Re: Handling Dual GAAP in IFM

You can set up GAAP periods in addition to you regular non-GAAP periods.
When you report GAAP, you would include the new GAAP periods (in a different
period structure for GAAP). When you report non-GAAP you would exclude those
periods. 

Another way would be to set up new financial divisions for each company with
only a GL and enter your journal entries for the GAAP adjustments there. You
would have to consolidate the 2 financial divisions when you report GAAP. 

I don't know how you do your reporting, but your finance people should be
able to tell you which method would make more sense for them.

Vanessa King

-----Original Message-----
From: mapics-l-bounces@xxxxxxxxxxxx [mailto:mapics-l-bounces@xxxxxxxxxxxx]
On Behalf Of Selvaraj Pillai
Sent: Thursday, April 06, 2006 1:04 AM
To: mapics-l@xxxxxxxxxxxx
Subject: [MAPICS-L] Handling Dual GAAP in IFM

Hello List,


We are at MAPICS release 6.0 and using IFM with several other modules. We 
have one common MAPICS environment for four factories (sites) in three 
different countries namely, Singapore, Thailand and China. Each sites are 
differentiated by its own Company code, warehouse code, Site code, and 
Financial Division code.

Our local / reporting currency is USD. All countries reports to the 
Corporate (in USA) in USD (US GAAP). Each country has also has its own 
GAAP, namely China GAAP, Singapore GAAP and Thailand GAAP. 

Currently, they extract out the transactions from IFM and the adjust 
manually in Excel system for the respective GAAP requirement. We want to 
make this automate in IFM itself.

Basically, we will have only one MAPICS environment with individual 
financial division for each sites in USD, and would need a reporting in 
local GAAP.
Is there any one in the list has come across such requirements? If so, 
please share your ideas that may help us. Thanks. 


Regards,

S.P. Selvaraj
Pemstar Singapore Pte Ltd 
2 Woodlands Sector 1, #021-23 
Woodlands Spectrum. Singapore - 738068. 
Tel. Dir (65) 65868009, Mobile (65) 94243657

The information contained in this message, and any attachments, are or may 
be privileged and/or confidential and protected from disclosure and may 
also be covered by the Electronic Communications Privacy Act, 18 U.S.C. 
2510-2521. If the recipient of this message is not the intended recipient 
or authorized to receive this information for the addressee, you are 
hereby notified that any dissemination, distribution or copying of this 
communication is strictly prohibited. If you have received this 
communication in error please delete it from your computer immediately. 
_______________________________________________
This is the MAPICS ERP System Discussion (MAPICS-L) mailing list
To post a message email: MAPICS-L@xxxxxxxxxxxx
To subscribe, unsubscribe, or change list options,
visit: http://lists.midrange.com/mailman/listinfo/mapics-l
or email: MAPICS-L-request@xxxxxxxxxxxx
Before posting, please take a moment to review the archives
at http://archive.midrange.com/mapics-l.