Nprogression IFRS Transformation & Consolidation

Features:

• Any primary accounting system can be used as a data source
• Data transfer rules developed with representatives of the Big4
• Automation calculation of adjustments
• Flexibility in setting up consolidation perimeters
• Tool for flexible configuration of financial reports
• Preparation of reporting can be done both by the system and on the BI level

Functionality of the basic N.Progression IFRS solution

N.Progression IFRS solution supports:

1. Transferring data at the general ledger level.
2. Posting transformation rules support mapping by:
   • source accounts (primary accounts)
   • transaction type (debit/credit)
   • corresponding account
   • analytical slice up to 3 any analytics

   This combination is mapped to the IFRS account. Additionally, up to 3 recipient analytical sections can be mapped for the above-mentioned mapping settings.

3. Transformation of assets with parallel accounting elements is implemented (transformation of operation facts). Each typical operation with assets is mapped to the accounting rule for that operation at the consolidated level.
4. Analytics transformation. The code of the source analytics value can be mapped to the recipient analytics code. This tool serves the purpose of unifying analytics at the consolidated level.
5. Error log is supported during transformation,indicating the link to the erroneous operation and detailing the reasons.
6. Excluding correspondence. The ability to exclude operations for transformation purposes by correspondence. For example, we can exclude revaluation operations or closing operations from IFRS transformation.
7. During the transformation, the currencies are recalculated to the local currency of the receiving company.
8. At the IFRS level, for audit purposes,a reference to the original operation in the local accounting company is retained. The amounts in the original currencies are retained as well.
9. Task for revaluation of operations at the IFRS level is implemented.
10. Disclosure of the main reporting forms using the built-in report designer.
11. "Consolidation Monitor" tool-real-time monitoring of the data transfer process at various levels (import from primary accounting systems, data mapping, accounting of operations in terms of IFRS). If user participation is required at any stage, the system signals it.
12. Tool "Adjustment Calculation Monitor" - calculation and test accounting of the selected set of adjustments, automatic generation of deciphering reports (notes) based on the accounting results. Possibility to rollback previously taken into account adjustments. Ability to generate deciphering reports on previously accounted for adjustments.
13. Instrument "Adjustment Monitor"- in the context of companies included in the group, indication of calculated and recorded adjustments in the period. The tool is necessary for a quick understanding of the current status of the reporting process by the head of the financial group.
14. Elimination at the level of identifying typical pairs of interactions between two counter parties.