Financial Statements. iXBRL

Automation of financial reporting. IFRS. iXBRL taxonomy.

After the amendments to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine” (Article 11, Clause 6), all companies that keep records in accordance with International Financial Reporting Standards (IFRS) (mandatory or voluntary) are obliged to submit reporting in XBRL format through a single portal ( In addition to annual reporting under IFRS with an audit opinion, companies are also required to submit reporting for the three months, six months and nine months ending in the reporting period.
To prepare reports in the iXBRL format, it is necessary to use specialized software for compiling and validating the prepared reports. Caseware Financials helps automate routine aspects of the financial statement preparation process. With easy-to-use tools and templates, users can create financial reports quickly and with confidence that these reports have been audited. At the same time, any adjusting journal entries that users import or make directly in the software will update all related financial statement figures, including notes.
Preparation of financial statements is quite a time-consuming process for any company, regardless of its size or the specifics of its activity. The difficulty is mainly in performing checks, maintaining constant control of indicators and, if they change, making adjustments that affect other related reports and notes. Especially if it concerns separate and consolidated reporting, or several separate reporting of the Group of Companies. In addition, companies spend a significant amount of time proofreading the report, correcting spelling errors, matching page numbers, footnote references, and footers.
If necessary, companies can build their own sets of reports in working documents, which are based on already imported data. For example, it can be statistical reports or management reports. Thus, the Caseware Financials software solution allows you not to duplicate work processes for the preparation of various reporting formats, but to set up automated processes that will do it for employees.

Main advantages


iXBRL - users can export ready-made financial statements to html, xml, iXBRL/XBRL formats by tagging indicators in accordance with the UA XBRL Taxonomy of IFRS, pre-validating the correctness of compilation and compliance with the controls laid down in the XBRL taxonomy.

Reporting templates

users prepare financial reports based on reporting templates that were developed on the basis of international practices and use the latest IFRS standards, or can make their own settings according to the specifics of the industry in which the company operates.

Transfer of data to the next reporting period

when using the year closing function, all data contained in the project are transferred to the project automatically created by the program for the next reporting period.

Built-in consolidation

the ability to compile financial reports both at the level of a separate enterprise and at the level of the Group. Simplified configuration allows you to create appropriate subsidiary companies, subgroups.

End-to-end changes

when adjustments are made, errors are corrected, changes are automatically transmitted to all related documents, which reduces the risk of data inconsistencies.

Formation of interim reporting

use a single database to generate both interim (half-yearly, quarterly, bimonthly or monthly) and annual reporting.


financial reports can be prepared in Ukrainian or English. If necessary, other languages can be added to the template.

Data Import

Import trial balance, adjustments or general ledger details from accounting programs, Excel, CSV, XBRL, XML, SAF-T.

For whom the software solution is suitable

For the Group of Companies
For Ordinary Enterprises
For Banks
For Insurance Companies

If a company prepares separate and consolidated reports, or a group of companies prepares several reports of a similar format at once, the Caseware Financials program will greatly facilitate the work of preparing reports of this format, since users can once configure a report template with an already configured iXBRL format and then distribute it to all other users or other companies.

Three modules are available for working with financial reporting: for ordinary enterprises, for banks and for insurance companies. If the Group of Companies includes companies with different types of activity, the modules can be used simultaneously. All modules have the same set of functions and capabilities, they differ only in content and tags of the corresponding taxonomy.


The Caseware Financials solution allows you to use up-to-date templates that ensure compliance with new standards and practices. Organizations have different business specifics and, accordingly, different disclosure needs. That’s why Caseware Financials financial reporting solution includes a number of best examples and templates that can be adapted to the needs of a specific industry or organization.

Users can make their own settings according to the specifics of the industry in which the company operates, easily change all elements of reports, notes and disclosures using extensive software configuration options. Users can also tag all their own additions in accordance with the UA XBRL IFRS Taxonomy and convert ready-made reporting into iXBRL format.


Financials Bank  is a template created specifically for Ukrainian banks in accordance with International Financial Reporting (including the taxonomy of UA IFRS XBRL reporting) and Methodological recommendations of the National Bank of Ukraine. Allows you to automatically generate reports with appropriate notes and disclosures, import analytical accounts to fill in more detailed information.

The Financials for Banks template can be used out-of-the-box or customized according to the organization’s requirements and distributed to all end users. Formed financial statements and other information that the bank is required to submit to the regulator can be transformed into the iXBRL format and submitted to the financial information collection cente.

Financials Insurance is a modern solution for insurance companies of Ukraine. Automation of processes, simplified formation of financial reporting when performing functional tasks are the primary tasks of this template. The main purpose of the template is the formation of business information of insurance companies for the purpose of standardized submission in electronic form and in the iXBRL format.

The template contains the main reporting forms of Ukrainian companies, which have been transformed in accordance with the reporting requirements of insurance companies.
The template intended for insurance companies contains automated disclosures that are not typical for ordinary enterprises, taking into account all the peculiarities of insurance activity. The standard tags of the current insurance taxonomy are already inserted in the template, if necessary, the user can make changes to them.

Recommended products


software for fully automating the preparation of financial statements using best practices that comply with International Financial Reporting Standards (IFRS).

Working Papers

an all-in-one secure platform for accounting professionals for all engagement, analytics and practice management needs.


One-time service of preparation of annual iXBRL reporting with training and subsequent purchase of software

In the first year, Caseware Ukraine prepares the annual financial statements and sets up a template for the preparation of subsequent reports for the user, and at the same time trains him to work in the software and advises on any issues that arise. Access to a demo version of the software is provided for the training period

Training and consulting on the use of Caseware Financials software

Consultations on use are provided during the entire period of use of the software. If users have specific requests or need a more detailed introduction to the software, they can order additional training and consultations.

Outsourcing of package preparation (annual and quarterly) iXBRL reporting

The reporting is generated in the Caseware Financials software and corresponds as much as possible to the existing reporting approved by the auditors. The report is additionally validated using Altova XMLSpy software. When ordering this service, users do not purchase software.