Recent, unparalleled, changes in financial reporting requirements from the SEC, GAAP, and IFRS have transformed the way companies comply with regulatory requirements. Core financial reporting for Mergers and Acquisitions, financial instruments, pensions, and other key accounting transactions and balance types, have been relegated to manual spreadsheet reconciliations, transformations, and consolidations. The good news is that all this is no longer necessary with the use of Secondary Ledgers. Secondary ledgers are used to capture both a corporate and second representation of the same legal entity.
Learning Objectives: After completion of this program you will be able to:
- Objective 1: Discuss significant changes in financial reporting requirements from regulatory agencies.
- Objective 2: Demonstrate the basic mechanics of using Secondary Ledgers to address regulatory requirements.
- Objective 3: Calculate the cost savings from using Secondary Ledgers to replace reporting spreadsheets.
- Objective 4: Identify the EBS configuration requirements for effective use of Secondary Ledgers.