IFRS – Impact on Indian Business and SAP Solution

Malolan Pathanki SAP India Consulting

Agenda

1. 2. 3. 4. 5.

A brief overview of IFRS and its implications A few comments from SAP regarding IFRS SAP ERP and IFRS adoption overview SAP BusinessObjects and IFRS adoption overview Wrap-up

What is IFRS?
Key Points — IFRS Adoption
International Financial Accounting Standards Global wide standard for financial accounting and reporting Curr`ently in use in most of the world
– –

Europe, Japan, Australia, China, etc. Other countries are in the process of changing from local GAAP to International Financial Reporting Standards (IFRS)

How it affects you — Key deadlines ICAI has “proposed” a deadline of 2011 Dual Reporting begins in 2010 Requires re-statement of opening 2010 Balance Sheet to IFRS standards IFRS cutover from Local GAAP to IFRS is 2011
– –

Local GAAP reporting requirements will not go away Some industries will still require Local GAAP reporting
– Utilities, Oil and Gas — FERC reports remain US GAAP

Other key points to consider The IFRS “answer” will be specific to your company, industry, and country

“One size fits all” does not apply for IFRS

Prior planning including your consulting/audit partner and SAP is essential for success

Are There Any Benefits to IFRS?
SAP and our Partners see these benefits
Improved quality of reporting –
A globally accepted set of principles-based standards may offer opportunities to consistently apply accounting standards

Improved transparency and investor confidence –
As use of IFRS becomes more widespread, the new standards will increase comparability for investment analysis and performance measurement

Reduced accounting complexity –
US GAAP accounting rules are viewed as complex and difficult to apply IFRS is based on “principles” not rules which will provide the opportunity for more clear representation of financial results

Potential process and cost efficiencies –
The same financial reporting standards across the world will provide opportunities to simplify and centralize financial reporting processes and functions

Cost of capital –
A single global financial reporting standard will enhance the efficiency of capital allocation and should reduce the cost of capital

Process and technology optimization –
Converting to IFRS may provide an opportunity to improve and streamline key components of the current SAP landscapes

There are significant impacts on: Company organization — Both corporate and subsidiary levels Valuation of individual business transactions Transactional systems — May need software and hardware upgrades Approaching key deadlines Early project planning and analysis leads to successful project Parallel reporting Need to run parallel reporting to enable prior year comparisons between the Local Accounting Standard and IFRS during the transition periods Need the ability to easily compare. Consulting Partners. reconcile.Key IFRS Challenges IFRS implementation is not only a reporting project. IT. and SAP Services New closing process required to include additional new IFRS-specific information without increasing closing cycles Transaction changes Top-side adjustments at a consolidation level may not always be sufficient to meet all IFRS requirements — Some changes may be appropriate at the SAP ERP / transactional level Need to capture additional data / information to meet extensive disclosure requirements . management accounting. tax. and explain the differences / changes between the Local Accounting Standards and IFRS Broad implications Implementation requires cross-functional team — Financial accounting.

Quality Management SD – Sale and Distribution Planning Executions Inspections Certificates RFQ Sales Orders Pricing Picking Packing Shipping Possible Impact Need to investigate to determine magnitude Slide from Ernst & Young Manufacturing industry example .Potential Impact of IFRS on an SAP Landscape From Ernst and Young SAP modules FI .Financial General Ledger Cost Element Book Close Process Areas Accounts Receivable Profit Centers Accounts Payable Internal Orders Inventory Management Sales Tax Consolidations SPL CO .Controlling MM – Material Management AC – Asset Accounting Cost Center ABC Costing Product Costing Master raw materials Requisitions Purchase Orders Good Receipts Bill Of Materials Purchasing Depreciation Tracking PS – Project Systems Make to Order Plant Shut Down Third Party Billing HR – Human Resources Employment History Payroll Master production scheduling Training Material requirements planning Material Career Management PP – Production Planning Capacity Planning Shop Floor PM – Plant Maintenance Labor Down time and outages QM .

