IFRS PARTNER - The market leading product for conversion from GAAP to IFRS
Is your company moving to IFRS? If so, you can leverage the IFRS PARTNER product to affordably and efficiently manage through the activities needed to transition from GAAP to IFRS.
Comprehensive Approach and Methodology
IFRS PARTNER is the only product on the market that takes you end-to-end from GAAP to IFRS. The product employs a proven, phased approach to ensure a solid and rapid transition from GAAP to IFRS. First you develop a step-by-step IFRS transition plan; then you enter your financials to rapidly provide a GAAP-to-IFRS scoping analysis; then comes the drafting of IFRS policies along with IFRS 1 policy election considerations; building on this analysis you undertake a detailed impact assessment on what IFRS will mean for your organization in terms of both quantitative and qualitative impacts; easily create management and audit committee reports; and then finally pull it all together with IFRS financials and supporting notes/disclosures.
Affordable and Rapid-To-Deploy
IFRS PARTNER is the market-leader in helping global companies make the transition to IFRS. Customer after customer attests to this superior value that we deliver. Please go to our References tab to read more. The even better news is that your firm can be up and running within an hour to give you a head start.
IFRS PARTNER can be purchased as a complete solution to manage your full GAAP-to-IFRS transition, or you can purchase just our IFRS PARTNER Financial Reporting System engine known as the IFRS Financials Statements and Notes Manager. Either way you get the industry’s most powerful tool set to get your IFRS project completed on a timely basis.
GAAP-to-IFRS Scoping Analysis – Determine Key Differences Between GAAP and IFRS
The road to IFRS involves lots of change. A critical first step on your organization’s transition to IFRS is to qualitatively determine the accounting policy areas of greatest potential change. Typical industry and consulting solutions in this area are expensive and time consuming. With IFRS PARTNER you simply enter your financial statements into the product and you immediately are presented with in-depth reporting information outlining the scope of included and excluded IFRS standards and supporting detail. Additional graphical reporting and in-depth analysis can provide your audit committee and external auditors with the information they need to support your initial transition activities. With IFRS PARTNER you get an immediate return on your investment and have saved yourself significant time and money.
Draft IFRS Policies and IFRS 1 First-Time Adoption Considerations
Essential to your IFRS journey is the need to review your accounting policy choices. We have spent thousands hours developing "IFRS ready" content so that you don't have to. IFRS PARTNER provides you with an extensive Draft IFRS Policy Library that utilizes a clean slate approach and covers over one-hundred and seventy-five essential policy evaluation elements to drive your transition activities and considerations. With IFRS PARTNER it is easy to create and modify the preformatted IFRS policies and tailor them to your organizations requirements. These policies will include as applicable policy elections under IFRS 1 First-Time Adoption. With your draft IFRS policies completed you can then quickly begin your impact assessment of policy changes.
Impact Assessment and Management/Audit Committee Reporting
IFRS PARTNER comes complete with impact assessment templates and tools that you can use to evaluate your new draft IFRS policies across all standards affecting your organizations. The impact assessment include detailed guidance and tools to help you determine the effect of IFRS policies on financial measurements, systems and data, internal controls, disclosures, and business activities. As you identify potential impacts you can assign impact ratings, responsibilities, due dates, attach supporting notes and backup materials and more. IFRS PARTNER keeps track of all your action items and then helps you to report across all transition activities in terms of schedules, IFRS standard specific issues, project activity, and more. IFRS PARTNER helps you manage the details so you don’t get managed by the details. To help provide feedback on your transition activities you can report in a variety of detail and summary formats appropriate to your audience – audit committee, CFO, project team, or external auditor.
Create your IFRS Financials and Notes – Financial Statements and Notes Manager
Ok, so now you can get down to the new IFRS numbers and notes! IFRS places a significant burden on financial reporting teams in terms of increased disclosures. Using the IFRS PARTNER Financial Statements and Notes Manager you can rapidly create your IFRS transition financials along with GAAP comparatives. As you create your statements the software automatically links required IFRS presentation references and disclosure instructions based on your statement requirements. Then you can utilize our library of industry specific IFRS notes, or incorporate your own notes, and then modify the note information as required and then link to the applicable financial line item. You then have a complete set of reporting tools and analytics to help you drive a more consistent interim/quarterly and annual reporting process. Create your draft financials is then as simple as pushing a button and having IFRS PARTNER merge your financial statements and supporting notes into Word format for further modification and editing.
Easy-To-Use and Minimal I.T. Investment
IFRS PARTNER leverages your existing I.T. infrastructure with tight integration to Microsoft Office® including Word®, Excel®, Visio® and e-mail links can be built into your transition documentation. Link your existing documents and systems to IFRS PARTNER without having to add new infrastructure.
National and Industry-Specific Versions
IFRS PARTNER is available for companies listed on Canadian capital markets. Companies listed on U.S. and Indian markets will be able to leverage IFRS Partner in 2010. In addition, Industry-specific versions are available for Mining, Oil & Gas, Manufacturing and more.
IFRS Intranet (Optional)
Deploy best practices, analysis and transition documentation across your own "IFRS Intranet" with the push of a button. This provides intuitive navigation for users and also allows for scalability across multiple business units from a central location.
Training with Maintenance and Support
You can choose from various Training (on-site or web-based training) and support options that vary from lean to extensive. It's your choice. IFRS PARTNER is also supported by a choice of maintenance and support programs to keep you up-to-date with changes to IFRS standards and more.
Consulting Assistance (Optional)
IFRS PARTNER has been designed to help you significantly streamline the need to utilize expensive and scarce expert resources. If you need additional assistance the IFRS PARTNER team has created some special consulting options to help is available to help.
Get the partner you need - IFRS PARTNER. Find out more.
So, if you are making the transition to IFRS, you can benefit from the rich content, tools, ease-of-use, support and affordability that make IFRS PARTNER the industry leading IFRS transition solution.