Current and non Current disclosures

[Former Member]

There are 5 GL accounts (like loan to employess, car loans, etc)

These GL will have both items - current items and non current items

There are two seperate ledger created - Leading is IGaap GL and non-leading is IFRS ledger

Let me know how this procedure i suggested in SAP

My view was to create all these GL accounts again (for current items) and pass the entry for the required amount to that GL account. Then place that GL in appropriate place in FSV

Any other view?

[Former Member]

Hi,

I understand that you maintain parallel ledger - i gaap and ifrs.

Given the above in the leading ledger,you need not maintain additional sub ledgers.Whatever you post in LL will get posted in NL by default,depending upon how you have configured.

The procedure that you have mentioned is applicable to additional accounts method and not to parallel ledger method.

My 2 cents.

Regards

Ramesh

[surs_mittal]

Hi,

In case of parallel ledgers, may be initial posting will be same - say as all classified as Non-current.

But for IFRS, entries will have to be passed in separate account to have a classification between current and non-current, and this activity will have to be carried out at year end also.

So, I think separate accounts shall be required for IFRS ledger.

Regards,

SM

[Former Member]

No answers from anyone