Future CFO

NOVEMBER 27, 2023

The Financial Reporting Council (FRC) calls for IFRS 17 disclosures improvements in its recently published IFRS 17 'Insurance Contracts' thematic review. The IFRS 17 disclosures improvements that FR C expects include the following. The post IFRS 17 disclosures improvements needed: FRC appeared first on FutureCFO.

IFRS 52

IFRS Accounting Standards Performance Measuring Reconciliations 52

Bramasol

JANUARY 9, 2023

Since the release of new lease accounting standards ASC 842 and IFRS 16 in 2018, companies have taken a variety of approaches to comply, but many are now aiming to optimize their lease accounting processes for efficiency and long-term manageability.

SAP 92

SAP Accounting IFRS Reconciliations 92

Future CFO

APRIL 18, 2022

It also helps finance teams deliver financial results, create informative financial and management reports, and provide the chief financial officer (CFO) with an enterprise view of key financial ratios and metrics.

Finance 52

Finance IFRS GAAP Accounting Principles 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 85

SAP IFRS Compliance Invoicing 85

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

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