Wednesday, August 06, 2008

IFRS Taxonomy Modules Manager (ITMM)

An IFRS Module Manager has been released by the IASC Fouundation that enables users to put together the modules in the standard 2008 IFRS taxonomy to be able to produce financial statements in their desired format. For example, the tool provides for selection of balance sheets classified according to current/non-current, or unclassified balance sheets using the order of liquidity format. It also provides for various forms of income statement and the cash flow statement using the direct method and the indirect method. Numerous notes are represented by separate modules, enabling the user to select the notes he or she wishes to include in the financial statements. The module is an important tool for starting with IFRS adoption by effectively forming the taxonomy in the format required for a particular company. IFRS Taxonomy Modules Manager (ITMM)


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