annual y/e financial accounts
developed to assist and deliver the preparation of the annual y/e financial accounts of any type of enterprise under National GAAP (NGAAP). The application runs in a multi spreadsheet excel environment, at the time of y/e annual accounts preparation and results in the full set of financial accounts under NGAAP, in a dynamic and easily changeable environment. Below is a list of its main sub-modules:
- accounting and financial accounting detailed with full ledger and log of accounting entries, separated in adjustments, y/e and balance sheet, full set of trial balances with full set of all accounts in all combinations of 1-2-3-4-level distinction, in a dynamic mode, balance sheet, account of profit and loss, inventory and all accounts needed y/e valuation, detailed lists of expenses allocation to functions based on customized allocation rules, tables of movements of fixed assets reconciled with accounts, all fully automated and inter-linked and fully complied with National GAAP (EGLS/SLOT) and fully reconciled with all other spreadsheets and working papers
- management accounting detailed at single material / product level, when necessary detailed in any product group up to desired number, multi-list inventory movement trial balance (b/f, purchases, sent to production, from production, sales, c/f) detailed in quantity, value and average cost for each single material / product for any industrial client, fully automated and inter-linked, fully reconciled with all other spreadsheets and working papers
- tax section comprised of working papers such as the more detailed old version of E3 form (fiscal year as at 1994) Min of Finance, annual corporation tax return in full and detailed format, monthly and annual VAT returns, details of info fields of the annual VAT return, etc., all fully automated and fully complied with valid tax laws and National GAAP (EGLS/SLOT) and fully reconciled with all other spreadsheets and working papers
- support of multi-location enterprises i.e. central and branches and each of the above analysis and details per location
What is achieved using iKO-100:
- analytical documentation in relation with the annual y/e documentation folder as per the generally accepted auditing standards for the purposes of internal and external statutory audit, management information and various tax audits
- dynamic modeling in such a way that all available accounting or tax options are clearly and easily depicted and can be easily altered thus altering the result, tax burden and indexes accordingly yet at each time all financial accounts are balanced and reconciled
- minimization or even zero error of numerical data or tax / accounting data
