Merits of Vt final accounts for producing IFRS STATUTORY accounts?

Merits of Vt final accounts for producing IFRS...

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Currently produce IFRS STATUTORY accounts in word. Would you recommend vt final accounts to improve process?

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By bernard michael
20th Nov 2012 08:57

Yes

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By vtsoftware
20th Nov 2012 10:03

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

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Replying to daveforbes:
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By Red car
20th Nov 2012 12:05

Cost

There is a possibility the company may revert back to UK GAAP in the future so IFRS templates not required.  Can one subscibe to VT Final Accounts without VT Transactions+ and if so what is the cost in the first year (1 user).

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By bernard michael
20th Nov 2012 10:27

Whoops sorry I wasn't thinking

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By vtsoftware
22nd Nov 2012 08:53

VT license costs

See www.vtsoftware.co.uk/prices

VT Transaction+ is supplied free with VT Final Accounts.

 

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