Will there be any setup for GAPP reporting in r12 Ledgers ?

Hi all,

Our Business wants to implement Secondary Ledgers to streamline and standardize our current process for recording/reporting Stat to GAAP transactions. So i was just wondering is there any specific setup in the ledgers which specifies GAAP/IFRS ? and also is there any other better approach for recording/reporting Stat to GAAP transactions instead of implementing secondary ledgers. We have around 12 primary ledgers, so will there be any performance impact if we implement secondary ledgers to all of the primary ledgers ?

Thank you.