Every trading company listed on an EU regulated market is required to prepare consolidated financial statements, according to the IFRS (International Financial Reporting Standard). For accounting firms keeping the financial-accounting books for foreign capital companies, as well as for most of the companies annually audited, the IFRS report is a basic request.
- WME gives the possibility to generate IFRS reports (balance sheet, profit and loss account) with all necessary elements
- The correspondence between the main accounts and the IFRS reports automatically generates IFRS reports
- You can define specific indicators and can create different columns for the current and the previous period: values without adjustments (from the statutory balance), adjustments and values with adjustments. The values from the real estate’s depreciations can be those from the economic depreciation or the group depreciation
- Reports can be made monthly/quarterly/yearly
- You can enter Accounting notes for IFRS adjustments
- You can enter records of adjustments on partners and you can import them from templates
- You can enter adjustment regularizations for the obligations entered on partners. The resulting differences are taken to the adjustments column and are linked to partners’ accounts
- The Euro conversion can be made with different exchange rates, depending on the balance account or the balance sheet category
- The reports’ format can differ, depending on the requested template.