Because , if client is having multiple company codes in different countries , for all company codes the Leading ledger must have same accounting principle, this accounting principle will be considered in which country the client is located , because for Group reporting all company codes Leading ledger must assign one accounting principle, Example: you are working for Indian Company code but your group company is located in USA, Then your leading ledger must assign IFRS, K4, and Your Non Leading Ledger should be created with IAS, V3
Hello sir I am Rohit I have one question One company group is there they have different sectors or divisions like automobile , steel , food etc . that company business in almost 10 15 countries they have total 40 50 company codes over all countries then all company code transaction is maintain in one Leading ledger then they how extract the reports for each sector ex - automobile sector they have 10 company codes in different countries , they want overall automobile sales or profit how they get Please help me out of this question since many days i have this question in my mind
Hi Ajay Sir, Thanks for the org structure explanation! I have a question on the underlying ledger for Asset Accounting as in our client also we have two different reporting period USA and India is there any other platform where I can reach out to you and try to put my question in detail or is there any doubt clarification sessions where I can have put my question as explaining in writing the question would be bit tricky and difficult. Thanks and Regards!
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Very neat and clear explanation. Appreciate 👏
It was unique, thank you very much for publishing this video
Thank you
Thank you for clearing my concept for leading and non-leading ledgers
👏👏👏👏👏👏👏👏... you are really a great teacher
Why 0L is not Local GAAP? For the company code INDIA, the leading ledger should be 0L (local gaap)
Because , if client is having multiple company codes in different countries , for all company codes the Leading ledger must have same accounting principle, this accounting principle will be considered in which country the client is located , because for Group reporting all company codes Leading ledger must assign one accounting principle,
Example: you are working for Indian Company code but your group company is located in USA, Then your leading ledger must assign IFRS, K4, and Your Non Leading Ledger should be created with IAS, V3
Hello sir I am Rohit I have one question
One company group is there they have different sectors or divisions like automobile , steel , food etc . that company business in almost 10 15 countries they have total 40 50 company codes over all countries then all company code transaction is maintain in one Leading ledger then they how extract the reports for each sector ex - automobile sector they have 10 company codes in different countries , they want overall automobile sales or profit how they get
Please help me out of this question since many days i have this question in my mind
Hi Ajay Sir, Thanks for the org structure explanation! I have a question on the underlying ledger for Asset Accounting as in our client also we have two different reporting period USA and India is there any other platform where I can reach out to you and try to put my question in detail or is there any doubt clarification sessions where I can have put my question as explaining in writing the question would be bit tricky and difficult.
Thanks and Regards!
Hii Ajay ! Why we should use non leading ledger + IFRS + INR ? why not leading ledger (0L) + IFRS + INR(Company code crncy)???
Whats the difference between Local GAAP and Indian Accounting Standerd(INDAS)