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Why Privately Held Manufacturers Should Implement IFRS-ready ERP Solutions
While regulatory requirements to adopt International Financial Reporting Standards (IFRS) may be a concern for publically traded companies only, there are

how to implement ifrs  instance, to determine exactly how to value capital assets. Now that we have established what IFRS is and why it is important for privately held manufacturers, let's delve into some key points about IFRS. One change that will affect many manufacturers is in the area of inventory valuation. IFRS does not allow for last-in, first-out (LIFO). Figure 2. IFRS will require companies to have enterprise applications with a degree of flexibility in the area of inventory costing. Illustration provided by IFS North Read More
Discrete Manufacturing (ERP)
The simplified definition of enterprise resource planning (ERP) software is a set of applications that automate finance and human resources departments and help manufacturers handle jobs such as or...
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Documents related to » how to implement ifrs


What Small Businesses Need to Know in Today’s Regulatory Environment
Today, entrepreneurs running small-to-medium sized businesses face daunting tasks that just a few years ago were not existent. The complexities of the business

how to implement ifrs  to use in determining how to enhance their risk management and criteria to enable them to evaluate whether their risk management is effective. Again, all important stuff, but how does a smaller organization, with limited resources, cope with all of this? Perhaps more importantly, how do they stay abreast of the additional changes that are sure to be on the way? The only sensible answer is through technology. Many tools have been developed that can greatly simplify the process. Before they can benefit Read More
Smooth Transition: Preparing for IFRS
International Financial Reporting Standards (IFRS) are the reporting standards developed by the International Accounting Standards Board (IASB). IFRS is now

how to implement ifrs  financial statements and determine how disclosures will be handled under this framework. These internal focal points reinforce the value of working in an integrated and flexible ERP environment, where necessary modifications, re-testing, and controls are consistently managed across all operations. Figure 1. An overview of the IFRS project development and execution process. The IFRS implementation phase is a subset of the overall project execution process and runs in parallel. The ERP system is at the Read More
Bean Counter to Business Leader: 5 Strategies for the CFO
The role of the chief financial officer (CFO) is evolving, but due to pressures to meet financial reporting requirements, there’s still a strong pull toward

how to implement ifrs  is to figure out how to have planning and forecasting processes that work, aligned with robust enterprise systems rather than spreadsheets. Governor. In any company, and especially if you are public, it is ever more important that investors can have confidence in the accuracy and validity of the reported results. You are the appointed one in charge of ensuring good governance through visibility, transparency, and accountability. Shape Shifter. The challenges that lie ahead are many. In addition to the Read More
QAD Explore 2012: Only Good Things Can Come from Talking to the Customer
As a seasoned provider of enterprise applications for manufacturing companies, QAD knows the importance of listening to its clients. In fact, the company has

how to implement ifrs  wins (low-hanging fruit) and how to leverage the customer’s current information technology (IT) investment in order to build rapid growth opportunities. QAD’s Discovery phase is aimed at being as nondisruptive as possible to the customer’s day-to-day business activities. QAD works with the customer’s project manager(s) to coordinate scheduling of his/her(their) personnel to review processes and their alignment with business goals. QAD consultants then measure performance against QAD’s elaborate Read More
How to Use Technology to Redefine Today’s Economy
Daniel Burrus examines how using technology can not only help organizations lower costs and become more efficient, but also redefine today’s economy. Learn the

how to implement ifrs  all about jobs and how to create them. You don’t create jobs by increasing productivity; you create jobs by creating new products, services, and markets. So even though we have a statistical recovery, we have a human recession. As such, recovery can’t be jobless. The bottom line is that we can use technology to eliminate jobs or create them. It’s time for businesses to focus on redefining as a tool for job creation. If you’re ready to start redefining your company so you can grow your business Read More
How to Make People More Willing to Share Knowledge in Their PLM Environment
In Why Some People Don’t Like PLM, Graham McCall said that some product lifecycle management (PLM) users’ reluctance to share knowledge with others is the

