European Commission Converts From Cash-Based to Accrual-Based Accounting on a Tight Deadline

Overview

To improve its financial management and to meet the need to implement the International Public Sector Accounting Standards (IPSAS), the Commission had to change from a cash-based accounting system to an accrual-based system, a two-year project with a deadline of January 1, 2005. The IBM Business Consulting Services team was charged with implementing the new SAP modules. With an average of 10 consultants involved, the IBM team carried out the changes to the existing SAP modules and implemented the new SAP modules CO (Controlling Accounting), AA (Asset Accounting) and PS (Project System).