MULTI-GAAP COMPLIANCE SUPPORT
Multi-GAAP compliance support provides the multinational enterprise with flexibility to report in multiple GAAP environments from a single set of books. By using accounting layers in QAD Enterprise Financials, each region or division of the enterprise can follow the appropriate accounting rules set by their national governing body.
Multi-GAAP compliance ensures that the company meets every country’s GAAP requirements. It addresses unique financial regulations established by country, including accounting standards, conventions and rules followed in recording and summarizing transactions and preparation of financial statements.
VALUE AND BENEFITS
The primary values you will receive from MultiGAAP are simplifying reporting when you operate your business in multiple countries, and reducing operational costs to generate reports for each country’s GAAP requirements. Though GAAP standards vary significantly by country, this solution makes it easier to conform to appropriate country accounting and reporting requirements.
Simplifies multi-GAAP reporting — generates multi-GAAP reporting through the use of multiple accounting layers in a single report.
Supports legally required financial reports for each facility — allows each facility to create legally required financial reports and to operate as required by government accounting rules.
Provides flexibility in consolidating financial reports — provides the ability to consolidate financial reports with corporate and to adhere to corporate GAAP requirements even if they differ from local GAAP rules.
Streamlines recording and reporting transactions — streamlines recording and reporting transactions that must meet multiple GAAP requirements.
- Supports flexible financial report structures for analysis using multiple reporting views, including organizational, regional and management reporting structures
- Provides multiple accounting layers for multi-GAAP reporting from a single set of books
- Allows multiple charts of accounts (COAs) for reporting purposes
- Provides ability to combine accounting layers in reporting
- Provides simulation of GAAP transformation transactions to determine the best scenario
- Supports IFRS segment reporting using allocations and supplementary analysis fields