We Get It! Statutory accounts production in larger companies can be a real pain in the….

We understand statutory accounts production under FRS 101, FRS 102 and IFRS is a task that that sits very low on the to do list of many people. They do it not because they want to, but simply because they must. It is also one of those tasks that will continue to move down the to do list until it absolutely must be done.

In many ways statutory accounts production can be seen by many as a bit a like putting the rubbish out, firstly they hope someone else will do it (but they never do), Secondly, it always gets left to the last minute and then it becomes a scramble, which if not done or not done properly results in a stink.

When we say we get it, its not just that we understand that this is how many people think, we understand why they think that way. The tools that people use are not fit for purpose and in many cases, the ‘solutions’ have been over promised have been under delivered. The reality is the tools that are meant to make it easier often don’t. Then there is the ever-changing accounting standards, new regulations and off course the audit! Long weeks of early starts, late finishes and a constant stream of re-works, edits and drafts don’t generally make for fun times.

And then once everything has been signed off you may have to either apply iXBRL tags virtually by hand or pay for the pleasure of a third party having to complete the task.

But it doesn’t have to be that way.

With the right tool and the right guidance statutory accounts production for even the most complex accounts can be made easier. At IFRS SYSTEM the only thing we do is create and support statutory accounts production software that we believe to be ‘best in class’, Which is why we offer free trials for those interested and a 120 day money back guarantee to every new client

So, who are we?

IFRS SYSTEM was first developed in 2004 as an in-house tool for Financial Reporting Specialists www.frs.com.au and released commercially in 2010. In that time, we’ve thought long and hard about how we can make the task of statutory accounts production a less time consuming and painful process. We still think about how we can make it easier and we won’t stop.

Our Customers?

Hundreds of companies across many industries use IFRS SYSTEM to make their lives easier so we must be doing something right.

But I don’t want this to be a sales pitch, all I want to say is and I may be partly repeating myself that we understand the problems involved in statutory accounts production and we have done something about it.

So, if you are preparing IFRS or FRS 101 and 102 statutory accounts our software can make it easier. Visit our stand and we will show you how.


Posted on 22.07.19