Financial Disclosure Reporting Slide from Accenture . Advertising. PP&E. Asset Impairment (Store closures). Raw Material Hedges Extensive use of leases. Contingencies and Provisions (Loss Contracts and Restructuring) Financial Instruments. PP&E. Asset-backed Securities Financial instruments. PP&E Leases. Customer Loyalty Programs Insurance Contracts. Taxes PP&E. Asset Impairment. LIFO reserves.IFRS Impacts to Our Clients – Industry Insights From Accenture More research is required but our hypothesis is that certain industries will be impacted more than others due to IFRS. Inventories. Restructuring. fuel hedges. Inventory. PP&E. Financial Instruments. derivatives. Leases Business Combinations. Intangibles (R&D). Derivatives. PP&E Revenue recognition – project accounting. Advertising. Revenue Recognition. Contingencies and Provisions (Product Liability) Intangibles (R&D). Revenue Recognition. Inventories. OG Industry Level of Impact H M M H M H H H M H Key Drivers CGS Airline Industrial Equipment Products Retail Travel HLS Automotive Banking Financial Services Capital Markets Insurance Inventory. Asset Impairment.

IFRS Impacts to Our Clients – Industry Insights From Accenture (cont. Borrowing Costs PP&E. Leases PP&E. Environmental Provisions. Joint Ventures. Joint ventures LIFO reserves PP&E. Asset Impairment Building Materials Media and Entertainment Communications CHT Aerospace and Defense Electronics and High Tech L L M M H Slide from Accenture . Environmental Liabilities. Leases PP&E. R&D. Advertising. LIFO. Asset Impairments. Business Combinations. Depletion Accounting. Derivatives (hedges). Leases. Revenue Recognition – project accounting R&D. R&D. Customer Loyalty Programs PP&E. Intangibles (R&D). Provisions. Impairment Testing. Impairment Testing. PP&E. Taxation. Reserves. Leases. Intangibles. Revenue. Taxes. Impairment Testing. LIFO PP&E. PP&E PP&E. real estate PP&E. LIFO. PP&E.) OG Industry Level of Impact L L L M H M H Key Drivers Forest Products Freight-Logistics Metals Mining Resources Utilities Chemicals Energy LIFO. Leases. hedges Intangible Assets – impairment testing. Revenue Recognition – multiple element arrangements. Revenue Recognition – multiple element arrangements. Derivatives. Derivatives LIFO. Real Estate. R&D. Revenue Recognition. Revenue Recognition – project accounting.

4. 2. A brief overview of IFRS and its implications A few comments from SAP regarding IFRS SAP ERP and IFRS adoption overview SAP BusinessObjects and IFRS adoption overview Wrap-up .Agenda 1. 5. 3.

risk.0 offers customers a best-in-class IFRS capable leading ledger Integrated SAP Business Suite is more flexible for upcoming IFRS changes SAP BusinessObjects enterprise performance management (EPM) and SAP BusinessObjects governance.000+ IFRS implementations in EMEA including 100+ US GAAP to IFRS conversions SAP ERP 6. and compliance (GRC) solutions play a key role in helping organizations transition to IFRS Already available as standard in our applications Starter kits speed and smooth the transition process Comprehensive compliance Open to heterogeneous environments Bottom line is SAP offers the most complete solution to support IFRS .Why Is SAP the Best Choice for IFRS? There is NO simple long term solution to the IFRS reporting requirement IFRS adoption will likely require changes across the entire installed SAP Landscape SAP Business Suite solutions are fully IFRS capable and have been for many years 4.

and our Partners can provide the necessary support for your IFRS Project Local Close/Transaction SAP ERP Layer SAP General Ledger – Parallel Account with multi-ledgers Multi-Asset Valuation Areas Asset Accounting – Etc. Group Close/Reporting/Consolidation Layer SAP BusinessObjects – SAP BusinessObjects Planning and Consolidation XBRL Publishing application Etc.SAP and IFRS Compliance Solutions and Services Standard SAP Applications. SAP Services. SAP Services SAP Field Services SAP General Ledger Migration support service SAP Service Landscape Optimization (SLO) Upgrade Support and Service Partner Alliances Strong relationship with our Partner Organization .

