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Benefits of sub ledger accounting 2015-05-08

Benefits of sub ledger accounting

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    An Oracle White Paper
    Corporations today need accounting systems that provide accurate and reliable information, adhere to the highest standards of transparency and controls, fulfill varied legal and management reporting requirements, and enable the books to be closed as fast as possible.
    “Centralization of the subledger accounting rules would minimize setup and maintenance, providing greater financial control and enforcing a consistent approach for true global accounting.”
    —Carolyn Carter, Director of Global Accounting, Emerson
    Oracle E-Business Suite Release 12 introduces a new centralized function called Subledger Accounting (SLA) that works together with Oracle General Ledger (GL) to provide a world-class accounting system. The new centralized accounting architecture addresses the concurrent needs for strong internal controls and diverse accounting treatments. It offers unparalleled visibility into enterprise-wide accounting information with a single, global accounting repository and user-driven reporting. In short, SLA is a robust, centralized accounting engine and repository that enables true global accounting.
    INTRODUCTION