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Oracle Subledger Accounting White Paper
Oracle Subledger Accounting White Paper
EXECUTIVE OVERVIEW
Corporations today need accounting systems that provide accurate and reliable
“Centralization of the subledger
information, adhere to the highest standards of transparency and controls, fulfill
accounting rules would minimize setup
and maintenance, providing greater varied legal and management reporting requirements, and enable the books to be
financial control and enforcing a closed as fast as possible.
consistent approach for true global
Oracle E-Business Suite Release 12 introduces a new centralized function called
accounting.”
Subledger Accounting (SLA) that works together with Oracle General Ledger (GL)
—Carolyn Carter, to provide a world-class accounting system. The new centralized accounting
Director of Global Accounting, Emerson architecture addresses the concurrent needs for strong internal controls and diverse
accounting treatments. It offers unparalleled visibility into enterprise-wide
accounting information with a single, global accounting repository and user-driven
reporting. In short, SLA is a robust, centralized accounting engine and repository
that enables true global accounting.
INTRODUCTION
Running a global business means successfully addressing conflicting requirements in
all facets of the enterprise. Fiscal operations offer no reprieve. The more successful
or profitable your organization becomes the more complex and stringent the
accounting requirements become – or so it seems. From evolving global accounting
standards, to new internal control legislation, to sophisticated reporting and analysis
requirements – accounting operations have a heavy load to lift.
Oracle Subledger Accounting addresses these diverse requirements with a complete
solution that allows you to:
• Lower costs with streamlined accounting processes
• Meet diverse global accounting requirements and maintain internal controls
• Access better information and provide better reporting
In the following pages, we will offer information about specific capabilities that
support these assertions. We’ll also provide detailed examples of how these features
can be applied to real world business scenarios.
To illustrate, let’s take the situation where a US based company has operations in the
US and France and must produce financial statements for reporting authorities in
both countries. Specifically:
1. The US operation reports in USD per the US business calendar, US COA,
and US GAAP.
2. The French operation is subject to the French accounting regulations, and
thus has to report its activities to the local authorities denominated in
Euros, according to the French business calendar, French chart of
accounts, and the French Fiscal accounting rules. But it also needs to
report its financial results to the US parent company for consolidation
purposes.
IN SUMMARY
Oracle Subledger Accounting offers unparalleled visibility into enterprise-wide
accounting information with a single, global accounting repository. It addresses the
concurrent needs for centralized accounting processes with strong internal controls
and diverse accounting treatments.
In summary, Oracle Subledger Accounting enables you to:
• Lower costs with streamlined accounting processes
• Meet diverse global accounting requirements and maintain internal controls
• Access better information and provide better reporting
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