SAP Solution Portfolio for IFRS SAP Business Suite solutions are already IFRS capable SAP BusinessObjects solutions can also play a key role in helping organizations transition to IFRS With the combination of SAP ERP and SAP BusinessObjects solutions — SAP offers the most complete solution to support IFRS SAP Business Suite: SAP Business Suite 7 SAP ERP 6. .0 – SAP ERP Financials – SAP General Ledger – – – – SAP BusinessObjects SAP BusinessObjects EPM and GRC Solutions SAP BusinessObjects SAP BusinessObjects Planning and Consolidation + IFRS Starter Kit SAP BusinessObjects Financial Information Management SAP BusinessObjects XBRL Publishing by UBmatrix Parallel Ledgers Asset Accounting Etc.

For Example SAP’s own IFRS Project Looked like this … Corporate Financial Reporting Provides guidance and training Provides posting infrastructure Performs certain reconciliation postings for all company codes Share-based payments and related hedge entries Local SAP Entities Identify reconciling items (i.. differences IFRS/US GAAP) Perform all reconciliation postings except those performed by CFR Bring open issues to the attention of regional IFRS Specialist Complete expanded reporting package and provide certification on accuracy and completeness of reconciling entries and disclosures Support KPMG‘s audit Organization Personnel Collects data for disclosures (via expanded reporting package) Supports identification of IFRS/ US GAAP differences Decides accounting for major open items Adoption of IFRS @ Regional IFRS Specialists Collect all ambiguous issues from individual entities in the respective region Provide guidance to solve ambiguous issues Discuss complex issues with CFR (single point of contact in CFR for each IFRS Specialist) Consulting Partner (KPMG) Audit IFRS opening balance sheet IFRS reconciliation 2006 IFRS reconciliation 2007 and beyond IFRS consolidated financial statements 2007 and beyond Processes Technology .e.

Transaction Layer b. Reporting Layer Dual Reporting Period Go-Live IFRS Possible System Landscape Optimization (SLO) Projects to clear Local GAAP Issues SAP Field Services + Customer – Reporting/Analytical Layer Review Existing consolidations and XBRL capabilities Adapt the current or deploy a new consolidation application for group reporting Go-Live with new or updated consolidation capabilities Perform consolidation reporting in both the local accounting standard and the IFRS systems Go-Live with IFRS as primary group reporting standard .IFRS: Implementation Timeline – Overview Recommendations (IN Timeline) Consulting/Audit Partner. Customer + SAP Field Services Begin IFRS Project Planning and Local Impact to Determine SAP Landscape Solution Required Begin IFRS Project Prepare Opening Balance Sheet under IFRS rules Dual Reporting Period Ends IFRS Go-Live Date 2009 2010 SAP General Ledger Migration Completed 1st Qtr 2010 SAP General Ledger Validation Period completed by Year End 2010 2010 2011 2013 SAP Field Services + Customer – SAP ERP Layer Upgrade Project to SAP ERP 6.0 Completed SAP General Ledger Migration Project Begin configuration Landscape for IFRS a.

we do The complexity of your project will be driven by your industry. company. sorry The best solution for your company will be the result of a thorough review of your current status and the overall impact on your company when adapting to IFRS .Some Frequently Asked Questions SAP’s View of IFRS Typical Questions Does SAP consider the implementation of IFRS a significant project? Yes. and even country Your current landscape status will also play a role in the complexity of your specific project System upgrades SAP General Ledger migration projects SLO projects Your IFRS project will require input and guidance from Your consulting/audit partner SAP Services You own internal experts Is there a single best solution for IFRS? No.

