Accelerated Financial Closing with SAP

Revised
ISBN: 978-1-59229-446-6
Verlag: SAP PR

Buch, Englisch, 296 Seiten, Format (B × H): 179 mm x 241 mm, Gewicht: 691 g

Reihe: SAP PRESS: englisch

Your course is set and the light is green. Enable your business to navigate the hairpin turns of the financial close process with this end-to-end overview. Guided by practical workflow scenarios and customer examples, learn how to maximize the potential of SAP’s financial close solutions. From start to finish, manage data integrity issues, optimize your financial close processes, and handle system integration. Close your books in record time with this one-stop resource for all your financial closing needs!



1. Streamlined Financial Close Workflow
Align your business workflows to support a streamlined financial close process.



2. A Financial Close Action Plan
Learn how to build a business case, create a clear action plan for your financial close process, and avoid the common barriers.



3. Reporting
Proactively address disclosure management and weather regulatory change with finesse and flexibility.



4. Real-Time Visibility
Visualize your financial close success and identify issues with real time analysis and the Financial Closing Cockpit.



5. Practical Case Studies and Examples
Learn how industry peers have improved their financial close processes and reduced risk.






Highlights include: - General Ledger close

- Controlling close

- Inventory management

- Entity close management

- Intercompany reconciliation

- Information management

- Process governance

- Financial consolidation

- Disclosure management

- Financial reporting

Autoren/Hrsg.

Fisher, James

Starmanns, Birgit

Milne, Elizabeth

Fachgebiete

• Mathematik | Informatik EDV | Informatik Business Application Unternehmenssoftware SAP
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensfinanzen
• Wirtschaftswissenschaften Betriebswirtschaft Wirtschaftsinformatik, SAP, IT-Management

Inhaltsverzeichnis

Foreword. 15Preface. 19Acknowledgments. 231. Introduction to the Financial Close. 25






1.1. The Business Case for a Fast High-Quality Close. 26

1.2. Components of the Financial Close. 32

1.3. How Fast Is Fast?. 33

1.4. Barriers to a Fast, High-Quality Close Process. 36

1.5. Summary. 40





2. Creating an Action Plan for Improving Your Financial Close. 41






2.1. Vision, Benchmarking, and Sponsorship. 42

2.2. Quick Wins. 48

2.3. Big Wins. 54

2.4. Continuous Improvements. 57

2.5. Summary. 59





3. Information Management. 61






3.1. Defining Data and Information. 63

3.2. Master Data Management. 64

3.3. Transactional Data Management. 67

3.4. Summary. 75





4. The General Ledger and Subledger Close. 77






4.1. SAP ERP Financials Concepts. 77

4.2. The General Ledger Close. 83

4.3. The Accounts Payable and Accounts Receivable Close. 88

4.4. Asset Accounting Close. 91

4.5. Inventory Management. 94

4.6. Reporting. 100

4.7. Summary. 102





5. The Financial Close in Controlling. 103






5.1. Cost Element Accounting. 105

5.2. Cost Centers. 110

5.3. Internal Orders. 115

5.4. Project Systems. 116

5.5. Product Costing. 119

5.6. Profitability Analysis. 124

5.7. Profit Centers. 127

5.8. Year-End Closing. 128

5.9. Reconciliation Between the FI and CO Modules. 129

5.10. Summary. 129





6. Entity Close Management. 131






6.1. Plan and Prepare the Entity Close. 132

6.2. Execute the Entity Close. 134

6.3. Customer Story: Dow Chemicals' Faster, Less Costly Financial Close Process with SAP Solutions. 136

6.4. Monitor the Entity Close. 137

6.5. Summary. 139





7. Enhanced Internal Controls for Better Compliance. 141






7.1. Access Risk Management. 144

7.2. Identifying Controls across a Business Process. 148

7.3. Audit Management. 151

7.4. GRC Analytics. 153

7.5. Summary. 156





8. Intercompany Reconciliation. 157






8.1. Defining Intercompany Reconciliation. 157

8.2. SAP Solutions for Intercompany Reconciliation. 158

8.3. Managing the Intercompany Process. 161

8.4. Faster, Collaborative Intercompany Reconciliation with SAP Intercompany. 163

8.5. SAP Intercompany Deployment Options. 165

8.6. Security and Configuration. 167

8.7. Summary. 168





9. Financial Consolidation. 169






9.1. Data Collection. 171

9.2. Processing Data. 183

9.3. Differentiation between Consolidation Solutions. 196

9.4. Starter Kits. 204

9.5. Summary. 210





10. Disclosure Management and XBRL Filings. 213






10.1. Collect Information from Source Systems. 217

10.2. Manage Financial Statements and Reports. 224

10.3. Collaboration and Workflow. 228

10.4. Publish Disclosure Statements and Reports. 234

10.5. Create and File XBRL Statements. 236

10.6. Summary. 243





11. Financial Reporting. 245






11.1. Reporting Requirements. 245

11.2. Reporting Delivery Methods. 254

11.3. Summary. 258





12. The Future of Finance and Its Impact on the Financial Close. 259






12.1. Economic Environment and the Role of Finance. 259

12.2. Financial Operations. 262

12.3. Managing Stakeholder Expectations. 265

12.4. Ensuring Regulatory Compliance. 271

12.5. Summary. 275





13. Conclusion. 277Appendices. 281



A. Glossary. 283

B. References. 287

C. The Authors. 289



Index. 291

Über Autor(innen)

Starmanns, Birgit
Birgit Starmanns, SAP Marketing, EPM and Finance solutions. is a Senior Director of Marketing at SAP for EPM (Enterprise Performance Management) and Finance solutions. She has over 20 years of SAP experience across solution marketing, solution management and strategic customer communities with SAP, and management consulting organizations including Price Waterhouse where she implemented SAP’s financial solutions for large and medium enterprises. Birgit holds a BA and MBA from the College of William and Mary.

Milne, Elizabeth
Elizabeth Milne has over 14 years of experience improving the software solutions for multi-national, multi-billion dollar organizations. Her finance career began working at Walt Disney then Warner Bros in the areas of consolidation, budgeting, and financial reporting. She subsequently moved to the software industry and has held positions including implementation consultant & manager, account executive, pre-sales consultant & working as part of the solution management team at SAP, Business Objects and Cartesis. In 2008 she graduated with an Executive MBA from Northwestern University’s Kellogg Graduate School of Management.