Académique Documents
Professionnel Documents
Culture Documents
FINANCIAL CONSOLIDATIONS,
ELIMINATIONS, FOREIGN
CURRENCY AND IFRS REPORTING
January 2013
Version 1
Table of Contents
FINANCIAL CONSOLIDATIONS .................................................................................................................................. 3
INTRODUCTION .......................................................................................................................................................... 3
AUDIENCE ..................................................................................................................................................................... 3
SCENARIO...................................................................................................................................................................... 4
PROBLEMS THIS DEMO ADDRESSES .................................................................................................................. 4
KEY PAINS THIS DEMONSTRATION ADDRESSES ........................................................................................... 4
KEY COMPETITIVE POINTS ...................................................................................................................................... 5
DEMO PRESET CONFIGURATION ......................................................................................................................... 5
BEFORE YOU BEGIN ................................................................................................................................................... 5
DEMO OVERVIEW....................................................................................................................................................... 7
CONCLUSION............................................................................................................................................................ 45
DISCLAIMER ............................................................................................................................................................... 46
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
FINANCIAL CONSOLIDATIONS
INTRODUCTION
Microsoft Dynamics AX Financial Consolidations functionality allows users to combine
the financial results for several subsidiary companies into results for a single,
consolidated company. The subsidiaries can be in the same Microsoft Dynamics AX
database or in separate databases.
If the data for subsidiaries is recorded in foreign currencies, you can consolidate financial
results in compliance with Regulation FASB 52 of the Generally Accepted Accounting
Principles (GAAP). The GAAP are created and interpreted by the Financial Standards
Accounting Board (FASB) and the International Accounting Standards (IAS).
Depending on the translation method that is required in your country/region, you can
select different exchange rates for the various types of ledger accounts in the
consolidated company. You can also specify the account in the consolidated company to
which exchange differences are posted.
AUDIENCE
The demonstration in this document should be used to show the value of AX 2012 R2
Consolidations to a business decision maker (BDM) and accounting personas. The
following role examples represent key decision makers, selection process personnel and
influencers and/or evaluators:
CFO (Sara): Sara develops the financial plan and goals for the company and
continuously monitors performance against them. Others rely on her to assess
the financial viability of opportunities. Sara relies on Ken and Phyllis to provide
her with the information she needs for business insight.
Controller (Ken): Ken tracks the departments financial goals and continually
improves processes to achieve financial goals. He proposes and helps implement
changes to optimize performance. He may approve documents and payments.
Accountant (Cassie): In an external role, Cassie either does the books (for a
small business), or audits the books (for any size company). In an internal role as
an employee, Cassie takes care of accounting duties within a complex finance
department.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
SCENARIO
In Microsoft Dynamics AX 2012 R2, a consolidation (parent) company is created to report
financial results for a group of companies. A consolidation company called Contoso
Entertainment System, or GLMF, is one of the consolidation companies created in the
Microsoft Dynamics AX 2012 R2 demo data for this purpose. The financial data from the
subsidiary companies is consolidated into the GLMF company, and then a financial
report is created using the combined data. In this demo, Contoso Entertainment System
USA (USMF) and Contoso Entertainment System Germany (DEMF) are wholly-owned
subsidiaries within the Contoso Entertainment Group of companies. USMF and DEMF do
transact with each other and require intercompany eliminations during the consolidation
process.
User
Ken
(Controller)
Phyllis
(Accounting
Manager)
Cassie
(Accountant)
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
Domain: CONTOSO
User: Administrator
Password: pass@word1
Demo Pre-Setup
1. Start Microsoft
Dynamics AX 2012
R2
2. Main accounts
form
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
3. IFRS
adjustment
journal
Scope = Company
Company = USMF
o
4. General
journal entry
and Opening
transactions
5. Consolidations
Manufacturing B/S
Manufacturing P&L
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
DEMO OVERVIEW
This demo introduces the basic steps required to do a financial consolidation in
Microsoft Dynamics AX 2012 R2. This demo provides an overview of the major concepts
to introduce you to key features and enhanced features that are available to users of the
financial consolidation feature in AX 2012 R2.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
In the scenario where the organization wants to use a shared chart of accounts across all legal entities but has
requirements for local reporting using a different chart of accounts for more than one other chart of accounts,
there is the option to set up consolidation account groups (General ledger > Setup > Chart of accounts >
Consolidation account groups). These user-defined groups provide support to map a single main account
value to multiple consolidation accounts (General ledger > Setup > Chart of accounts > Additional
consolidation accounts).
