By Susanne Finke
''SAP foreign currency echange Revaluation-regulations, its effect, and what it takes to enforce it in SAP-is a unmarried instruction manual that simplifies a posh and daunting job of forex valuation for SAP and different ERP implementers. A must-read!'' -Kalpesh Khandhadia, SAP advisor, Linksoft-IT Inc. ''Following the method awarded during this booklet, we eradicated the hours we spent every month manually reviewing and adjusting our international forex monetary statements. thanks Susanne Finke, for making this advanced subject understandable!'' -Ron Roberts, method Lead, monetary structures, Hollister Inc. ''It's nice to determine the entire foreign exchange details captured in a single position and spelled out so basically. nice job!'' -Nadean L. Moore, SAP FI advisor, Moore Consulting ''This SAP foreign currency echange Revaluation e-book . . . covers the mandatory SAP tables and transactions for revaluation and gives first-class examples of the SAP entries. A well-written book.'' -Dave Paz, SAP advisor, DLP Consulting LLC With crucial details at the right principles and rules had to agree to FAS fifty two, SAP foreign currency echange Revaluation: FAS fifty two and GAAP requisites is a useful reference for controllers, CFOs, IT and accounting managers, and SAP experts who're keen on FAS fifty two compliance initiatives, whether their businesses are utilizing SAP, Oracle, PeopleSoft, or proprietary software program. Its precise assurance of statutory specifications, company execution of forex revaluation in SAP, and SAP configuration walks readers via: * The U.S. accounting statutory specifications, web source of revenue, organizational, and monetary consolidation affects * an summary of forex revaluation with dialogue of inventory move and tax implications * FAS fifty two standards for currency trading premiums and translation * company criteria for G/L symptoms which are impacted by way of foreign money revaluation * 3 tools on hand to execute forex revaluation and their adjustments * one of many more moderen methods the SAP R/3 software program presents clients to execute foreign money revaluation * The SAP configuration to enforce forex revaluation * establishing customized editions to view the severe fields utilized in the forex revaluation
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Extra info for SAP foreign currency revaluation : FAS 52 and GAAP requirements
Identify the specific open item G/L account(s) that will be revaluated. These same G/L accounts will appear in the G/L balance tab, and even if the “Valuate G/L Account Open Items” indicator is selected, the accounts identified in both the open items and G/L balance tab will be valuated based on their G/L account definition as open item or line item. If a range of G/L accounts that include both open item and non–open item accounts is identified, and only the “Valuate G/L Account Open Items” indicator is selected, then only the G/L accounts in the range that are open item will be revaluated.
This is not used for revaluation “Type 10” (Transaction to Local Currency). This is used for the second step, revaluation 30 (Transaction to Group Currency). This is not used without valuation areas. • Translation of Currency Type or Valuation Area. This is not used for revaluation “Type 10” (Transaction to Local Currency). This is used for the second step, revaluation 30 (Transaction to Group Currency). This is not used without valuation areas. qxp 1/31/06 9:10 AM Page 38 SAP FOREIGN CURRENCY REVALUATION • Amount in FC.
This is for non–open item accounts only. • Reverse Postings. This indicator affects the valuation of non–open items only. If not selected, the G/L balances for non–open item accounts will not be reversed. If selected, they will be reversed in full. qxp 1/31/06 9:10 AM Page 33 REVALUATION WITHOUT VALUATION AREAS • Valuate G/L Account Open Items. Select this indicator in combination with identifying the specific open item G/L accounts to be valuated. • Valuate G/L Account Balances. Select this indicator in combination with identifying the specific G/L balance accounts to be valuated.
SAP foreign currency revaluation : FAS 52 and GAAP requirements by Susanne Finke