Financial Statements

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Preparing financial statements (Financial Statements) in accordance with International Financial Reporting Standards (IFRS)

 

 

Would you like to:

  • prepare Financial Statements in 1/3 of the time you need today;
  • reduce pressure and stress of the last few days before the delivery of Financial Statements;
  • be confident that your Financial Statements are free from errors and omissions;

 

The CaseWare solution:

  • By importing the Trial Balance the Financial Statements are 90% complete
  • The import facility in extremely simple and works with files in electronic format, including Excel
  • The import process may be repeated as many times as necessary and until the Trial Balance is final
  • Last minute adjustments may be entered directly in CaseWare and be reflected immediately in the Financial Statements
  • The amounts in the Financial Statements are linked directly to the amounts in the Trial Balance
  • Drill-down facility to go from amounts in the Financial Statements to the source balances in the Trial Balance
  • Rolling forward to the next year is easy. All current year balances are automatically transferred to comparatives whilst all text manually entered in the Financial Statements is maintained
  • Terminology that is repeated in various parts of the Financial Statements is inputted in one place and linked to all other parts of the Financial Statements, saving time and avoiding inconsistencies
  • The statement of profit or loss, the statement of financial position and the statement of cash flows are linked to the notes in the Financial Statements thus eliminating the risk of any discrepancies
  • Checks are set up throughout the Financial Statements that highlight any discrepancies as they occur
  • Easy to learn. A one day training is sufficient for new users to be able to prepare their own Financial Statements

 

key features

  • Presentation of the notes to the Financial Statements is automatically changed to be in line with the accounting policies adopted by the entity (e.g. fair value or amortized cost)
  • Only notes with balances are preselected for presentation in the Financial Statements. The user may select to exclude/include any note at any point in time during the preparation process
  • Amounts, note and page number references in text paragraphs are calculated by formulae and are updated every time there is a change in the Trial Balance of the Financial Statements
  • Automatic calculations throughout the set
  • Automatic note and page numbering
  • Automatic cross referencing to the notes and page numbers
  • Bilingual. Financial Statements may be prepared in either Greek or English
  • Financial Statements for many different types of entities, including companies, partnerships, joint ventures, sole traders, branches of companies, Provident funds, Associations, Foundations and Trusts
  • Alternative presentation options are also available for listed companies, shipping companies, investment funds and  non profit organisations
  • Interim Financial Statements are even easier to prepare in CaseWare
  • The consolidation process is very easy

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