Rob Mathieson
Articles
Recent activity by Rob Mathieson
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IFRS 15 / ASC606
Introduction New reporting standards, IFRS 15 and ASC606 deal with the recognition of revenue from contracts. Many systems still have not made allowances for this process, but using cloud accountin...
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VAT and MTD
Introduction VAT, along with Making Tax Digital (MTD) are an essential requirement of any financial system, yet some manage this better than others. Although MTD is a standard requirement, some sys...
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Tax / International Tax
Introduction Every business has a requirement to record Tax of some description, but not all systems give you the flexibility to customise the Tax area to support required statutory reports. Cloud ...
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Foreign Exchange Revaluation
Introduction Foreign exchange revaluation allows you to identify realised and unrealised gains and losses made due to exchange rate fluctuations and enables you to process them in your accounts. Fo...
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Exchange Rates
Introduction All foreign currency transactions require an exchange rate to convert the posting to the base reporting currency. Typical Problems Maintaining constantly fluctuating exchange rates is ...
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Intercompany Transactions
Introduction In multi-entity companies, it is common for one entity to have transactions with another entity in the same company (IETs). This can be for assorted reasons such as Loans, transfers, A...
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Multi-base Currency
Introduction Consolidating multiple base currency entities can be particularly complex due to the challenges around every changing exchange rate. Cloud accounting systems can automate the consolida...
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Inter Entity Eliminations / Inter Company Eliminations
Introduction Intercompany elimination is the process that a parent company goes through to remove transactions between subsidiary companies within the same group. Parent companies complete intercom...
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Consolidation
Introduction Consolidation accounting is the process of combining the financial results of several subsidiary companies or entities into a single combined set of financial results of the parent com...
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Multi-Entity Consolidation
CONSOLIDATION Introduction Multi-Entity organizations are often faced with complex challenges for consolidations and need to resort to excel based solutions which can be time-consuming and error-pr...
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