The thee main reporting scenarios are analyzed in the animation below:
In addition, there are two more reporting scenarios worth diving into:
Scenario 4: Review booklets in SAP S/4HANA Cloud group reporting
The Group Financial Statement review booklet is a Fiori application for group accountants, to achieve more transparency in group financial statements. Group accountants need to monitor and validate multiple aspects of the financial statements during the closing process. Typically, this work is done under high time pressure with many recurring validation tasks on aggregated group data, both top-down as well as bottom-up.
The Group Financial Statement review booklet provides out-of-the-box business pages and guidance to help to streamline the group close. It contains:
- predefined page layouts help to answer typical business questions on elements such as balance sheet, profit and loss, cash flow statement or statement of changes in equity.
- guided navigation helps to analyze predefined variances and validate the underlying group data.
- full transparency into the data with an intuitive UX including multi-dimensional analysis, and drill-through the more granular accounting line item.
Scenario 5: The preparation of regulatory disclosures describes the final step of consolidation reporting. This is done with the help of SAP Disclosure Management in combination with SAP S/4HANA Cloud for group reporting.
SAP Disclosure Management based on data from SAP S/4HANA Cloud for group reporting automates the creation, electronic submission, and publication of statutory financial statements, financial reports, annual reports, embedded reports, including XBRL or iXBRL electronic reports.
XBRL is the abbreviation of the term "Extensible Business Reporting Language". This "language" is used to standardize and rationalize the reporting flow of company information from the disclosing party to the information recipient. Year-end closing data (balance sheet, profit and loss statement, and other data) is particularly important.
Inline XBRL (iXBRL), is an open standard that enables a single document to provide both human-readable and structured, machine-readable data. iXBRL is used by millions of companies around the world to prepare financial statements in a format that provides the structured data that regulators and analysts require, whilst allowing preparers to retain full control over the layout and presentation of their report.
The advantages of using SAP Disclosure Management in conjunction with SAP S/4HANA Cloud for group reporting include:
- Creation of a timely, accurate, risk-free and fully automated main closing process.
- Acceleration of the main close with a better control while reducing compliance costs.
- Faster processing and flexibility.
- Fostering and simplifying team collaboration.
For more information please check: https://blogs.sap.com/2020/11/23/sap-s-4hana-for-group-reporting-delivers-the-last-mile-of-reporting-with-sap-disclosure-management/