Some Frequently Asked Questions SAP’s View of IFRS (cont.) Typical Questions What type of support can I expect from SAP during this project? SAP will provide application support for our products Basically we can help with basic configuration/consolidations and reporting help For correct interpretation of the IFRS rules and guidelines it is best you work with your consulting partner What is the first step I should take to begin this IFRS project? SAP would suggest you contact both your consulting/audit partner and SAP for guidance and preliminary planning .

5. 4. A brief overview of IFRS and its implications A few comments from SAP regarding IFRS SAP ERP and IFRS adoption overview SAP BusinessObjects and IFRS adoption overview Wrap-up . 3. 2.Agenda 1.

Customer + SAP Field Services Begin IFRS Project Planning and Local Impact to Determine SAP Landscape Solution Required Begin IFRS Project Prepare Opening Balance Sheet under IFRS rules Dual Reporting Period Ends IFRS Go-Live Date 2009 2010 SAP General Ledger Migration Completed 1st Qtr 2010 SAP General Ledger Validation Period completed by Year End 2010 2010 2011 2013 SAP Field Services + Customer – SAP ERP Layer Upgrade Project to SAP ERP 6. Reporting Layer Dual Reporting Period Go-Live IFRS Possible System Landscape Optimization (SLO) Projects to clear Local GAAP Issues SAP Field Services + Customer – Reporting/Analytical Layer Review Existing consolidations and XBRL capabilities Adapt the current or deploy a new consolidation application for group reporting Go-Live with new or updated consolidation capabilities Perform consolidation reporting in both the local accounting standard and the IFRS systems Go-Live with IFRS as primary group reporting standard . Transaction Layer b.0 Completed SAP General Ledger Migration Project Begin configuration Landscape for IFRS a.IFRS: Implementation Timeline – Overview Recommendations (IN Timeline) Consulting/Audit Partner.

Options for SAP Solution Configuration Approaches available for multi-GAAP valuation within SAP ERP Financials Approach Account Based Parallel Company Codes Easiest to implement Can lead to a less than efficient Chart of Accounts No additional functionality planned by SAP Not a Recommend Solution for most companies Classic SAP General Ledger Parallel Ledger Most transparent approach Independent set of books Future IFRS requirements more easily accommodated Special Ledger No additional functionality planned by SAP Not a recommend solution for most companies Current recommended configuration approaches for SAP General Ledger .

Recommended option of complex installations Large differences between IFRS reporting standards and the current legal reporting standard Feeds properly formatted IFRS data directly into the Reporting and Analytics layer Simplifies reporting and requires little manual adjustment after consolidations Implementation from the beginning of fiscal year Matches IFRS time line Parallel Ledger Configuration is recommended where Segment reporting is required Increased number of Ledger accounts is not desirable Complete set of separate legal reporting books is preferred Different fiscal year is needed for different legal sets of books .Parallel Ledger Approach – Scenario 1 Applies to SAP General Ledger only Why it Works Provides IFRS and Local Accounting Standard reporting from multi-ledgers Can be configured to meet both reporting requirements from the first go-live date Utilizes the best features of the SAP General Ledger Document Splitting Segment Reporting Etc.

IFRS Financial Statements report using common accounts and “pure” IFRS accounts together Red Oval in diagram Account Solution is recommended where Relatively few valuation differences exist between IFRS and local GAAP No issue with an increased number of general ledger accounts Standard reporting is used Different fiscal years not required .Account Based Approach – Scenario 2 Can Be Used Across All GL Versions Single Ledger Pure Local GAAP Accounts How it works Uses single ledger for all posting Could be the Leading Ledger for SAP General Ledger Pure IFRS Accounts Accounts are “grouped” according to legal reporting requirements Example – 300000 to 400000 Operational Chart – 500000 to 550000 IFRS – 600000 to 650000 Local GAAP Common Accounts Each group of accounts must be in balance Requires extra care to ensure correct account determination And the establishment of a coding handbook.

