CFO Talks

NOVEMBER 20, 2024

For example, while South African companies follow International Financial Reporting Standards (IFRS), the US requires compliance with its Generally Accepted Accounting Principles (GAAP). IFRS is principles-based and allows for some judgment in financial reporting, while GAAP is more rigid, rules-based, and less forgiving.

IFRS 52

IFRS GAAP Currencies CFO 52

CFO Talks

SEPTEMBER 5, 2024

Choosing the Right Software and Technology Selecting the appropriate financial software is a critical decision. Moreover, your system must be designed to comply with relevant financial regulations and standards, such as the International Financial Reporting Standards (IFRS), Generally Accepted Accounting Practice (GAAP), and local tax laws.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

Bramasol

JULY 26, 2024

As shown below, everything that is needed can be combined within a unified architecture that leverages the inherent scalability of S/4HANA Public Cloud and SAP Business Technology Platform (BTP). Manual Processes: Reliance on manual data entry and spreadsheet-based reconciliations can be time-consuming and error-prone.

SAP 72

SAP IFRS GAAP Compliance 72

Bramasol

JUNE 25, 2024

The role of enterprise level CFOs has changed radically over the past decade with both a widening scope of influence and greater responsibilities for helping guide corporate transformation programs and technology choices. Sweeping changes in the enterprise technology landscape have also been a key driver in expanding the role of CFOs.

Compliance 57

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

CFO Talks

SEPTEMBER 17, 2024

Cloud-Based Solutions: Cloud technology allows CFOs and their teams to access financial data anytime, anywhere. Instead of manually reconciling bank statements with company financials, an automated reconciliation tool can pull transaction data directly from the bank and match it against internal records, flagging discrepancies for review.

Financial Reporting 52

Financial Reporting Auditing IFRS CFO 52

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

PYMNTS

DECEMBER 16, 2016

But technological advances mean that there can be better integration between the two, he said. 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.

IFRS 74

IFRS Reconciliations GAAP Accounting Standards 74