To prepare reports and financial statements for the consolidated legal entity that are based on financial
dimensions, if the consolidated legal entity financial dimensions are different than the subsidiary legal
entity financial dimensions, map the financial dimensions using the Group dimension field in the Financial
dimension values form (General ledger > Setup > Financial dimensions > Financial dimensions > Financial
dimension values). This mapping is similar to the previous steps of mapping a consolidation account to a
main account.
Definition of the subsidiary companys accounting and reporting currency, as well as default
realized/unrealized gain/loss accounts and default exchange rate types can be found on the Ledger form
(General ledger > Setup > Ledger).
Unrealized gain/loss accounts: Defined as the system account for currency exchange revaluation
adjustments resulting in a gain or loss against the companys accounting currency. In the source company,
this typically is a P/L account. In the consolidation company, it is typically a CTA (cumulative translation
adjusmtent account in equity) account.
Realized gain/loss accounts: Defined as the system account for currency exchange adjustments resulting in
a gain/loss when settling transactions such as customer or vendor payments against invoices. In the
consolidation company, realized gain/loss amounts are not applicable as you cannot record payments and
invoices in a consolidation company. Only elimination entries and closing sheet adjustments are allowed.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
5. Navigate to the
Ledger form
(General ledger >
Setup > Ledger)
6. Note that the
accounting
currency and the
reporting currency
are set as USD for
USMF.
7. Close the form.
Exchange rate types allow users to define different exchange rates for the same pair of currencies, such as
CAD to USD or USD to EUR. Exchange rates need to be defined for all currencies that the company
transacts in.
A currency pair (From currency and To currency) can only be defined once for the same rate type. For
example, if you set up exchange rates from USD to CAD, you will not be able to set up exchange rates for
CAD to USD in the same rate type. The system will automatically calculate and use the reciprocal exchange
rate when converting CAD to USD in this scenario.
The reciprocal rate is calculated as (Quotation unit/Exchange rate).
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
10
8. Navigate to the
Currency exchange
rates form
(General ledger >
Setup > Currency
> Currency
exchange rates).
9. Select the
Exchange rate type
of Default.
10.
Close the
form.
To view the currency exchange calculation, enter a journal entry in CAD currency. USD is the accounting
currency for USMF.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
11
12.
Navigate to
Click New.
14.
Select GenJrn
as the journal
name.
15.
Click Lines.
16.
to 1/1/2012.
17.
Enter the
primary account as
120250-001-023.
18.
Enter debit
amount of 100.00.
19.
Enter the
offset account as
250200-001-023.
20.
Change the
Currency to CAD.
21.
Go to the
Post the
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
12
23.
Go to the
Search for
main account
120250.
25.
Select Posted
journal entries
from the action
pane.
26.
Note the
Amount in
transaction
currency (CAD) is
100.00 and the
Amount in
accounting
currency (USD) is
displayed as 97.29
in the Amount
column.
This demo provided an overview of the primary components of the subsidiary company setup that will be
used in a later demo on financial consolidation.
END OF DEMO SCENARIO 1
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
13
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
14
Account.
5. Navigate to
General ledger >
Periodic > Foreign
currency
revaluation.
6. Specify 120250 as
both the From and
To Main account.
7. Specify a date
range of 1/1/2012
to 1/31/2012.
8. Specify CAD as
both the From and
To Currency code.
9. Select the Adjust
balance sheet
accounts option.
10.
Click OK to
revalue the
selected main
account.
When the revaluation process is finished, balances that are in the accounting currency are updated to use
the currency exchange rate. An adjustment is also made for the reporting currency amount if the exchange
rate is different. For this demo, since the reporting currency is also USD, and adjustment has been made to
both the accounting currency and reporting currency amounts.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
15
11.
Go to the
Main accounts
list page
(General ledger
> Common >
Main accounts).
12.
Search for
main account
120250.
13.
Select
Posted journal
entries from the
action pane.
14.
entry (should be
the default
selection). The
amount in the
Amount column
is the foreign
currency
revaluation
adjustment amount
for the accounting
currency. A
separate entry
displays for the
adjustment to the
reporting currency
amount.
