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New users have traditionally struggled to understand the way SAP separates Financial Accounting and Management Accounting where most legacy systems see the two as one. While it’s easy enough to understand how a payroll account flows from the profit and loss statement into cost center accounting because the account information stays the same, the situation becomes more challenging as a revenue account flows into profitability analysis and is transformed into a value field, or a cost of goods sold account becomes multiple value fields depending on the cost components involved. In its latest product release, SAP is bringing the two worlds closer together.
We have shared a few sections of of the transcript from Janet Salmon's plenary session at the Controlling conference (read Part I and Part II), Janet explores how SAP is addressing these issues with its new product SAP Accounting powered by SAP HANA, part of SAP Simple Finance. Additionally, she delves into how the requirements for internal and external reporting are converging and how this convergence impacts SAP Controlling.
Read the entire transcript here. Janet-Salmon-Plenary-Transcript-for-ERP-Corp-Blog.pdf
Watch the video live from Controlling 2014 here: https://youtu.be/FOGMO-pFmcs
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Explore the first planning applications that allow you to plan costs according to the new paradigm of SAP Simple Finance, where the account is the leading dimension for all accounting activities.