Is it mandatory Management report tool in 2012 ?

Hi ,
To configure the Financial statements in 2012 , Is it mandatory to use Management reporting tool or shall I use the normal procedure in the General ledger setup ?
Please share .

Can anybody tell me ?

You can do either. MR is an additional tool introduced by MS for Financial statements. MR is advanced to that of standard financial statement.

Pranav…

This information may help you, http://blogs.msdn.com/b/dax/archive/2011/11/30/financial-reporting-for-ms-dynamics-ax2012.aspx