The offset account posted to with the foreign currency revaluation process is to the unrealized gain or loss
account defined on either the currency revaluation accounts form or the ledger. The system will first look to
the accounts defined on the currency revaluation accounts form as that is the most granular. If an account
does not exist, the system will then look to the ledger for the correct account to use as the offset.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
16
15.
Select
Voucher from
the action pane.
16.
Click on the
Ledger account
column to sort
the data.
17.
Note the
entry to the
unrealized gain
account.
18.
In the last
column, the
posting layer for
each entry is
displayed. In this
scenario,
Current is
displayed, which
is the typical
layer used for
posting entries
for local GAAP
reporting. The
consolidation
process will pull
in the entries by
posting layer.
19.
Close the
voucher form.
20.
Close the
Account number
form.
Note: Demo
Scenario 3 covers
the topic of posting
layers as they relate
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
17
to IFRS reporting
requirements.
This demo provided an overview of the foreign currency revaluation process in the USMF subsidiary
company.
END OF DEMO SCENARIO 2
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
18
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
19
For intangible asset revaluations, the difference between the revalued amoutn and the net book value is posted to a
reserve account. An equity account 300180 (Reserve for Intangible Asset Revaluation) is already created for this demo
Increase in asset value is to a balance sheet account, a decrease in asset value is to a P/L account.
9. Navigate to General journal
(General ledger > Journals >
General journal).
10.
Click Lines.
12.
13.
14.
15.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
20
16.
layer to Total.
19.
Click Update.
20.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
21
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
22
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
23
1. Navigate to the
General journal
(General ledger >
Journals > General
journal).
2. Select to create a
new journal IntJrn
3. Click Lines.
4. Enter the following:
a. Date:
1/15/2012
b. Account:
601300-001022- c. Credit amount:
1,000.00
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
24
9. Microsoft
Dynamics AX will
create 2 journal
entries one in
each company.
10.
Close the
infolog.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
25
11.
Click Inquiries
line.
13.
The system
automatically
created the
Intercompany Due
from entry in
USMF.
14.
A similar entry
Close the
Voucher
transactions form.
16.
Close the
Journal voucher
and Journal forms.
Lets next take a look at the elimination rules.
Navigate to GLMF company for the next steps.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
26
17.
Navigate to
Select to
create a new
elimination rule.
19.
name for
example,
Intercompany
Advertising.
20.
Enter GLMF as
the Destination
company. This
must be a legal
entity set up as an
elimination
company.
21.
The Active
checkbox indicates
whether the
elimination rule is
available for
processing. Select
to activate this rule.
22.
In the Journal
settings section,
there must be a
journal Name that
has the type equal
to elimination in
order to process
successfully. Select
ElimJrn.
Select Lines. On the lines form, you enter additional information for the elimination rule, such as the elimination
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
27
elimination method.
Fixed amount: Eliminates a specified amount for an account. With this method, a manual process
Select New.
24.
We will keep
the Elimination
method as Net
change for this
demo.
25.
Enter the
source accounts to
eliminate. We will
enter two lines
one for account
133300 and
another for
231300.
Additional setup can be done if necessary to specific specific dimensions to eliminate or to eliminate to specific
destination accounts.
This demo showed the setup of an elimination rule. There are 2 ways to actually create elimination journal entries.
There is the Elimination journal proposal method, which you do under General ledger > Journals > Elimination
journals from within the elimination company (such as GLMF). This method of processing an elimination rule may
be preferrred if you first must consolidate data, confirm the data in the consolidation cmopany is accurate, and then
run a separate elimination journal proposal to create, preview and validate or approve the elimination journal
entries.
Or elimination can be created during the Consolidate online process in a consolidation company that is also set up
as an elimination company. This may be preferred if consolidations are simple and the ease of a one-step process is
desirable. Demo Scenario 5 will process the elimination rules during the consolidation online process.
END OF DEMO SCENARIO 4
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
28
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
29
30
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
31
6. In GLMF, Navigate to
General ledger >
Setup > Ledger.
7. Close the Ledger
form.
Exchange rate types allow the setup of different exchange rates for the same from and to currency (currency
pair). Exchange rate types are available for use with consolidation to provide support for IAS 21 and FASB 52.
For example, you can use a rate type that represents the average exchange rate for the period when
consolidating P/L accounts and a rate type that represents the closing exchange rate for the period when
consolidating balance sheet accounts.
