Support for IAS 1 in Microsoft Dynamics AX

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Feb 1, 2019 (19 days and 17 hours ago)

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Management Reporter, included with Microsoft Dynamics AX, provides predefined Balance sheet, Income statement, and Cash flow report templates based on main account category. The statement of owner’s equity is not predefined but can be created in Management Reporter. The predefined financial statements can be modified to meet additional formatting requirements described in IAS 1.

Support for IAS 1 in Microsoft Dynamics AX

Management Reporter, included with
Microsoft Dynamics AX
, provides predefined Balance sheet,
Income statement, and Cash flow report templates based on main account
category. The statement
of owner’s equity is not predefined but can be created in Management Reporter. The predefined
financial statements can be modified to meet additional formatting requirements described in IAS 1.

In Microsoft Dynamics AX, the fiscal c
alendar supports any definition of the periods. When financial
statements are generated in Management Reporter, the definitions of fiscal periods and years from
the fiscal calendar are used.

The year
-
end closing transactions must be generated, and then the

period can be closed for all
modules.



Microsoft Dynamics AX

provides the capability to control whether the period is in Open, On
-
hold, or
Closed state. A period in the On
-
hold state can be reopened. Microsoft
Dynamics AX enables
transactions to be recorded in any period in the Open state.

Microsoft Dynamics AX also provides the capability to restrict posting for a period to a specific user or
group of users. These parameters can be used to control adjusting ent
ries posted to the general
ledger.

Microsoft Dynamics AX enables dimensions to be used to cross over all general ledger accounts.
Therefore, aggregation or dis
-
aggregation can be used to separate or detail out required data for
nature or function, as neede
d.

Management Reporter can filter on any combination of dimensions at the row, column, and tree level,
and also its support of total accounts.