Asset Under Construction - Group Ledger US GAAP (33G)

Assets under Construction (AuC) are a special form of tangible assets. They are usually displayed as a separate balance sheet item that requires separate account determination and their own asset classes. During the construction phase of an asset, all actual postings are assigned to the AuC. Once the asset is completed, a transfer is made to the final fixed asset. Ledger-specific transactions such as Settlement Distribution Rule would influence the settlement result in different accounting principles.

This scope item is for US GAAP.

Key Process Steps Covered

• Assets under Construction (AuC) are a special form of tangible asset. The AuC process includes an invoice and the final settlement.
• Settle asset under construction
• Create assets for complete AuC settlement
• Maintain settlement rule for final settlement in parallel ledger
• Perform final settlement of the investment order (collective processing)

Benefits

• Support US GAAP accounting principle
• Settle based on parallel ledger

Additional Information

• This scope item is excluded from the default activation

All starter, demo, and trial systems are by default setup with group ledger IFRS. This scope item is therefore excluded. Customers can decide to use this scope items in the Q- and P-system based on the selected scope bundle.

Where is Asset Under Construction - Group Ledger US GAAP(33G) 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 Under Construction - Group Ledger US GAAP (33G)

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