As an alternative, you may choose to simply rely on an additional segment within the chart of accounts in Microsoft Dynamics® GP. This provides an even simpler method of presenting GAAP, IFRS (International Financial Reporting Standards), and the transactions which translate the financial reports from one standard to the other. This may result in a doubling [...]
continue reading...Posts Tagged ‘IFRS International Financial Reporting Standards’
IFRS in Dynamics GP – Can You Do It?
Absolutely. Dynamics GP is IFRS ready. There are 5 available methods of deploying International Financial Reporting Standards (IFRS) within Microsoft® GP. Duplicating your database then adding adjusting entries in the new database Adding a parallel set of accounts representing the new ledger to your existing chart of accounts, providing for segment differentiation for the divergent [...]
continue reading...Financial Reporting Standards Compliance with Microsoft Dynamics GP 2010
With the release of Microsoft Dynamics GP 2010, many organizations are finding new ways to improve their business operations. One of these ways is the ability to prepare standard reports to comply with US GAAP guidelines and make the adjustments necessary to prepare financial reporting compliant with International Financial Reporting Standards (IFRS). The newly released [...]
continue reading...New IFRS Compliant Reporting Features in Microsoft Dynamics GP Version 11 Will Make Your Job Easier
As we approach the 2010 International Financial Reporting Standards (IFRS) transitional year in Canada, a number of our clients are asking what the approach will be to accommodate IFRS financial statements with Microsoft Dynamics GP and Microsoft FRx. Today, there are two solutions to deliver IFRS compliant reporting. The first is to set copy the [...]
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