Currently produce IFRS STATUTORY accounts in word. Would you recommend vt final accounts to improve process?
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Difficult
VT Final Accounts does not currently contain IFRS templates.
You could draw up your accounts in Excel (without using VT), and then use VT to tag them and generate an iXBRL account file. There are two tagging dialogs, Set Tag (Easy) and Set Tag (Comprehensive). However, only the latter is available at the moment for IFRS so that is considerably more difficult too.
All this changes of course when IFRS kicks in for medium/large companies in 2015.
Philip Hodgson
VT Software
VT license costs
See www.vtsoftware.co.uk/prices
VT Transaction+ is supplied free with VT Final Accounts.