Thought you might like something for this weekend:
Announcing the release of 'account_ifrs', the IFRS Accounting Module with IFRS
Financial Statements.
Install on TinyERP/OpenERP 4.x releases.
Download:
Module:
http://greno-misc.googlecode.com/files/account_ifrs-1.0-1.zip
Screenshot:
http://greno-misc.googlecode.com/files/ifrs_stmt_of_fin_pos.jpg
Screenshot:
[url]http://greno-misc.googlecode.com/files/ifrs_stmt_of_income.jpg
[/url]
NOTE: Please run this on a test database first so you become familiar with the
changes before your push it to production.
If you have the opportunity, please test this module on some database copies of
real data and report your results.
Financial and Accounting Module:
* Adds IFRS/US-GAAP compliant account types.
* Adds IFRS "Statement of Financial Position" report.
* Adds IFRS "Statement of Income" report.
* Does not change existing accounting behavior:
* Deferral (closing) method behavior unchanged.
* Behavior of functions relying upon account_account.type is
unchanged.
* Adds new fields to account_account table:
* accttype: this holds the five IFRS/US-GAAP compliant account types.
* Asset
* Liability
* Equity
* Income
* Expense
* current: this boolean is used to indicate current/non-current
account status.
* current: has impact only in current year.
* non-current: has impact even beyond current year.
* operating: this boolean is used to indicate operating/non-operating
account status.
* operating: related to core operations of the
company.
* non-operating: not related to core operations of the
company.
* Adds new entries to account_account_type table to support generation
of IFRS financial statements.
* liability
* cost_of_goods
* cost_of_services
* depreciation
* amortization
* financing
* tax_income
* tax_vat
* non_recurring
* other
*
* Going forward determination of account types will involve looking at
both 'accttype' and 'type' fields.
*
* Prefers account codes to all be the same length (mixed length account
codes may produce strange results)
* e.g.: 1001, 1010, 1020, 2000, 2010
*
* Expects proper parentage for all accounts (bad heirarchy may produce
strange results).
*
* After installation:
* Set the IFRS account type (accttype) and 'current' and 'operating'
flags for each of your accounts.
* accttype (default: expense)
* current (default: True)
* operating (default: True)
* Note: you can set Account Chart (code=0) to anything, all settings
are ignored for code=0.
*
* Set the account type (type) using the newly added entries for
income and expense accounts.
*
* NO LEGAL OR ACCOUNTING OPINIONS WERE OBTAINED WITH REGARD TO THIS
MODULE OR THE FINANCIAL REPORTS.
* USE AT YOUR OWN RISK.
The goal is to end up with IFRS compliant reporting.
The 'account_ifrs' module is the basis that permits IFRS compliant reporting to
be developed within TinyERP/OpenERP.
Two of the IFRS financial statements, the Statement of Financial Position and
the Statement of Income
are included in this release. Once we have these right then the others can be
developed such as the Statement of Changes
in Equity and the cash flow statements.
The included IFRS financial statements do not yet have the comparative columns
as we need to make sure everything is correct first.
We can add the comparatives once we're sure the statements are correct.
For those familiar with IFRS, please review and comment.
Please note that to a great degree, whether an entity complies with IFRS is
largely determined by their accounts structure
and how the business treats the various items.
Please also note that under US-GAAP, asset and liability accounts are presented
in order of decreasing liquidity
whereas under IFRS they are presented in order of increasing liquidity. IFRS
requires minimum line item disclosure on the
balance sheet such as PPE, investment property, intangible assets, financial
assets, biological assets, inventory, receivables, etc.
Order of presentation within each group is not mandated.
The wizards have various control buttons that can control financial statement
presentation.
Enjoy.
DISCLAIMER:
I AM NOT AN ACCOUNTANT AND NO LEGAL OR ACCOUNTING OPINIONS WERE
OBTAINED WITH REGARD TO THIS MODULE OR THE FINANCIAL REPORTS.
PLEASE DO YOUR OWN RESEARCH AND THEN COMMENT.
USE AT YOUR OWN RISK.
Regards,
Gerry
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