IFRS and US GAAP

Name: leverX Company
Brand: LeverX
Rating: 4.9 (114 reviews)

SAP FI ensures transparent reporting that goes in line with international standards

Collaborating with an SAP Gold Partner provides access to resources and seasoned professionals, ensuring your project's reliability. Their expertise tailors SAP solutions for your unique needs, optimizing ROI and efficiency.

Partnering with an SAP Global Strategic Supplier goes beyond buyer-seller dynamics. They provide critical solutions for global operations, collaborate on product development, and drive strategic initiatives.

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Benefits

Deployment

Roadmap

Expert consultation

International Financial Reporting Standards (IFRS) is a set of standards that are used to prepare financial statements for investors (both real and potential), so they can see a complete financial picture of the company and act accordingly.

In turn, US GAAP is an alternative system of financial accounting standards and principles most commonly used in the United States.

Because these methodologies are considered to be well-established, a lot of countries refer to IFRS and US GAAP and many governments strive to have their national standards equal to them.

Pharmaceutical, insurance, banking, retail, and other industries follow IFRS and US GAAP standards.

Due to the possibility of maintaining parallel accounting, the SAP FI module displays all information required for the creation of financial statements according to these standards.

SAP FI has a pre-configured toolset that allows displaying operations according to international standards. You can manage several types of accounting simultaneously without any extra accounting systems or databases.

Ensure maximum transparency of all processes in the system

Create documents in parallel ledgers

Maintain various valuations of fixed assets and company’s stocks

Keep records in several currencies at the same time

Prepare reports based on different analytics concepts

Avoid data duplication by integrating FI with other SAP modules

SAP S/4HANA Implementation

New generation ERP system that enables digital transformation
It will replace the traditional SAP ECC after 2027
Cloud, on-premise and hybrid deployment
Built-in predictive analytics
Improved performance and faster processing of large data volumes

SAP ECC Implementation

SAP ECC and modules will no longer be supported after 2027
Limited functionality, which is a barrier to digital transformation
Lack of in-built intelligent technologies
Outdated SAP ECC features
Only on-premise deployment (database with disk drives)

All data required to create financial statements in accordance with national and international standards is collected and displayed in SAP FI.

How to implement SAP FI in your company's processes, taking into account all the specifics of the industry and your business? Should you integrate SAP FI with other SAP modules (MM, SD, EWM, etc.)? How to configure the correct operation of the system and keep it running smoothly?

Thanks to the hands-on experience of implementing SAP Financial Accounting in the business processes of large manufacturing enterprises and a great number of successfully completed SAP FI projects in Europe and Asia, the LeverX team will answer all questions above and help your organization conduct financial accounting processes much faster and more efficiently, in this way allowing you to control the company's cash flow with the SAP FI module.

Choose SAP FI for maximum transparency in financial transactions and compliance with international standards!

Why LeverX?

Proven track record

For over 20 years, we have helped businesses worldwide succeed with SAP. We’ve already completed 950+ projects for over 800 clients, including top names on the Fortune 500 list.

Industry experts

The LeverX team comprises professionals with hands-on knowledge in 30+ industries, including manufacturing, logistics, and oil  and gas.

SAP partnership

We implement SAP projects end-to-end  and collaborate with SAP on the development and enhancement of its existing solutions.

Quality and security track record

LeverX operates in compliance with international standards such as ISO 9001, ISO 27001, ISO 22301, and ISO 55001, ensuring reliability and quality in every project.

Investment in innovation

We actively integrate advanced technologies, such as Data Science, IoT, AI, Big Data, Blockchain, and others, to help clients efficiently address their business challenges.

Flexibility

Our team is available 24/7, which enables us to quickly deploy projects, maintain process transparency, and adapt each development phase to meet your specific requirements.

Development of the implementation strategy based on the customer's business requirements and solution capabilities.

Discover

Project plan and goals finalization. Together with the customer, we determine a project structure, management, tracking, and reporting mechanisms. At this stage, roles and responsibilities in the project team are defined.

Prepare

Verification phase. We make sure that the solution and project scope meet the customer's business requirements.

Explore

Customization and integration of SAP components into the customer's IT infrastructure. Our experts configure and further develop the system if required.

Realize

Data transfer from legacy systems into the SAP production system, tests, and roles/authorizations validation for all users.

Deploy

1

An expert will reach out to you to discuss your specific migration needs and requirements.
2

We will sign an NDA to ensure any sensitive information is kept secure and confidential.
3

We'll work with you to prepare a customized proposal based on the project's scope, timeline, and budget.