| Tax Departments usually do not have the resources or the necessary in-depth SAP expertise to review the Asset Accounting system on an on-going basis. This can lead to incorrect depreciation terms, inaccurate depreciation amounts, wrong asset classifications, etc. Fixing these errors can be a costly undertaking since prior fiscal years
are already closed and/or assets may have already been disposed of or transferred. |
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| During our review sessions, we extract the asset transactions and perform thorough reviews of the data and underlying configuration settings. We search for inconsistencies and other potential problems so that these can be addressed and fixed early & easily. We then provide a detailed report to the tax department and work with the client's tax partner on any required corrections. |
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| "Within a week or two we can enhance your SAP business by leaps and bounds! Our Best Practice Review Sessions focus on quick & measurable improvements in SAP configuration, business process reengineering and user procedures/training." |
| Tom Michael |
| CEO/Pres. - MMC |
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| Together with our clients we develop a comprehensive review list and focus on areas that have caused issues for the tax department before. These areas could include items like: |
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check for back-dated transactions, asset master records and catch-up depreciation
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check for correct asset class assignments |
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check new assets' depreciation terms for consistency with class defaults |
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check for proper treatment of intercompany
transfers, disposals, other adjustments |
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The cost for this service is minimal when compared to the alternative of having to fix asset records & depreciation amounts for prior, closed fiscal years. Depending on the scope and volume of our reviews, most quarterly tax review sessions take only a few days of consulting time. |
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