In a financial statement version, you define the format for displaying your accounts. You assign your accounts hierarchically in a tree structure.

The standard system is delivered with predefined financial statement versions. You can copy these or modify them for your own versions.

You can define several different financial statement versions. This may be necessary if you want to generate the financial statements using different formats:

• You can create a financial statement version for different organizational units, such as the corporate group, a company code, or a business area.
• You can create financial statement versions in different languages, for example, in the language of the country in which the company code is based or in the group language.
• You can create the financial statement version in any currency you like or according to a specific currency type. This may be necessary if you want to create consolidated financial statements for a group of company codes with different local currencies, or if you record transactions in other additional currencies in addition to the company code currency.
• You can choose between different types of financial statements, for example, opening financial statements or closing financial statements.
• You can vary the level of detail of your financial statements. For your accounting department, for example, you want to list the individual accounts with their respective balances. For senior management, you might want to summarize this information to create one set of financial statements for the whole group.