Asset Accounting - Group Ledger IFRS (1GB)

Asset Accounting - Group Ledger IFRS (1GB)

Asset accounting is a subsidiary ledger of the general ledger and is used to manage and document fixed asset transactions in detail. In general ledger accounting, can update depreciation and changes to asset balance sheet values in asset accounting. You can also make various account assignments to cost accounting for these transactions. Because of the integration in SAP S/4HANA, Asset Accounting (FI-AA) transfers data directly to and from other SAP S/4HANA components like Financial Accounting (FI) components.

Ledger-specific transactions and reports support analysis of depreciation and asset balance to fulfill different accounting principle, such as Asset Revaluation, Depreciation Reporting, Manage Depreciation Runs, Asset Balance, and Asset Total Depreciation.

This scope item is for IFRS.

Key Process Steps Covered

  • Create asset submaster
  • Valuate assets
  • Perform month-end closing
  • Perform year-end closing

Benefits

  • SupportĀ IFRS accounting principles
  • Calculate values for depreciation in parallel ledger
  • Analyze asset balance for various depreciation areas
  • Enable ordinary revaluation in general for IFRS

Where is Asset Accounting - Group Ledger IFRS(1GB) being used?

This Scope item is used in the following way:

  • As a support function of Accounting and Financial Close within Finance Scope Item Group

Process flow of Asset Accounting - Group Ledger IFRS (1GB)

Find below the process flow of the scope item Asset Accounting - Group Ledger IFRS as it is defined for release s4h-2021.


Download Process Flow of Best Practice scenario Asset Accounting - Group Ledger IFRS (1GB) - S/4HANA OP
Ref: Finance of SAP S4H-2021
Best Practices related to S/4HANA*1) Yearly Updates are released per September of each year
*2) The Quarterly updates are released per Februari, May, August and November
Details of future releases can be found in the SAP Roadmap section of each product. Go to SAP Roadmap Product Finder.
Knowledge Center Scheer Nederland | The Process Experts Visit also the SAP Cloud ERP knowledge center of Scheer Netherlands. The following topics are covered:
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