What's new in Customer Journeys?

Connect and learn more! ×
Lease accounting for business units with 3 ledgers — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Lease accounting for business units with 3 ledgers

Received Response
58
Views
8
Comments
edited Nov 30, 2023 5:54PM in Lease Accounting 8 comments

Summary:

My customer requires 3 ledgers local GAAP, US GAAP and IFRS. Each having its own CoA due to the accounting requirements (i.e. the natural account segment value set values are unique in all 3 ledgers). All secondary ledgers are setup at Subledger conversion level.

1.

We have France BU where they have

Primary Ledger - local GAAP (PCG accounting)

Secondary ledger 1 – USGAAP (for corporate consolidation)

Secondary Ledger 2 – IFRS (for EU consolidation)

The FLA module setup allows only two ledgers to be setup

We wanted to setup as follows:

Primary accounting standard = USGAAP; ledger name = **** FR SL – USGAAP

Secondary accounting standard = IFRS; ledger name = **** FR SL-IFRS

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!