but only after a through review of the other recommended options with your consulting partner and SAP .Parallel Company Codes and Special Ledger Approaches Parallel Company Codes Special Ledgers Neither approach is the recommended solution for today’s environments These approach options were recommended prior to the availability of the SAP General Ledger and the capabilities added by SAP BusinessObjects In some cases these options may still be workable in special cases.

the adoption of IFRS would be much easier in most cases with the most current software release installed I have just upgraded and installed the SAP General Ledger and my Leading Ledger and Asset Valuation area are set to Local GAAP. a new migration scenario (7) is under development For the Asset Valuation area.0 and install the SAP General Ledger to meet the IFRS requirement? No. For the SAP General Ledger. you can meet the IFRS requirements without an upgrade or the installation of the SAP General Ledger However. an SLO service will be required .Some Frequently Asked Questions SAP ERP Financials Typical Questions Do I have to upgrade to SAP ERP 6. How can I make the switch to IFRS? In this instance we would suggest using Parallel Ledgers within the SAP General Ledger A combination of the Leading Ledger and Non-Leading Ledgers would be used to report both Local GAAP and IFRS SAP has several services that will help make the switch from Local GAAP to IFRS within the Leading Ledger and Asset Valuation area.

Followed by the reporting validation period after the migration weekend and the IFRS planning project would take another year.Some Frequently Asked Questions SAP ERP Financials (cont. Which will take 2 years for the upgrade/migration and first phase of the IFRS project .) Typical Questions What is the difference between the Account Based approach and the Parallel Ledger approach? The Account Based approach holds all legal reporting data in a single ledger Is suggested for smaller sized installations with minimal differences between Local GAAP and IFRS requirements Will add additional account numbers to the Chart of Accounts The Parallel Ledger approach distributes legal reporting data to separate parallel ledgers Is suggested for larger installations with significant differences between Local GAAP and IFRS reporting May require a separate table groups for separate ledgers If I plan to upgrade to SAP ERP 6.0 and migrate to the SAP General Ledger when should I start planning the project? In this example the time is NOW! Overall we see an upgrade followed by a migration project to take at least a year.

Agenda 1. 4. 2. 5. 3. A brief overview of IFRS and its implications A few comments from SAP regarding IFRS SAP ERP and IFRS adoption overview SAP BusinessObjects and IFRS adoption overview Wrap-up .

automated testing and reporting of internal controls in accordance with SOX 404 and 302 Deep integration into underlying transactional and general ledger (GL) systems Including SAP ERP. IAS 16 etc.SAP BusinessObjects solutions support IFRS SAP BusinessObjects solutions are fully IFRS capable and have been for many years 800+ successful IFRS implementations in EMEA Key functionality to support the IFRS transition is available as standard Dual/parallel reporting Top-side adjustments Support for IFRS rules including IAS 7. Starter kits speed and smooth the transition process Provide pre-configured IFRS compliant content Comprehensive compliance Documentation. SAP Business Suite. and SAP NetWeaver BW Applications remain heterogeneous and open to non-SAP environments .

Key requirements of consolidation and reporting applications for a successful IFRS transition Dual / parallel reporting Data should all be held in a single database with minimal or no duplication Sufficient dimensionality. to perform and store multiple consolidations. and Equipment . and to report in different formats Hold the data in local GAAP with journal entries to produce the required reports for IFRS (or vice versa) Automate the calculation and storage of as many of adjustments as possible Ease of report writing Need to produce reports in more than one format during the transition phase . structures. Plant. and currencies to categorize the information Comprehensive built-in audit trail Top-side adjustments Ability to perform complex calculations.especially since the transition will likely require several years of running IFRS parallel with local GAAP Prescribed formats for IFRS reporting are different from those in local GAAP IAS 7 (Cash Flow Statements) does not require reconciliation of net cash flow to movement in net debt Flexible and powerful end-user reporting capabilities that enable the head office consolidation team to create and change their own reports Multiple labels for accounts Ability to assign different names to a single account IAS 1 requires different balance sheet headings to those currently used under local GAAP Stock = Inventories Fixed Assets = Property. hierarchical views.