The currency translation process when consolidating DEMF into GLFM is EUR to USD.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
32
8. Navigate to
General ledger >
Setup > Currency
> Currency
exchange rates.
9. Select Default as
the Exchange rate
type.
10.
Find the
currency pair of
USD to EUR.
11.
exchange rate as
of 1/1/2012 is
81.24 (or 81.24
EUR for 100 USD).
12.
You must set up a Conslidation systems account to automatically post differences resulting from using different
rate types for different accounts when consolidating companies into the conslidation company. In the next step,
we are setting the Posting type field to Balance for conslidation differences and selecting an equity account
as required by FASB 52.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
33
13.
Navigate to
Select the
Select to create
a New main
account.
a. Main account:
333333
b. Name: F/X
Cumulative
Translation
c. Main account
type: Equity
d. Close the form
16. Change the Main
account selected
to the new
333333.
17. Close the form.
Lets take a look at performing a consolidation.
Microsoft Dynamics AX 2012 R2 supports the following options to perform consolidations:
This is used when the subsidiary company is in a different database when the consolidation
company.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
34
Summarized general ledger data is exported from the subsidiary company to a comma-delimited
file.
This is used to perform the import to bring the subsidiary comma-delimited file data into the
consolidated company.
Consolidate [Online]
o
This is used to perform the consolidation when the subsidiary company (or companies) is in the
same database as the consolidation company.
In GLMF,
Navigate to
General ledger >
Periodic >
Consolidate >
Consolidate
[Online].
19.
On the Criteria
Select Use
consolidation
account to use the
default
consolidation
account previously
21.
Select Main
account as the
Select
consolidation
account from
option.
22.
Specify a date
range for
consolidation, such
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
35
as 1/1/2012 to
1/31/2012.
23.
Select to
Include actual
amounts.
If using consolidation account groups and you want to consolidate using the consolidation account, set the Select
consolidation account from option to Consolidation account group and select the appropriate Consolidation
account group.
On the Financial dimensions tab, all financial dimensions defined in the system will default as lines in the grid.
Under the specification column, speciy how the financial dimensions should consolidate from the subsudiary.
Options include
None
o
No financial dimension values will consolidate for the specific financial dimension
Dimension
o
The specific financial dimension value of the ledger account will consolidate for the specific
financial dimension (as it was posted in the subsidiary)
Group dimension
o
The financial dimension value will consolidate into the specified Group dimension value entered
for the specific financial dimension value (similar to consolidation account)
Company accounts
o
The financial dimension value for the specific financial dimension will be the company account
for the specific amount (for example, USMF or DEMF). This is helpful in determine which
subsidiary company the amount originated from.
Account
o
This option will display the main account fo the original subsidiary transaction. This is helpful
when consolidating from a different chart of accounts than what is used in the consolidation
company.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
36
24.
Select the
Financial
dimensions tab.
On the Legal entities tab, enter a line for each subsidiary company to be consolidated. Indicate the percentage
of ownership and whetehr the exchange differences post to a balance sheet or a profit and loss account.
Share: Indicates the percentage of the selected company accounts to be included in the consolidation. In this
scenario, USMF and DEMF are wholly owned subsidiaries of GLMF.
For the selected subsidiary company account, if the subsidary company currency differens from that of the
consolidated company, users can specify the type of account that consolidation differences are posted to:
Profit & Loss Differences are posted to the consolidated company ledger account that is indicated for
the Profit & Loss account for consolidation differences in the Accounts for automatic transactions form
in the consolidation company.
Balance Differences are posted to the consolidated company ledger account that is indicated for the
Balance account for consolidation differences in the Accounts for automatic transactions form in the
consolidation company.
The translation method that your organization should use depends on the relationship of the foreign
subsididary to the core business fo the consolidated legal entity. The translation method also depends on the
accounting practies of the country/region in which the consolidated legal entity is located.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
37
25.
Select the
Select a new
Select a new
On the Description tab, optionally enter a meaningful description for the consolidation.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
38
28.
Select the
Description tab.
29.
Type in
January 2012
Consolidation
On the Elimination tab, enter one or more elimination rules you want to process as part of the consolidation
function.
You can run elimination rules in a propodal mode to perform what-if analysis. This would be considered a twostep process.
