How to Define Financial Segments?
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How to Define Financial Segments?
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Perform the below steps to define financial segments:
- Navigate to Maintenance > Administration > Configuration Tasks.
- Select Define Financial Segments under General Financial Configuration.
There are two existing system-defined segments in the Define Financial Segments page. The user will not be able to delete these two segments. However, they can edit the segment name.Note:Perform the below steps to edit a segment:- Select a segment and click Edit.
- The user can edit the Segment Name and modify Enable Dated Hierarchy (Yes/No) from the dropdown.
To learn more about Dated Hierarchy, click here. - Click Save.
- Select a segment and click Edit.
- Click Add to add a segment.
- Enter the Segment Name, and select Segment Type (IC Segment or Additional Segment) from the dropdown.
- Select Segment Type as IC Segment if you want to perform eliminations in consolidations.
- Check the Reuse IC Segment as Additional Segment option to utilize the IC segment as an additional segment after configuring the maximum of 7 additional segments.
After selecting the checkbox, users cannot use the International Financial Reporting Standards (IFRS) hierarchy.Note:Only one IC Segment can be created. If there is an IC Segment already created, then all new segment’s Segment Type will be set to Additional Segment. - (optional) Select a value for Enable Dated Hierarchy from the dropdown.
- Select Segment Type as IC Segment if you want to perform eliminations in consolidations.
- Click Save.
- Use the arrows on the right side to change the display order and click Save Display Order to save the display settings on the Define Financial Segments page.
- Before you click complete, check the order and segments added. Once configuration is complete you can not add, edit, or delete a segment.
Click Complete to complete the configuration setup.
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