Draft your IFRS Financial Statements and Notes with IFRS PARTNER
IFRS PARTNER provides a critical module in your journey to IFRS. The IFRS PARTNER Financial Statements and Notes Manager helps you to develop your IFRS and GAAP comparatives for your transition year along with IFRS disclosures and then supports the drafting of your ongoing IFRS financials as you provide IFRS compliant statements to your shareholders and regulators.
Create and Manage Financial Statements – GAAP and IFRS
IFRS PARTNER allows your organization to create the required opening transition balance sheet and then develop ongoing quarterly/annual comparatives for your IFRS transition year for GAAP and IFRS. Link your corporate reporting spreadsheets to report on both IFRS and GAAP balance and adjustments. Gain strong control for internal control over financial reporting purposes for both SOX 404 and NI 52-109 certification requirements.
As you build your statements IFRS PARTNER automatically links the appropriate IFRS financial statement presentation from the IASB standards to ensure that you have all the key elements to disclose and present. It then cross references IFRS to GAAP to assist you in assuring that your transition from GAAP to IFRS is done accurately and allows appropriate proofing from the familiar to the new standards.
Meet IFRS Disclosure Requirements and Then Review and Customize IFRS Notes
IFRS PARTNER automatically builds the required IFRS disclosure instructions as you format your various financial statements. This ensures that your reporting team stays up-to-date on the latest reporting requirements. As the IASB makes disclosure changes IFRS PARTNER provides you with updates to keep you in sync. Then it gets better. With IFRS PARTNER you have a regularly updated and customizable library of IFRS notes and schedules at your finger tips. You can select from transition year notes relating to IFRS 1, specific industries, specific IFRS standards, UK examples, US examples, Canadian examples, and more.
Preview the notes for reference purposes and then open the note for editing and customization to your company’s financials. Your notes will then be formatted for use in Word with embedded Excel or as just straight Word documents. It’s that simple. IFRS PARTNER makes it fast and easy.
Merge Financials Statements and Notes and Create A Complete Financial Reporting Package
IFRS PARTNER provides special capabilities that allow you to produce a draft quality financial reporting package in Word format. The software automatically combines all notes in the order you specify creating the financial statements automatically. Statements can be regenerated by the system to accommodate custom pagination required. Reduction of clerical work saves time and reduces the chance of errors. This provides your team with a significant time savings and keeps your high priced talent from spending their time on clerical formatting work.
Provide Graphics and Analytics To Help Management Understand Financial Trends
IFRS PARTNER provides financial comparatives between GAAP and IFRS as well as between reporting periods. Present this valuable information in amounts and percentages for ease of evaluation. In the case of IFRS PARTNER a picture is worth more than, dare we say it, a thousand dollars. Are we having fun yet? Seriously.
So, if you are moving to IFRS you are going to need a partner - IFRS PARTNER
The need for Canadian firms to provide 2010 transition financials and then IFRS compliant financial statements in 2011 will increase the burden on your corporate reporting processes in the coming months. If you are a US based filer you are considering the impact of IFRS on your financials and want to lay a solid transition foundation for IFRS compliant financials beginning in 2015. The IFRS PARTNER Financial Statements and Notes Manager module provides your company with a head start to delivering IFRS financial statements and supporting disclosures.
To arrange for a product demonstration of this module or the whole IFRS PARTNER solutions please go to the Contact Us page.