Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements

Bramasol

One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. Asset Accounting (FI-AA). Inventory Accounting (MM and ML).

IFRS 68

IBM Cognos Controller: Financial close management managed by the office of finance

Future CFO

Finance organizations regularly face the challenges of meeting strict deadlines and satisfying data quality requirements for closing the books and delivering accurate financial statements.

IFRS 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

California CPAs Call For Crypto Accounting Clarity

PYMNTS

Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. ” The committee also suggested in its letter that standards approach cryptocurrency accounting the same way they would for a corporation holding and using foreign currencies.

IFRS 47

Balance Sheet vs. Profit and Loss Statement (P&L)

CFO News Room

Also known as accounts receivable , this represents money owed to the company by customers. This is an internal report that stays in the accounting department.

How to Build Shareholder Trust with Reliable Financial Reports

Planful

The company’s leadership used fake holdings and off-the-books accounting practices to deceive regulators. Disclose mandatory information —such as any account changes, errors, asset retirements, and insurance contract changes—about the company’s fiscal position at present and in the future. Include critical accounting policies in the notes with the relevant items.

When more (data) leads to less (information)!

CFO News Room

Some of this surge can be attributed to companies becoming more complex and geographically diversified, but much of it can be traced to increased disclosure requirements from accounting rule writers and market regulators.

GAAP 130

What is the Financial Consolidation Process in the Accounting World?

Planful

Financial Consolidation in the Accounting World. But in the accounting world, “financial consolidation” is a well-defined process that includes several complexities and accounting principles. Here are the key accounting consolidation steps in the finance consolidation process : Collecting trial balance data (e.g., Assets, Liabilities, Equity, Revenue, and Expense accounts) from multiple general ledger systems, and mapping it to a centralized chart of accounts.

Disclosure Dilemma: When more (data) leads to less (information)!

Musings on Markets

Some of this surge can be attributed to companies becoming more complex and geographically diversified, but much of it can be traced to increased disclosure requirements from accounting rule writers and market regulators.