and fast close Familiar and easy to use Enables rapid adoption by leveraging native Microsoft Office tools (e.track process status and completion Step-by-step guidance for users Unified planning and consolidation Single.SAP BusinessObjects Planning and Consolidation. integrated application reduces maintenance.g. Excel) Consolidations business rules are configured by finance users (no scripting required) User owned and managed Process-centric Customizable business process flows ensure consistency and minimize training Enforce policies and procedures . budgeting. improves data integrity Simplified deployment while enabling flexible consolidation and planning functions . forecasting. version for the Microsoft platform Streamlined planning.

controls. and calculations IFRS ready publishable financial statements . generic reference implementation Rapid and trusted legal compliance Embedded expertise in meeting financial regulations including best practice in financial consolidations and internal controls Detailed process guidance for business users Comprehensive scope IFRS specific chart of accounts Pre-configured IFRS consolidation rules.Starter kits for IFRS Faster legal compliance – reduce implementation times Rapid implementation Pre-packaged content reduces implementation times by up to 80% Dynamic configuration enables easy customization to specific requirements Complete.

mapping.SAP BusinessObjects Financial Information Management Powerful connectivity. intelligent checking and filtering of data Simple to use and easy to deploy Compliance. and reliability Fully automated and easily accessible audit trail Drill-back allows tracing of consolidated results back to the original sources Comprehensive validations ensure error prone data is loaded right-first-time Connectivity to SAP and non-SAP sources Application connectivity removes the need for intermediate flat files or manual re-keying of data Database connectivity ensures almost any source can be integrated with a full audit trail Rapid Marts speed implementation . and loading designed for business users Ease of use for finance users Business users maintain sophisticated mappings and launch loading tasks Secure access to dimensional metadata. trust.

SAP BusinessObjects Process Control End to End. certification and sign-off process Reduce cost without compromising compliance Automate controls with “out-of-the-box” control scripts Simplify integration across process and application boundaries Streamline manual testing and assessments Shrink audit cycles with rigorous compliance process Enable lines of business to effectively mitigate risks Integration with other applications for effective mitigation of enterprise business risks Role-based dashboards to monitor control activity status . Cross Enterprise Business Process Control Implement operational controls to improve business process management Unify control environment across the enterprise Manage by exception and perform timely remediation Enforce accountability with hierarchical review.

S. 2009 All other large accelerated filers in 2010 All remaining companies in 2011 XBRL publishing will be an important facet of the IFRS transition process Considering XBRL publishing requirements from the outset will make the IFRS transition process easier and reduce maintenance once the transition is complete .The role of eXtensible Business Reporting Language (XBRL) in the transition to IFRS Mandate for public companies operating in the U. to begin filing their financial reports using XBRL Three-year timetable Largest 500 filers for fiscal periods ending on or after June 15th.

dimensions. Simplicity Works with EPM solutions and SAP Business Suite Link to and import disclosures stored in Microsoft Word Insulates users from dealing with complex XBRL syntax Extend / Customize Taxonomies Supplement.1 specification Supports basic and block text footnotes. thorough validation of generated XBRL documents SAP BusinessObjects XBRL Publishing by UBmatrix Excel Workbook XBRL Instance Document Taxonomy Designer Report Builder Regulators US SEC UK HMRC Japan FSA etc.SAP BusinessObjects XBRL Publishing by UBmatrix Streamlining XBRL publishing for business users Speed Quickly navigate taxonomies and map data Easy to use drag-and-drop mapping environment Fast. Publish Flexibility Easily extend published XBRL taxonomies Complies with the XBRL 2. Tag. and business rules Prepared Financial Statements SAP Business Suite Software SAP BusinessObjects EPM Solutions . Validate.

