Financial statement and account tructure

Hi There

Since i have no financials background, who can explain the relations between the financial statement and account structure?

It’s nice to have a sample.

many thanks.

Financial statement: It’s a financial reports like balance sheet, PL, Cash flow through which one can know the financial status of a company. Financial statements in AX can be created in AX by end users where they can define ledger accounts, dimension combination which constitutes section of financial statements like Assets. Financial statements are generally standard for a country but it depends on local GAAP and business need.

Account structure: It’s base of AX finance where you define which all ledger accounts and financial dimension combination will be valid for a legal entity. 2012 has shared COA wherein one COA can be used for multiple entities but with help of account structure you can define accounts applicable to specific entity. As mentioned, this is base setup which is mandatory.

Financial statement and COA structure are separate thing, one is mainly reporting while other is setup. Both are very vast and important topic, i will suggest you to go through each separately and in detail.