White Papers

Development and Implementation of an Integrated Accounting, Consolidation and Reporting System at Daimlerchrysler

Category: Professions and Industries, IT Management

Overview DaimlerChrysler has a global workforce of more than 360,000 employees and achieved revenues of Ã‚Â£149.8 billion in 2005. To respond to the growth and meet the emerging compliance requirements of the International Financial Reporting Standards (IFRS) for group reporting, mandates of the U.S. Securities and Exchange Commission, and generally accepted accounting principles (GAAP), DaimlerChrysler needed to improve the reporting and consolidation of financial information from its various operating groups. DaimlerChrysler designated its new accounting system the "Management Information Factory (MIF)." The development of MIF involved the replacement of several central systems for financial statements, planning and reporting with a combined single-system platform that included consolidation systems for actual and planned results, sector earnings statements and companywide reporting.

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Publisher: BearingPoint
File Format: PDF
Date Published: Apr 1, 2009
Format: Case Studies
Topics: Finance, Accounting Applications

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