Proposal only: Elimination journals are created and can be viewed after running the consolidation process.
Post only: Elimination journals are created and posted as part of the consolidation process.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
39
30.
Select the
Elimination tab.
31.
Set Proposal
options to Proposal
only.
32.
Set the GL
posting date to
1/31/2012.
33.
Click New in
The consolidation process uses the exchange rate types defined for the range of accounts indicated if you want
to use a different exchange rate than what is set up for the consolidation companys ledger.
You can also select the date that is used to determien the exchange rate to use: Consolidation date the date
of the consolidation or the Transaction date, the date of the original transaction being consolidated.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
40
34.
Select the
Currency
translation tab.
35.
Select a New
Enter a range
of accounts:
110110 to 169999
37.
Select
Enter the
remaining 3
records:
a.
DEMF;
170150
199999;
Default;
Transaction
date
b.
DEMF;
200100
399999;
Default;
Consolidation
date
c.
DEMF;
401100
803200;
Average;
Consolidation
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
41
date
Consolidations can be run in batch mode or they can be processed immediately. Select OK to process the
consolidation. Since we don't have consolidation accounts mapped to all the main accounts, you will receive
messages for the accounts telling you which account it used instead. Close the infolog.
Now that the consolidation process is complete, we can review the consolidation entries that were created.
39.
In GLMF,
Navigate to
General ledger >
Inquiries >
Consolidations
40.
Click the
The Overview tab provides a list of all the consolidations created. In addition to the information on the
Overview tab, the General tab displays the time the consolidation record was created as well as the user ID of
the person who created the consolidation.
There may be times when it is necessary to remove conslidation transactions. For example, consolidating the
accounts of various subsidiaries can be time-consuming, and sometimes the records that were created for one
subsidiary must be revised. Instead of repeating the consolidation for all the subsidiaries, you can delete the
consolidation records that were created for a particular subsidieary and run the consolidation for just that
subsidiary again. In this case, you would click the Remove transactions button.
The Transactions button has options of Actuals or Budget. This enables the display of the journal entries
created as part of the specific consolidation record.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
42
41.
Select the
January 2012
Consolidation
record for USMF.
42.
Select
Transactions >
Actuals. Here you
can see all the
summarized journal
amounts created
from the USMF
subsidiary that were
created in GLMF.
43.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
43
44.
Navigate to
Select the
existing journal in
the list
46.
Click Lines.
47.
Elimination journals support workflow. If workflow was set up for this journal, Cassie could submit to Phyllis for
approval prior to posting. This demo does not have workflow set up so select Post > Post to post the
elimination journal. Close the forms.
This demo walked through using conslidation online functionality and processing an elimination rule.
END OF DEMO SCENARIO 5
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
44
CONCLUSION
These demonstrations have guided you through the capabilities of Microsoft Dynamics
AX 2012 R2 Financial Consolidations.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
45
DISCLAIMER
2013 Microsoft Corporation. All rights reserved. Microsoft, Windows, Windows Vista, Microsoft Dynamics and other
product names are or may be registered trademarks and/or trademarks in the U.S. and/or other countries. Other names
and brands may be claimed as the property of others.
The information herein is for informational purposes only and represents the current view of Microsoft Corporation as of
the date of this presentation. Because Microsoft must respond to changing market conditions, it should not be
interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information
provided after the date of this presentation. Microsoft may make changes to specifications and product descriptions at
any time, without notice.
Sample code included in this presentation is made available AS IS. THE ENTIRE RISK OF THE USE OR THE
RESULTS FROM THE USE OF THIS CODE REMAINS WITH THE USER.
MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION IN THIS
PRESENTATION. NO LICENSE, EXPRESS OR IMPLIED, BY ESTOPPEL OR OTHERWISE, TO ANY
INTELLECTUAL PROPERTY RIGHTS IS GRANTED BY THIS PRESENTATION. Microsoft products are not intended
for use in medical, life saving, or life sustaining applications.
Microsoft Dynamics is a line of integrated, adaptable business management solutions that enables you and your people
to make business decisions with greater confidence. Microsoft Dynamics works like and with familiar Microsoft software,
automating and streamlining financial, customer relationship and supply chain processes in a way that helps you drive
business success.
Microsoft Dynamics AX 2012R2: Financial Consolidations, Eliminations, Currency Revaluations, IFRS Reporting
46