Financial Reporting. IFRS. XBRL

Caseware Financials: Automation of financial reporting under IFRS. XBRL

Preparing financial statements is a complex and time-consuming process that requires accuracy, control, and data consistency. For many companies, this means significant time and resource costs:

Verification of indicators;
Adjustments in interrelated reports;
Document formatting;
Reconciliation of consolidated and separate statements.

Caseware Financials is a modern solution for automating the preparation of financial statements that helps reduce working time, minimize errors, and increase team efficiency.

No more complications with IFRS and XBRL reporting

According to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine,” companies reporting under IFRS are required to submit reports in XBRL (iXBRL) format based on the UA XBRL IFRS Taxonomy through the single portal.

Caseware Financials automatically generates reports in the required format and helps avoid technical errors when submitting.

One data import — all reports ready

A single data import is enough to get a complete set of reports. You can create:

IFRS Financial Statements — for website publication and approval by the auditor’s report.
Financial Statements in XBRL Taxonomy format — for submission through the unified state portal.
Statistical reports — forms according to national accounting standards.
Management reports — for internal analysis and planning.

Automation eliminates duplicated work, ensures consistency across all report formats, and saves the finance department time.

Key Advantages

iXBRL

Users can export the completed financial statements in html, xml, iXBRL/XBRL formats using tagging of indicators according to the UA XBRL IFRS Taxonomy, after validating them for correctness and compliance with the controls embedded in the XBRL taxonomy.

Reporting Templates

Users prepare financial reports based on reporting templates developed on international practices and using the latest IFRS standards, or they can create custom settings according to the specifics of the industry in which the company operates.

Data Transfer to the Next Reporting Period

When using the year-end closing function, all data contained in the project is transferred to a programmatically generated project for the next reporting period.

Built-in Consolidation

Financial statements can be prepared both at the level of an individual enterprise and at the Group level. The simplified configuration allows creating corresponding subsidiaries and subgroups.