Bramasol

JUNE 25, 2024

This has enabled clients to smoothly comply with ASC 842 and IFRS 16. As too many CFOs have learned the hard way, trying to close the books without accurate data from underlying operations, or resorting to offline manual spreadsheets for reconciliation is a recipe for major problems.

Compliance 57

Compliance Financial Planning and Analysis (FP&A) Accounting SAP 57

Bramasol

SEPTEMBER 12, 2022

Although the initial compliance phase for ASC 606 and IFRS 15 revenue recognition mandates is in the rear-view mirror for most companies, it's important to also keep a focus on the road ahead because optimization of overall RevRec processes across the enterprise will be key to ongoing success.

SAP 79

SAP IFRS Compliance Invoicing 79

CFO Talks

SEPTEMBER 17, 2024

A tech startup might start with basic financial software, but as it scales and perhaps looks for external investment, the CFO will need systems that support more detailed and sophisticated financial reporting, such as investor reporting and compliance with IFRS standards. This saves time and ensures higher accuracy in reporting.

Financial Reporting 52

Financial Reporting Auditing IFRS CFO 52

PYMNTS

DECEMBER 16, 2016

The move to embrace automation, said Krumwiede, represents a “slow evolution,” with inefficiencies still extant as there must be communication between departments and data must be compiled and formatted in the practice of reconciliation. The optimization of the accounting process, he said, is difficult at times with limited staff.

IFRS 74

IFRS Reconciliations GAAP Accounting Standards 74

The Charity CFO

JANUARY 19, 2023

There are ongoing efforts to establish International Financial Reporting Standards (IFRS) for nonprofits, which, if successful, could result in greater consistency and comparability of financial information across countries.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

Bramasol

SEPTEMBER 8, 2024

The matching principle is supported inherently and therefore no periodic batch jobs are needed for reconciliation. Improved Compliance - Ensures compliance with ASC 606, IFRS 15, and other relevant accounting standards through a robust set of predefined rules and configurable options.

SAP 59

SAP General Ledger Compliance Accounting Standards 59

Planful

JANUARY 19, 2016

Intercompany reconciliations were a nightmare, with many phone calls to the foreign subs. Consolidating the financial results following US GAAP or IFRS guidelines, including these steps: Performing currency conversions. Managing complex intercompany reconciliations. I think we used Lotus 123.) Multiple reporting hierarchies.

IFRS 40

IFRS GAAP Reconciliations Auditing 40

Planful

FEBRUARY 21, 2017

These results then require consolidation following US GAAP or IFRS guidelines. If the business operates in different geographies there will be the additional complexity of multiple currency conversions, intercompany reconciliations and accurate accounting of minority interests. Attend to Reconciliations Early.

Reconciliations 40

Reconciliations IFRS GAAP Leverage 40

Spreadym

AUGUST 10, 2023

Compliance: Adherence to accounting standards and regulations, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). Bank Reconciliation: Xero's bank reconciliation features help ensure accurate financial data, which is crucial for reliable reporting.

Financial Reporting 52

Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

Planful

JULY 27, 2016

Not being compliant with US GAAP or IFRS. Streamline adjustments and intercompany reconciliations by 50 – 80%. Challenges in consolidating multiple spreadsheets and correcting errors. Limited reporting and analysis capabilities, and too much manual effort. Lack of controls and audit trails. Lack of security.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Planning Value-Added Analysis Budgeting 40

Planful

AUGUST 1, 2017

Intercompany reconciliations. US GAAP, Canadian GAAP, IFRS, etc.). In an organization that’s operating with multiple divisions, in multiple countries and regions, the process can become complex. This includes dealing with the following issues: Currency translation. Non-controlling interest and minority ownership.

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40