The IFRS Challenge

There’s no longer any doubt: International Financial Reporting Standards (IFRS) are coming down the pipeline. The business and accounting press are full of news about IFRS, and businesses are realizing they need to pay attention.

IFRS will fundamentally change how businesses report their results. Now is the time to start planning…

Preparing your accounting system for IFRS

In addition to training, a key component of preparing for IFRS is ensuring that your accounting, financial management, or ERP (enterprise resource planning) system is capable and ready for the change.

The shift to IFRS represents one of the most challenging developments the accounting world has ever faced.

Sage Accpac has features and functionality that will support your transition to IFRS

• Sage Accpac currently allows users to choose from a wide range of configuration options to ensure their transactions are processed and their accounts are kept in compliance with whatever local rules they happen to operate under.
• All of the countries in the European Union are already compliant. In the Asia Pacific region, a large number of countries (including Australia, Hong Kong, and New Zealand) have national standards that are virtually identical to IFRS. Sage Accpac has over 13,000 clients in IFRS jurisdictions.