SAP® Disclosure Management 10.0, Starter Kits for IFRS and U.S. GAAP
Streamline Compliance, Reduce Implementation Times
In the March 2012 “Magic Quadrant for Corporate Performance Management Suites”, Gartner® emphasized disclosure management capabilities “should support specific generally accepted accounting principles (GAAP) presentation rules, such as U.S. GAAP or International Financial Reporting Standards (IFRS), to enable the preparation of statutory financial statements with appropriate commentary and supplementary notes. Increasingly, financial-reporting solutions incorporate process controls for reporting and disclosure, such as templates, collaboration between the company and the financial statement publisher, business rules, workflow, and audit trails to better meet regulatory, compliance and governance programs. In addition, they should support financial-reporting technologies, such as eXtensible Business Reporting Language (XBRL), as regulators increasingly require the submission of financial statements in XBRL format.”
We are pleased to announce the availability of SAP® Disclosure Management, starter kits for U.S. GAAP and IFRS to accelerate the ‘last mile of finance’ and enable customers to quickly announce their financial results. The starter kits for U.S. GAAP and IFRS have been released in May 2012 and deliver on SAP’s commitment to provide pre-configured software in order to streamline compliance, reduce implementation times and decrease total cost of ownership.
SAP® Disclosure Management, starter kit for U.S. GAAP and SAP® Disclosure Management, starter kit for IFRS deliver business logic for the “last mile of finance” on top of a collaborative, flexible disclosure solution using both product and business best practices. These pre-configurations assist customers in setting up their application in order to publish financial and non-financial regulatory statements and notes as well as to file the corresponding data in XBRL format. They have been designed to maximize customer time-to-value when used in combination with transactional and consolidation systems, in particular SAP® Business Planning and Consolidation and SAP® Financial Consolidation applications.
SAP® Disclosure Management, starter kit for U.S. GAAP
The starter kit is based on the 2012 U.S. GAAP Taxonomy as adopted and supported by the U.S. SEC (United States Securities and Exchange Commission) on March 26th, 2012. It includes a predefined financial report designed according to Regulation S-X detailed requirements for financial statements. The starter kit addresses U.S. SEC requirements for domestic and foreign issuers through pre-built forms such as the 10-Q template compliant with the EFM (EDGAR® Filer Manual) rules and based on the U.S. GAAP architecture. To download the starter kit for U.S. GAAP, Click here SAP Note 1712907 (SAP Service Market Place, login required).
SAP® Disclosure Management, starter kit for IFRS
The starter kit is based on the IFRS Taxonomy 2012 as published on March 29th, 2012 by the IFRS Foundation and includes a predefined financial report designed according to IAS 1 and IAS 7 requirements. The starter kit addresses U.S. SEC requirements for Foreign Private Issuers through a pre-built 20-F form template compliant with the EFM rules and the IFRS Taxonomy 2012 Guide. To download the starter kit for IFRS, Click here SAP Note 1691138 (SAP Service Market Place, login required). To get the Configuration Overview, Click here (SAP Service Market Place, login required).
Director, SAP Enterprise Performance Management