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TRG Blog

What to look for in a planning and budgeting solution

Posted by Oanh Nguyen on

Planning and budgeting provides valuable insights for managing risk, boosting corporate performance and shareholder value and making strategic decisions. Using a business model as the basis of the planning process enables the development of: charts of accounts; time divided by years/quarters/months; version control to store actuals/budgets/forecasts and other important data segments, which can be used to create the plans. Organisations should look for planning solutions capable of delivering flexible business models that are mapped to their unique business requirements.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM

How technology can help you with IFRS adoption

Posted by Rick Yvanovich on

In our view, companies are best served when they take an integrated approach to build an IFRS framework. Toward that end, they need a fully integrated solution ideal for supporting the IFRS adoption. A key element is the ability of enterprise applications to work in conjunction with financial management ones to meet a wide range of accounting requirements and processes mandated by the International Financial Reporting Standards. 

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

The process for building IFRS framework

Posted by Rick Yvanovich on

Adopting IFRS alongside VAS requires technical, strategic, and operational changes. There also will be an unavoidable impact on information technology (IT) systems, as companies change the way they manage and report on numerous business activities. Hence, companies should employ a methodical approach when building the IFRS framework.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

The major differences between IFRS accounting and VAS accounting

Posted by Rick Yvanovich on

Vietnam’s Ministry of Finance has been working to converge IFRS accounting and VAS accounting, with a goal of eliminating most, if not all, of the key differences by the time the Government allows or mandates the use of the International Financial Reporting Standards. Progress has been made, but significant differences remain in inventory costing, impairment write downs, contingencies management, debt covenant management, and revenue recognition.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

What International Financial Reporting Standards entail

Posted by Rick Yvanovich on

The International Financial Reporting Standards establish 34 new accounting policies that in general affect how companies value their assets and report on their business performance. The regulation creates new, higher standards for transparency in business operations by requiring more detailed presentation of balance sheets and cash flow.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

IFRS: Financial reporting standards of the future

Posted by Rick Yvanovich on

The International Financial Reporting Standards are the result of work begun in the early 1970s by the International Accounting Standards Committee (IASC). The slow evolution of IFRS adoption was accelerated in 2002 when the European Union Parliament designated IFRS as the accounting standard for publicly traded European Union companies beginning on January 1, 2005.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Three Things You Need to Know About XBRL

Posted by Cuong Nguyen on

Spring is not too far away, and with the change of seasons comes a change in the financial reporting requirements. XBRL (eXtensible Business Reporting Language) mandates go into effect April 13, when the SEC (US Securities and Exchange Commission) will require the 500 largest public companies to file XBRL-tagged versions of their financial results. By 2013, all public companies which use International Financial Reporting Standards (IFRS) will also be submitting their financial returns to the SEC using XBRL.

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Topics: Infor CPM, Financial consolidation, planning and reporting, Financial Software Vietnam, Financial Accounting Management Software

Gaining speed with a state of the art budgeting tool

Posted by Nhi Huynh on

In today’s complex and rapidly changing business climate, there is an increased demand for top management to better observe, measure, and manage their business. Planning and budgeting plays an important role in corporate performance management. However, in many organisations, planning and budgeting is not seen as adding value since:

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Topics: Planning and Budgeting, Infor10, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Cause-effect visibility from planning & budgeting solutions

Posted by Thanh Nguyen on

You have a plan. You have a budget that supports it. Only one thing is missing: a way to easily view and analyse the cause-and-effect relationships between all the plan elements and the resources that support them. Not having this is a common complaint among senior executives who are responsible for managing and reporting on the execution of corporate strategy.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

Cause-effect visibility from planning & budgeting solutions

Posted by Thuy Tien Tran on

You have a plan. You have a budget that supports it. Only one thing is missing: a way to easily view and analyse the cause-and-effect relationships between all the plan elements and the resources that support them. Not having this is a common complaint among senior executives who are responsible for managing and reporting on the execution of corporate strategy.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM, Financial consolidation, planning and reporting

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 Rick Yvanovich
 /Founder & CEO/

With TRG International Blogs, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.

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