AM12 Sample Reports

AccountMate is equipped with a feature that allows companies that are currently using the US-GAAP compliant setting to switch to IFRS (International Financial Reporting Standards) compliant setting. Activating the IFRS feature will also enable the IFRS-ready financial statements. The IFRS Reports provides information on your company’s financial strength, performance, and other financial effects of your business transactions and activities.

Each of these reports is especially designed to provide several options so you can narrow down data to the specific information needed. Each report is also presented in various report formats. Read the information below to get a closer look at each of the IFRS Reports available in AccountMate.

Statement of Financial Position

The Statement of Financial Position report provides information of your company’s finances as of a certain period. The report helps you in assessing the financial condition of your company in terms of liquidity, financial risk, credit risk and business risk. The report also serves as a reference when evaluating various financial ratios.

You can set to generate the report for a single period, a period comparison (where periods may belong to the same or different fiscal years), a 2-year or 3-year (YTD) comparison. You can select either combined or consolidate options on how to display the balances in the report. You can opt to use the current/non-current or the liquidity report format. You can also choose to show the account balances rounded off to whole numbers in hundreds, in thousands, in ten thousands, in hundred thousands, or in millions of the company’s reporting currency units. You can further opt to include in the report the GL Account IDs, zero balance accounts, decimals, and accounts without any activity. You may also choose to generate a single report for all segments; and to show the liabilities and equity sections on separate pages.

Note:The Statement of Financial Position is available only when the IFRS feature is activated for the company.

Statement of Comprehensive Income

The Statement of Comprehensive Income report presents information of your company’s financial performance and results of operations over a specific reporting period or range of periods. This report is useful in assessing the results of your company’s operations as of a certain period. Also, this report serves as a reference when evaluating the company’s various financial ratios.

You can set to generate the report for a single period, a period comparison (where periods may belong to the same or different fiscal years), a 2-year or 3-year (YTD) comparison. You can select either combined or consolidate options on how to display the balances in the report. You can also select to generate this report for period-to-date, year-to-date, combined period-to-date and year-to-date, or range to date. You can opt to present the report using the one statement approach or the two statement approach. You can also choose to show the account balances rounded off to whole numbers in hundreds, in thousands, in ten thousands, in hundred thousands, or in millions of the company’s reporting currency units. You can further opt to include in the report the GL Account IDs, zero balance accounts, decimals, and accounts without any activity. You may also choose to generate a single report for all segments. You can further filter the report to show only the balance amount, only the percentage of each balance in relation to the total revenue amount, or show both the balance amount and percentage.

Note:The Statement of Comprehensive Income is available only when the IFRS feature is activated for the company.

Statement of Cash Flows

The Statement of Cash Flows provides information on your company’s inflows and outflows of cash and cash equivalents over a certain period. It presents the flow of cash in and out of the company as classified under operating, investing and financing activities. This report is useful in determining your company’s liquidity and ability to pay bills and other obligations. You can also use this report as reference to form cash flow projections in each of the operating, investing and financing activities of your company.

You can set to generate the report for a single period, a 2-year or 3-year (YTD) comparison. You can opt to use either the direct or indirect method when generating the report. You can also choose to show the account balances rounded off to whole numbers in hundreds, in thousands, in ten thousands, in hundred thousands, or in millions of the company’s reporting currency units. You can further opt to include zero amount cash flow categories and to show the amount decimals in the report.