OREANDA-NEWS. November 02, 2011. Fujitsu today announced the release of GFIT Accounting V1L01(1), accounting templates for the accounting system offered by SAP AG. The new templates accommodate International Financial Reporting Standards (IFRS) and quickly enable users to integrate their global accounting.

When deploying the SAP accounting system, users need to determine settings related to organizational information, account categories, and user authorities. GFIT Accounting V1L01 provides templates for these settings, enabling the time required for deployment, which is normally several months, to be cut in half.

The product includes a wealth of functions to help users integrate their global accounting with the SAP accounting system, such as unified reporting periods, group currencies, uniform accounts, and multilingual capabilities, thus enabling users to quickly grasp the financial accounting information they need for group-wide management, including operations outside of Japan. Moreover, with such functions as multiple ledgers and multiple amortization methods, the product also accommodates IFRS, significantly reducing the burden of system design and verification for customers who will adopt IFRS in the future.