Standardised financial reporting
Statutory reporting is the mandatory submission of financial and non-financial information to a government agency. Each industry has its own set of laws and regulations (statues) that mandate reports. In many countries, International Financial Reporting Standards (IFRS) has replaced country-specific Generally Accepted Accounting Principles for statutory reporting. In order to fullfil internal and external reporting requirements, data needs to be consolidated from different sources into different formats, applying different accounting and valuation rules.
Today's corporate officers are held more than ever before to higher standards of accountability. Their businesses grow more complex and stakeholders and business owners demand faster access to accurate results. Any changes made, in the corporate structure or other, need to be reflected properly in all books.
Aexis solutions provide:
- Finance manages the consolidation process. define and maintain all financial consolidation rules and processes from the office of finance.
- Multiple ERP systems, supported through a reporting chart of accounts.
- Built-in best practices. ensure accurate collection and reconciliation of financial results, and eliminate data and calculation errors.
- Transparent audit trail to satisfy both internal and external auditors in order to guarantee timely and accurate consolidation, in a controlled and efficient manner.
- Local and global financial consolidation. meet the complete range of consolidation and reporting requirements including International Financial Reporting standards(IFRS) and U.S. Generally Accepted Accounting Principles (GAAP).