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Showing posts from November, 2009

SAP FICO Year End Procedures

We are approaching the year end. And those of you who are new to SAP year end procedure for FICO, I am listing the transactions or procedures you need to follow. This is an indicative list and you can tailor the year end procedures as per the requirements of your company or client.

This is also one of the interview questions for SAP FICO Consultants.

1. Pre-Year End/House Keeping - Actioned before Year End

1.a Confirm that balance carried forward account exists - Txn OB53
1.b Review Customer/ Vendor number ranges: Txn XDN1 for AR and XKN1 for AP
1.c Review Document number ranges for AP/AR/GL: Txn FBN1
1.d Review Document number ranges for Assets: Txn AS08
1.e Review Document number ranges for EC-PCA: Txn GB02
1.f Review Document number ranges for CCA: Txn KANK
1.g Review All program variants and variant variables: Txn SE16 and review table VARIT for Z* programs and other scheduled jobs
1.h Factory Calendar: Txn SCAL
1.i Open Periods Txn OB52
1.j Create Fiscal Year Variants 5 years ahea…

Operating and Financial Review - OFR

Non financial information in the form of additional reporting provides alongside the financial information in the annual report, provides a good insight to the stakeholders on the company.

In January 2008 the ASB issued a press notice reminding UK quoted companies of the need to follow the enhanced business review reporting requirements in the Companies Act 2006. The ASB believes its Reporting Statement on the OFR includes all of the new Companies Act 2006 requirements and that this statement continues to provide applicable best practice guidance for UK companies.

The Reporting Statement involves:

The specification of a number of principles for directors to apply when preparing an OFR; and the provision of recommended key elements of a disclosure framework to apply in an OFR.The principles in particular make clear that the OFR should reflect the directors' view of the business. The objective is to assist members of the company (the current shareholders) to assess the strategies adopt…