security processes, developer training, and tools right from day one of development projects leads to initially higher investments. However, the savings resulting from lower cost for corrections and lower risk for cyber attacks in the final product are going to outweigh the initial investments substantially. See some examples of insecure code issues and some ways you can solve GRC problems at the code level.
- The New SAP Management of Internal Controls Application Aims to Ease SOA Compliance
by Dr. Karol Bliznak, SAP AG
The Sarbanes-Oxley Act (SOA) deadline is imminent and similar legislation is expected soon in Europe and other regions. To help you comply with SOA requirements, SAP has created an application called SAP Management of Internal Controls (MIC). The author discusses what you need to install MIC and how it can meet your specific requirements. He provides an example that shows the ways in which MIC streamlines an internal controls project.
- Use Authorization Trace to Track Checked Authorization Objects
by Lawrence Chung, FI/CO Consultant
The authorization trace feature in transaction ST01 can help you trace all authorization objects being checked at different levels. See an example showing how to use it and how it affects compliance issues in your system.
- Use Change Documents for Sarbanes-Oxley Compliance Testing
by Qian (Sharon) Tang, System Program Manager
The time for Sarbanes-Oxley Act of 2002 testing is now. Find out how to leverage existing hidden system resources to help fulfill some of the crucial Sarbanes-Oxley Act mandates.
- Use Recycling Administration for Better Environmental Fee Reporting
by Dietmar Giljohann, R/3 Business Systems Analyst
Environmental regulations differ throughout countries, leading environmental fee reporting to be very difficult. See how an SAP add-on — SAP Recycling Administration — works to keep your data consistent and in line with the different regulations.
- What the Wizards Don't Tell You About Intrastat Reporting
by Kees van Westerop, SAP Consultant
Enterprises based within a member state of the European Union (EU) are legally required to report their goods movements to and from other member states. These reports are called Intra European Community Trade Statistics (Intrastat) reports. In most cases, this requirement also applies to European subsidiaries of American companies. The author explains how to set up Intrastat in R/3, how it is integrated within the R/3 modules, and how to create the reports. He also gives customizing tips not covered by the SAP-provided wizards that guide you through the process.
|
|
