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IFRS compliance


A complete set of tools for IFRS in the areas of fixed asset and capital lease accounting.

In the context of Activa software, we refer to IFRS specifically as the IASs that the IASB has and is still issuing. The close similarity between the IAS and locally applied standards means that the facilities in the software also relates to the AASB standards in Australia, ASRB in New Zealand, GASB and FASB in the United States and their equivalents in the United Kingdom and other countries that have adopted IFRS.

Activa software continues to provide the controls and other tools required to meet IFRS in the areas of fixed asset accounting, capital lease accounting, foreign exchange reporting, joint venture accounting and a number of other specific areas that relate directly to the acquisition, financing, reporting, disposal and disclosures of capital fixed assets.

The following references and accompanying notes are a summary of those areas where Activa provides specific functionality to assist users to meet IFRS compliance.


Related information

The following subjects contain important information relating to the key areas of the reporting standards;

IAS 16 - Property Plant and Equipment

Measurement, recognition, depreciation, impairment de-recognition and disclosure requirements for fixed assets.

IAS 17 - Leases

Activa Contracts software gives you the tools you require to maintain full standards compliance and disclosures for leased assets.

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Article last updated : Feb 21 2012 4:04PM

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