Standard Life .SAP BusinessObjects customers have already transitioned to IFRS SAP BusinessObjects software has helped more than 800 customers successfully transition from local GAAP to IFRS reporting In parallel. Manager of Financial Systems. It makes it much easier to show both auditors and company management exactly what we’ve done…” Neil Thompson. our consolidation applications have also helped customers significantly reduce closing cycles Diageo went from 12 days to 5 days after replacing Hyperion Enterprise Reporting time reduced from 20 to 5 workdays at Roche with HQ consolidation time cut from 12 to 2 days Recticel reduced reporting time from 20 days to 15 days “ The journal entries generated by the rules-based SAP BusinessObjects application provide an exact audit trail as we reconcile the data for both Canadian reporting purposes and IFRS standards.

During the dual reporting period the company will still file in accordance with current GAAP requirements but from IFRS “go-live” must disclose comparative results for the entire dual reporting period in accordance with IFRS . Just prior to IFRS go live books “adjustments” to re-state consolidated history for dual reporting period in accordance with IFRS Note: The length of the dual reporting period is dependent on the number of years for which comparative reporting to be provided. . Just prior to IFRS go live fully re-consolidate history for dual reporting period in accordance with IFRS (full / separate consolidation) Option 4: Continue to consolidate under existing GAAP until IFRS go live date.Implementation options Financial consolidation and reporting Prepare Opening Balance Sheet under IFRS rules Dual Reporting Period IFRS “go-live” Date (dual reporting ends) 2009 2010 2010 2011 2013 Option 1: Parallel consolidation under both existing GAAP and IFRS during dual reporting phase (separate consolidation) Option 2: Primary consolidation in accordance with one “leading” GAAP with posting of adjustments to obtain ‘non-leading’ GAAP “during” dual reporting phase Option 3: Continue to consolidate under existing GAAP until IFRS go live date.therefore creating a requirement for reporting results under both standards.

so that changes elsewhere in the systems environment do not disrupt financial reporting? Do they offer an accelerated approach or toolset for building IFRS financial statements? Are the people that designed and configured the system still with the organization? How easy will it be to roll out updated systems to the reporting units? Do they unify planning and consolidation? How easy will the system be to maintain? Can the transition be achieved without adding unnecessary risk or introducing compliance issues? .What action should I take now? Check whether your existing financial consolidation and reporting systems are capable of taking on the challenge of IFRS in parallel to your current GAAP reporting Can changes be made easily.have they been hard-coded? Can they be loosely coupled to the transaction systems through middleware. quickly and cost effectively? Can they hold different sets of adjustments for current GAAP and IFRS as well as multiple consolidations? Can they support the various reporting requirements including creation of different reports from the same data? How have existing local GAAP rules been configured .

2. A brief overview of IFRS and its implications A few comments from SAP regarding IFRS SAP ERP and IFRS adoption overview SAP BusinessObjects and IFRS adoption overview Wrap-up . 3.Agenda 1. 4. 5.

com/irj/sdn/nw-scheduling Customer Value Network Site devoted to IFRS https://www.com/irj/bpx/ifrs .SAP Resources You will find further information about our Partners and SAP’s approach to IFRS at: SDN Community Website https://www.sap.sdn.sap.sdn.

early planning and the complete understanding of the requirements will lead to a successful outcome Begin planning now!! 2013 is not that far away Your IFRS project will require engagement with you Consulting Partners.7 Key Points to Take Home You should consider IFRS as a major project As with any project. and your own in house experts There is no “sliver bullet” or single standard solution for IFRS adoption The IFRS adoption provides an opportunity to update and modernize your current landscape and release IFRS adoption within your SAP landscape will most likely require changes to both the SAP ERP and the Analytical and Reporting systems . SAP.

com .pathanki@sap.How to Contact me? Malolan Pathanki Malolan.

Thank you! .

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