IFRS and US GAAP

Name: leverX Company
Brand: LeverX
Rating: 4.9 (11 reviews)

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

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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Outdated SAP ECC features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!

GLOBAL SYSTEM INTEGRATOR

LeverX is an International company with 14 offices in 10 countries that specializes in SAP Implementation and customization.
Full-cycle technology consulting, development, and cost-effective implementation services for successful business transformation and sustainability.
We offer custom software development services to companies to deliver tailor-made solutions that cater to clients' specific requirements

TECHNOLOGY & MANAGEMENT

Short engagement ramp-up and project set-up, strong management
Continuous investment in innovation and early adoption of cutting-edge technologies (Data Science, IoT, Artificial intelligence, Big Data, Blockchain etc.)
Creation of projects in accordance with ISO 9001, ISO 27001, ISO 22301, ISO 55001 quality and safety standards.

EXPERIENCE

20+ years of working with SAP solutions. LeverX is an SAP-certified partner and preferred vendor.
1 600 IT-experts with deep knowledge of the latest SAP technologies and solutions.
950+ successful projects. We help companies of all sizes and across various industries to leverage the power of SAP.

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

Our experts will reach out to you for a thorough discussion of your specific needs and requirements.
2

If your project involves sensitive information, we will sign an NDA to ensure the confidentiality and security of your data.
3

Our team will prepare a customized project proposal with scope, timeline, and budget for your informed decisions.