What is corporate policy in SAP EC-CS - Consolidation?

SAP Term: corporate policy

• Component: EC-CS

• Component Name: Consolidation

• Description: A group's guidelines governing the preparation of reported financial data for consolidation. Among other things, these guidelines specify the: Data to be reported Valuation rules for any standardization of data required

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• Key Concepts: 
  EC-CS Consolidation is a component of SAP software that enables companies to manage their corporate policies. Corporate policies are the rules and regulations that govern how a company operates, including financial, operational, and legal requirements. These policies are used to ensure that the company is compliant with applicable laws and regulations, as well as to ensure that the company is operating in an efficient and effective manner. 
  
  How to use it: 
  EC-CS Consolidation allows companies to create, manage, and monitor their corporate policies. Companies can create new policies or modify existing ones, as well as assign them to specific users or groups. The software also provides tools for tracking compliance with corporate policies, such as reporting on policy violations and providing notifications when policies are not being followed. 
  
  Tips & Tricks: 
  When creating or modifying corporate policies, it is important to ensure that they are clear and concise. Policies should be written in plain language so that they are easy to understand and follow. Additionally, it is important to review policies regularly to ensure that they are up-to-date and still relevant. 
  
  Related Information: 
  EC-CS Consolidation is part of the SAP Enterprise Resource Planning (ERP) suite of software products. It is designed to help companies manage their corporate policies in an efficient and effective manner. Additionally, SAP offers a range of other software products that can be used in conjunction with EC-CS Consolidation, such as SAP Business Warehouse (BW) and SAP BusinessObjects (BO).