12-19-2022 04:53 PM - last edited on 05-23-2023 05:44 AM by JackLacava
Hello!
Looking for some feedback on how your company records and reports on both IFRS and GAAP standards. Do you use a UD as a sort of data type to record adjustments where they differ between IFRS and GAAP? Or do you use different accounts with an alternate hierarchy? Or something different?
Interesting in hearing from anyone with any suggestions - thanks!
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12-20-2022 11:59 AM
Hi Nicole, customers typically use something like an Audit dimension (dedicated UD) for that. Most call it "Audit", though I Have seen "Nature" as well. Here is an example screenshot from Golfstream:
Each one I have seen is unique as each customer sets up members as required for their individual reporting.
12-20-2022 11:59 AM
Hi Nicole, customers typically use something like an Audit dimension (dedicated UD) for that. Most call it "Audit", though I Have seen "Nature" as well. Here is an example screenshot from Golfstream:
Each one I have seen is unique as each customer sets up members as required for their individual reporting.
12-20-2022 12:04 PM
Agreed, most often approached in a dimension similar to this, named "Data Audit", "Reporting Basis" or similar.
12-27-2022 10:03 AM
Thanks, all!