Adaptation of SAP systems to IFRS accounting standards

Challenge

The Customer, operating in the Engineering & Construction sector, has expressed the need to adopt the IFRS accounting standards in the local statutory financial statement.

Until that time, the IFRS accounting principles had been adopted only at the level of the Customer’s Consolidated Financial Statements. The Customer has decided to adopt them also at local level, involving not only the administration functions, but also those relating to management control.

Solution

The solution adopted for the transition to the IFRS accounting standards required a review of the SAP FI-CO data model and an enrichment of the information managed in all the accounting records, in order to be able to detail the Income Statement not only by nature but also by destination.

The revision of the model also led to the redefinition of the reporting in SAP BW, using HANA Studio functionality and Analysis for Office front-end.