Accenture Introduces New SAP-Based IFRS Solutions for Finance Management in Japan
New offerings designed to help companies maximize performance of enterprise-wide finance operations while fulfilling IFRS requirements
TOKYO; June 22, 2010 -- Accenture (NYSE: ACN) has introduced two new solutions designed to help Japanese companies comply with International Financial Reporting Standards (IFRS) as they convert from the Japanese J-GAAP accounting requirements to IFRS. The solutions are integrated with Accenture’s Enterprise Perfomance Management (EPM) offerings, which help companies develop processes, systems and metrics tied to budgeting, forecasting and financial reporting that can be used to monitor a company’s performance against its business objectives and relative to its competition.
The new IFRS-related solutions, which are based on SAP products, include the Business Planning Solution, which enables the implementation of an iterative four-step process, Plan-Do-Check-Act. The four steps are designed to help companies improve their business processes as part of the IFRS conversion process. The other solution is designed to help companies smoothly consolidate their IFRS-based accounting systems across the enterprise. Both will be used in Accenture systems integration projects involving conversions to IFRS in Japan, and their use is expected to enable more rapid performance management systems upgrades for conversion to IFRS. Once implemented, the capabilities delivered in these solutions will help Japanese companies collect real-time data from across their enterprises, thereby providing management with the ability to make business decisions in less time which can contribute to a company’s competitive advantage.
The Business Planning solution is used to help support strengthening global governance and budget control processes. To that end, the solution provides information management capabilities that collect and report data from across the enterprise whether it comes from a management function, business unit, organization, brand, customer activity, sales channels or rolling forecasts, to name a few. The solution can also be consolidated into other solutions tailored to the specific industry, such as consumables, high-tech or financial services.
The Consolidated Accounting Solution is an IFRS solution with interchangeable templates for IFRS accounting. It is intended for Japanese businesses that have used group consolidated accounting based on J-GAAP and now want to apply IFRS at an early stage. This solution combines an EPM solution, including SAP Business Objects Financial Consolidation, a consolidated accounting solution, and the capability to extract consolidated information from their systems developed by Accenture. It also includes capabilities to support the conversion from J-GAAP to IFRS, the abstraction of consolidated information, the collection of annotation information from individual companies. Japanese businesses can then quickly and efficiently construct a consistent, consolidated IFRS-based accounting process, and improve their global management capabilities. Because this solution also includes prototypes that run on the actual system, businesses can evaluate how to apply IFRS based on more specific, visible information.
Takeshi Kirii, vice president, business user and platform group, SAP Japan said: “SAP Japan welcomes the addition of an IFRS support solution for Japanese businesses to Accenture’s EPM offerings. We firmly believe that adding capabilities based on Accenture’s extensive knowledge of IFRS to SAP products will enable the provision of an even more powerful solution set. From now on, we would like to step up collaboration between SAP and Accenture, both of which already have a proven record worldwide, including Japan. In this way, we will drive the market for IFRS support among Japanese businesses by maintaining a strong partnership.”
For more information about Accenture’s services in relation to IFRS, visit: https://microsite.accenture.com/jp-ifrs/
Accenture is a global management consulting, technology services and outsourcing company, with more than 181,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is www.accenture.com.
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