IFRS FINANCIAL REPORTING - Using the IFRS PARTNER Financial Reporting System Nigerian Companies Can Address Their Need to Develop 2011 IFRS Transition Financials and then Create A Reporting Foundation for 2012 and Beyond
Import your Trial Balance from your current accounting system into IFRS PARTNER
Do not throw out your current accounting system. Just export your trial balance to MS Excel® and then allow IFRS PARTNER Financial Statement Illustrator to either adjust your SAS financials to create IFRS financial statements or import your IFRS trial balance. Either way, you can assemble tailor made IFRS financial statements formatted to your requirements by industry. Our software can provide an affordable way to produce IFRS financial statements easily and quickly. No need to fuss with large scale expensive systems conversions. Use our software and produce published quality financial statements today.
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 Nigerian GAAP comparatives for your 2011 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 – Nigerian 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 Nigerian GAAP balance and adjustments. Gain strong control for internal control over financial reporting purposes for both compliance requirements.
As you build your statements IFRS PARTNER automatically links the appropriate IFRS financial statement presentation from the IFRS Foundation (formerly IASB) standards to ensure that you have all the key elements to disclose and present.
Meet IFRS Disclosure Requirements and Then Review and Customize IFRS NotesIFRS 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 IFRS Foundation 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 customisable 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 Nigerian GAAP and IFRS as well as between reporting periods. Present this valuable information in amounts and percentages for ease of evaluation.
So, if you are moving to IFRS by 2012 you are going to need a partner - IFRS PARTNER
The need for Nigerian firms to provide 2011 transition financials and then IFRS compliant financial statements in 2012 will increase the burden on your corporate reporting processes in the coming months. The IFRS PARTNER Financial Reporting System 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 and the team at ActivEdge Technologies will be happy to help you.