how to implement ifrs  next big thing is how to make these data and information more useful. Analytics and search are two promising components that will help. Siemens PLM has been offering reporting and analytics capabilities for a while—the first availability seen in 2006—and its analytics capabilities are not limited to PLM data but to data from virtually any enterprise application. One use case I’m interested to see is the combination of analytics and community involvement in the product development environment (or so Read More
Ways to Migrate Windows Applications to UNIX/Linux
Migration can be risky and expensive if handled by inexperienced developers. Seemingly small things can lead to bigger issues and cause performance problems

how to implement ifrs  to Migrate Windows Applications to UNIX/Linux Migration can be risky and expensive if handled by inexperienced developers. Seemingly small things can lead to bigger issues and cause performance problems. Hence, the services of a professional migration service provider who has executed similar projects is recommended. Learn about the different ways you can completely migrate from Windows to UNIX and Linux, so that you can make an intelligent, informed decision. Read More
How to Optimize ERP to Meet Wholesale Distribution Challenges
Efficient procurement and sourcing. Storing and moving inventories. Attracting and retaining customers. Such challenges have an impact on wholesale distributors

how to implement ifrs  to Optimize ERP to Meet Wholesale Distribution Challenges Efficient procurement and sourcing. Storing and moving inventories. Attracting and retaining customers. Such challenges have an impact on wholesale distributors’ revenues, competitiveness, and profits. To make timely and informed decisions that can impact your business, you need answers to questions like “How can I offer value-added services to improve customer loyalty?” Get the answers to this and other key questions. Read More
How to Reshape Your Supply Chain Network (and Why You Need to Do It Now)
The landscape of the supply chain has changed drastically over the past five years. It went from local to global in manufacturing, procurement, sourcing

how to implement ifrs  Now, the daunting question: How can an organization eliminate these challenges/risks and still make its supply chain work accordingly. The answer: E-commerce . E-commerce is an electronic exchange of data or a transaction, like an electronic funds transfer (EFT), or an electronic data interchange (EDI).  E-commerce within the supply chain helps create links for each business process. This allows organizations to communicate and collaborate with trading/business partners. There are benefits for using Read More
The IT Tipping Point for Midsized Companies: Deciding When to Move to Tier-one ERP
Many successful midsized companies reach a point when transitioning to a tier-one enterprise application system is necessary. Transitioning to a new enterprise

how to implement ifrs  systems, as well as how ERP solutions can help you manage regulatory compliance and track performance with key performance indicators. Read More
The High Cost of Change for ERP: What Does It Take to Keep Up-to-date?
Businesses of all sizes and in all industries are finding it difficult and costly to update and modify enterprise resource planning (ERP) systems after

how to implement ifrs  High Cost of Change for ERP: What Does It Take to Keep Up-to-date? Businesses of all sizes and in all industries are finding it difficult and costly to update and modify enterprise resource planning (ERP) systems after installation. The question isn’t whether a typical ERP solution supports change, but rather at what cost? Learn what midsize companies are doing about maintaining, modifying, and updating their ERP systems post-implementation, and what you could be doing better. Read More
Using ERP to Deliver E-commerce for Engineer-to-order Companies
Engineer-to-order (ETO) companies can use e-commerce strategies in order to improve customer service, reduce waste, and increase profits through a lean approach

how to implement ifrs  truly offers this capability. How to Select ERP for ETO E-commerce How you set up this UI is important. You want to make sure it is not an entirely different implementation to set up this portal. It is important that there is already a framework within the application to develop the portal pages targeting each type of collaborator. You could add a supplier portal, an engineering portal, a customer portal, a customer service portal, a field service portal—all easily developed with a few clicks. Identify Read More
How to Adapt to Changing Consumer Behaviors
Agile commerce means engaging with your customers in a consistent and relevant way, over whatever device or touch point your customer wants to engage with you

how to implement ifrs  to Adapt to Changing Consumer Behaviors Agile commerce means engaging with your customers in a consistent and relevant way, over whatever device or touch point your customer wants to engage with you. This white paper explores what agile commerce is all about, the benefits of an agile commerce strategy, as well as the steps organizations should take to shape an agile commerce environment. Read More

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