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Knowledgebase » Volume 8 (2009) » Update 8 Speed Up Your IFRS Transition with the IFRS Starter Kit for SAP BusinessObjects Planning and Consolidation
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SAP BusinessObjects software provides comprehensive support for your transition to International Financial Reporting Standards (IFRS). Learn about the latest starter kit for IFRS for SAP BusinessObjects Planning and Consolidation, which can speed up the implementation time of IFRS-related configuration in SAP BusinessObjects Planning and Consolidation by up to 80%. See how to install the starter kit and how to tweak and customize the delivered configuration content to fit your company’s environment. |
Categories: Financials, Governance, Risk, and Compliance (GRC), IFRS, SAP BusinessObjects Planning and Consolidation
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Key Concept
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Standard SAP starter kits are available to facilitate, secure, and accelerate the transition to International Financial Reporting Standards (IFRS). The starter kits are pre-configurations on top of SAP BusinessObjects Planning and Consolidation and SAP BusinessObjects Financial Consolidation. They deliver consolidation business logic on top of the SAP consolidation applications using both product and functional best practices to ensure optimal performance and better usability. Starter kits are pre-built with input documents, rules, control reports, and financial statements for performing, validating, and publishing a statutory consolidation in accordance with IFRS. The starter kit for IFRS is not a product that you have to buy separately — you can download it if you have a license for the respective version of the SAP BusinessObjects consolidation application. |
The adoption of International Financial Reporting Standards (IFRS) can be expensive, representing an implementation rather than just an accounting project. Adapting your analytical and reporting environment in the transition process, however, is an opportunity rather than just a mandate. You can use the adoption of IFRS as a chance to review and improve your financial consolidation and reporting systems and to enable rapid legal compliance in line with your respective jurisdiction.
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