Any company or group of companies that has to prepare consolidated financial statements must comply with various accounting standards. These include, above all, IFRS and HGB. In order to do this efficiently and audit-proof, professional group accounting relies on modern solutions such as SAP BCS/4HANA. The tool allows individual companies to be consolidated while managing complex reporting requirements.
BCS stands for Business Consolidation. This is the actual tool that can be used to create consolidated financial statements. HANA stands for SAP’s database system on which the current product portfolio is based. The data usually comes from a pre-system such as S/4HANA.
Many companies are currently facing the challenge of having to decide on a new system for consolidation because SAP BW NetWeaver is to be discontinued by 2027. BW/4HANA is regarded as the strategic successor product and is one of the most modern data warehouse solutions currently available on the market. Migrating to SAP BCS/4HANA is therefore an obvious choice.
SAP BCS4/HANA enables group-wide consolidation. This includes reconciling receivables and payables, eliminating interim results and taking internal business transactions into account. Both IFRS and HGB financial statements can also be created in the SAP world, including specific requirements such as the treatment of goodwill in the course of company acquisitions. SAP BCS/4HANA is considered to be particularly flexible for mapping complex corporate structures.
SAP BCS/4HANA is based on the SAP BW/4HANA business warehouse, which goes far beyond the standard when complex logics need to be mapped. In addition, SAP BCS/4HANA can be linked to the existing SAP ERP infrastructure because both solutions draw on the data in the S/4HANA upstream systems. At the same time, SAP BCS/4HANA meets all current requirements of auditors and thus guarantees transparent and audit-proof financial statements.