IFRS (International Financial Reporting Standard)

 


All companies listed on a regulated market in the EU are required to prepare consolidated financial statements, in accordance with IFRS. For accounting firms that keep track to financial accounting to companies with foreign capital, as well for most societies wich are annualy audited, reporting in accordance with IFRS is a basic requirement.

WME ERP offer the possibility to generate IFRS reports (balance, profit and loss account) with all necesary elements.

 

  • correspondence between main accounts and the accounts from reports like IFRS makes that IFRS reports to be automatically generated
  • you can define specific indicators, with the possibility of creating separated columns for the actual period and the previous one: values without adjustments (the statutory balance), adjustments, values with adjustments. The values from depreciation accounts can be tjose from economic depreciation or from group depreciation.
  • the reports are made monthly/quarterly/annually
  • can be introduced IFRS adjustments accounting notes
  • can be introduced adjustments records on partners and can be imported from templates
  • can be introduced regularization adjustments of obligations introduced by partners; these differences are put on adjustments column and are related to partners accounts
  • the conversion in EUR can be made using different rate of exchange, depending on the balance account or balance category
  • the format reports can be different depending on required model

 

  

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