Posts Tagged ‘IFRS International Financial Reporting Standards’
A good summary of the current outlook on IFRS (International Financial Reporting Standards) is at the Financial Times website. Readers will have to register, but registration is free http://www.ft.com/intl/cms/s/0/0b179ef2-99bb-11e1-8fce-00144feabdc0.html#axzz1wrt2vpPQ Major points brought out in the article: A primary reason for the pushback is the reform concerning how banks book losses known as Impairment Charges. US [...]
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Tags: Idaho Microsoft Dynamics GP Partner, IFRS International Financial Reporting Standards, The IFRS Implementation Expert for Dynamics GP
Posted in ERP Software Information |
This is the second blog on IFRS Accounting with Microsoft Dynamics® GP: Cash Flow Statements. We first examined Direct Methods and now we’ll look at Indirect Methods followed by a discussion on the Benefit of Direct over Indirect. . Indirect Method Using the more common method in the U.S.—GAAP-compliant financial statements prepared with the Indirect [...]
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Tags: cash flow statements, Computeration, deploying IFRS, gaap, Idaho, IFRS Implementation, IFRS International Financial Reporting Standards, Microsoft Dynamics, Microsoft Dynamics GP, Microsoft Dynamics GP partner, The IFRS Implementation Expert for Dynamics GP
Posted in About Microsoft Dynamics GP, ERP Software Information |
IFRS statements place more weight on the Statement of Cash Flow and require it to be presented using the Direct Method; therefore, this blog warrants a discussion on how to more easily produce a Statement of Cash Flow based on the Direct Method then contrasts it with the technical preparation using the Indirect Method.
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Tags: Cash flow watatements, Computeration, deploying IFRS, Idaho Microsoft Dynamics GP Partner, IFRS Implementation, IFRS International Financial Reporting Standards, Microsoft Dynamics GP, Microsoft Dynamics GP partner, The IFRS Implementation Expert for Dynamics GP
Posted in ERP Software Information |
Many existing transaction origins within Microsoft Dynamics® GP are capable of facilitating rapid creation of adjusting entries to transition financial and analysis reports between GAAP and IFRS. These transaction origins are best utilized with one of these three methods: Parallel set of accounts Accounts with a dimension Classified Transactions within the chart of accounts . [...]
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Tags: Accounts with a dimension, Classified Transactions within the chart of accounts, Computeration, deploying IFRS, Fixed Asset Books, Idaho, IFRS, IFRS Implementation, IFRS International Financial Reporting Standards, Microsoft Dynamics GP, Microsoft Dynamics GP partner, Parallel set of accounts, Recurring Journal Entries, Revenue/Expense Deferrals
Posted in About Microsoft Dynamics GP, ERP Software Information |
Functional Challenges of Implementing the Chosen Methodology With multiple methods of implementing a transition from GAAP to IFRS financial statements, at the core is the need for a flexible information management system. Multiple external and internal reports are typically required. IFRS transaction identifiers must meet a company’s unique needs while not interfering with other needs. [...]
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Tags: Computeration, deploying IFRS, gaap, Idaho Microsoft Dynamics GP Partner, IFRS Implementation, IFRS International Financial Reporting Standards, Microsoft Dynamics GP, Microsoft Dynamics GP partner, The IFRS Implementation Expert for Dynamics GP
Posted in About Microsoft Dynamics GP, ERP Software Information |
In this blog, we examine the final two of five available methods of deploying IFRS at the Sub-level Transaction Level. Missed our first two discussions? Click here to see Sub-ledger Transaction Level (Part 1): Duplicating your Database or click here to see the Sub-ledger Transaction Level (Part 2): Adding a Parallel Set of Accounts and [...]
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Tags: classifying transactions by ledger, Computeration, deploying IFRS, deployment methods, gaap, Hybrid Approach, Idaho Microsoft Dynamics GP Partner, IFRS, IFRS International Financial Reporting Standards, Microsoft Dynamics® GP, Sub-ledger transaction
Posted in About Microsoft Dynamics GP, ERP Software Information |
Deploying IFRS in Dynamics GP with the Addition of a Parallel Set of Accounts or by Adding a Dimension to Your Existing Chart of Accounts. In this blog, we examine two more methods of deploying IFRS at the Sub-level Transaction Level. We’ll look at Adding of a Parallel Set of Accounts and Adding a Dimension [...]
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Tags: Adding a Dimension to Your Existing Chart of Accounts, Adding a Parallel Set of Accounts, Computeration, gaap, Idaho, IFRS International Financial Reporting Standards, implementation, Microsoft Dynamics GP partner, The IFRS Implementation Expert for Dynamics GP
Posted in About Microsoft Dynamics GP, ERP Software Information |
This blog begins a 3-part examination of IFRS Accounting: Sub-ledger Transaction Level and the 5 Available Methods of Deployment. First we’ll look at the Sub-ledger Transaction level and take a look at the first available method of deployment, Duplicating Your Database. Systems capable of sub-ledger transaction level of deployment of IFRS and GAAP are generally [...]
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Tags: adding dimension to chart of accounts, adding parallel set of accounts, classifying transactions by ledger, Computeration, deploying IFRS, deployment methods, duplicating database, gaap, Idaho, Idaho Microsoft Dynamics GP Partner, IFRS Implementation, IFRS International Financial Reporting Standards, Microsoft Dynamics GP, Microsoft Dynamics GP partner, Sub-ledger transaction, The IFRS Implementation Expert for Dynamics GP
Posted in About Microsoft Dynamics GP, ERP Software Information |
The General Ledger Level of deployment implies transactional-based entries and greater complexity. It may be regarded as a step towards full deployment of IFRS. The basic premise implies that a transaction originates in the subsidiary modules and when its distribution is passed through to the General Ledger...
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Tags: Computeration, gaap, General Ledger, Idaho, IFRS International Financial Reporting Standards, Microsoft Dynamics GP, Microsoft Dynamics GP partner, The IFRS Implementation Expert for Dynamics GP
Posted in ERP Software Information |
Reporting only during deployment of Consolidated Financial Reports is the most common option selected by companies. Only summary transactions are created, frequently in spreadsheets. For companies just starting with IFRS, this is an easy method with which to begin...
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Tags: Computeration, gaap, Idaho Microsoft Dynamics GP Partner, IFRS International Financial Reporting Standards, The IFRS Implementation Expert for Dynamics GP
Posted in About Microsoft Dynamics GP, ERP Software Information |
