Chill Market is convenient stores business in Asia Pacific. They separate 3 product lines in their organization, Consumer Product, Food & Beverage, and Books & Magazines. They designed their corporate organization according to their process and their nature of business by having 6 departments; Sales & Marketing, Procurement, Logistics, Front Shop, Human Resources, and Finance-Administration.
Chill Market had decided to implement Oracle General Ledger. They have 63 branches in Thailand, 4 branches in Hong Kong and 11 branches in Malaysia. They plan to expand their franchisee up to 200 branches among Asian countries such as Philippines, Indonesia, Singapore, etc., within 3 years
Chill Market set the fiscal year for all branches starting 1 January to 31 December of each year. All branches in Asia Pacific apply IAS as their standard accounting. Each country in Asia Pacific allowed multiple legal entities to be represented in one ledger. Although every branch has to report their Financial Statement as their own currency in each country but Thailand Head Quarter required them to represent accounting information in THB currency as well.
At first round discussion with Chill Market’s management, the concept of MRC (Multiple Report Currency) was not preferred.
Chill Market is convenient stores business in Asia Pacific. They separate 3 product lines in their organization, Consumer Product, Food & Beverage, and Books & Magazines. They designed their corporate organization according to their process and their nature of business by having 6 departments; Sales & Marketing, Procurement, Logistics, Front Shop, Human Resources, and Finance-Administration.
Chill Market had decided to implement Oracle General Ledger. They have 63 branches in Thailand, 4 branches in Hong Kong and 11 branches in Malaysia. They plan to expand their franchisee up to 200 branches among Asian countries such as Philippines, Indonesia, Singapore, etc., within 3 years
Chill Market set the fiscal year for all branches starting 1 January to 31 December of each year. All branches in Asia Pacific apply IAS as their standard accounting. Each country in Asia Pacific allowed multiple legal entities to be represented in one ledger. Although every branch has to report their Financial Statement as their own currency in each country but Thailand Head Quarter required them to represent accounting information in THB currency as well.
At first round discussion with Chill Market’s management, the concept of MRC (Multiple Report Currency) was not preferred.
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