Value Proposition: The issue with International Financial Reporting Standards is not “understanding the definitions”; the problem is that application within the closing leads to undocumented decisions: When do I recognize revenue? How do I calculate Lease liability? What are the supporting documents for ECL? This product transforms application into a working file: Clear inputs → Measurement Workpapers → JE Log → Adjusted TB → Reviewable disclosures within the Closing Pack.

In 20 Seconds: What Will You Get?

• Runbook for applying IFRS within the closing: Data collection → Measurement → Entries → Disclosures.
• Accounting Policy Memo Templates: Ready-to-review policy templates (Prepared/Reviewed) instead of verbal policies.
• Measurement Workpapers: Measurement schedules (Revenue/Leases/ECL/Provisions/Impairment/Taxes…) that are traceable.
• JE Log + Support: IFRS entry log with References and supporting documents.
• Tie-outs: Linking outputs to TB/GL and producing a clear Adjusted TB before the financial statements.
• Disclosure Checklists: Disclosure lists managed as a Checklist (Done/NA/Pending) instead of random writing.
• Closing Pack Index: Delivery index + Version/Sign-off to finalize the version.

CTA related to outputs: Receive Workpapers + Policy Memos + JE Log + Adjusted TB Tie-outs + Disclosure Checklists + Closing Pack.

Suitable For

• Chief Accountant / Financial Controller: Standardizing processing and writing policies and establishing measurement guides within the closing.
• IFRS Conversion / Reporting: Preparing reviewable Workpapers to reduce Adjustments in external audits.
• Internal Audit / Quality Review: Testing Traceability: Measurement → Entry → TB → Disclosure.

Not Suitable For

• Those working under Public Sector Accounting Standards / Government Accounting Standards (IPSAS) and needing public sector-specific tools.
• Those looking for an “International Accounting Software” in the sense of an ERP system or wanting “International Accounting Books” as merely theoretical content.

Without the Pack / With the Pack (Brief Comparison)

Before Use: 5 Symptoms That Application is Not “Reviewable”

• Accounting decisions are made verbally (Recognition/Measurement) without a Policy memo or Owner.
• Accounts like Leases/ECL/Impairment are managed on personal sheets without Version or clear Assumptions.
• Entries resulting from IFRS are not recorded in the JE Log and there is no Link between the entry and Workpaper.
• The Tie-out between Workpapers and TB is missing, leading to discrepancies in the Adjusted TB at the last moment.
• Disclosures are written without a Checklist, turning the audit into a “request list” instead of an organized numerical review.

How to Apply International Financial Reporting Standards Practically Within the Closing?

Step 1: Preparation and Collection of Transaction Files

• Establish Adjusted TB or TB before IFRS adjustments as a baseline.
• Collect operational files by topic: Customer contracts (Revenue), Lease contracts (Leases), Asset register (FA), Customer aging (AR aging), Inventory, Loans/Financial instruments…
• Identify the “Active IFRS Topics List” for this month/year (what is relevant to you).

Step 2: Measurement + Documentation + JE Log

• Run the measurement Workpapers: Input the inputs, establish assumptions, extract results (Measurement outputs).
• Write/update a Policy memo for each topic that has changed or appeared for the first time (clear decision + reason + impact).
• Issue the resulting entries within the JE Log and link each entry to a Reference (Workpaper/Contract/Lease schedule).

Step 3: Tie-outs + Disclosures + Closing Pack

• Run Reconciliations and Tie-outs: Workpapers ↔ JE Log ↔ TB to produce an “adjusted” Adjusted TB.
• Run Disclosure checklists and prepare Notes Structure based on the topics that have been practically applied.
• Compile the Closing Pack: Workpapers + JE Log + Tie-outs + Policies + Checklists + Pack index + Sign-off.

Pack Components (Clear Inventory)

1. IFRS Application Runbook
   • Practical Purpose: Transforming “application” into fixed closing steps (Data → Measurement → JE → TB → Notes).
   • When to Use: At establishment + Team training + Before Year-End.
   • Resulting Guide: Runbook that can be attached within closing files as a methodological reference.
2. Accounting Policies Memo Templates
   • Practical Purpose: Documenting “Financial Accounting Standards” policies within the company in a ready-to-review format.
   • When to Use: When selecting or changing a policy or when entering a new transaction.
   • Resulting Guide: Policy memo (Prepared/Reviewed) + List of approved policies.
3. Revenue Workpaper (Contracts/IFRS 15-style)
   • Practical Purpose: Evidence of revenue recognition: Identifying obligations + allocation + Cut-off + Deferred/Accrued.
   • When to Use: Month-End/Year-End when there are contracts/subscriptions/services over periods.
   • Resulting Guide: Revenue schedule + Tie-out to GL + Documented adjustment entries.
4. Leases Workpaper (IFRS 16-style)
   • Practical Purpose: Calculating ROU Asset and Lease liability and depreciation/interest schedule + adjustments.
   • When to Use: Monthly or at least Year-End depending on the nature of the company.
   • Resulting Guide: Lease schedule + JE entries + Reconciliation to TB.
5. Financial Instruments Workpaper (IFRS 9-style)
   • Practical Purpose: Documenting the classification of the instrument + measurement + (if necessary) ECL/Provisioning model with reviewable outputs.
   • When to Use: Year-End or when there are material AR/Loans/Investments.
   • Resulting Guide: ECL/valuation schedule + assumptions + tie-out + JE.
6. PPE/Inventory/Provisions/Impairment Workpapers
   • Practical Purpose: Running recurring items: IAS 2/IAS 16/IAS 37/IAS 36 (Asset movements, provisions, impairment testing, inventory valuation).
   • When to Use: Month-End for some items and Year-End for heavy items (impairment/closures).
   • Resulting Guide: Roll-forward schedules + support + JE + tie-outs.
7. Tax Workpaper (IAS 12-style)
   • Practical Purpose: Documenting Deferred tax (if applicable) and linking it to temporary differences and their schedules.
   • When to Use: Primarily Year-End.
   • Resulting Guide: DTA/DTL schedule + bridge + JE + disclosure inputs.
8. JE Log + Support Index
   • Practical Purpose: Compiling IFRS entries in one log: Reference, reason for the entry, Workpaper link, Prepared/Reviewed.
   • When to Use: During the closing and before finalizing the version.
   • Resulting Guide: Reviewable JE Log + List of supporting documents for each entry.
9. Adjusted TB Tie-out + Closing Pack Index
   • Practical Purpose: Linking outputs to the financial statements: Workpapers/JE → TB → FS/Notes, with a delivery index.
   • When to Use: End of Month-End/Year-End before delivery to the auditor.
   • Resulting Guide: Tie-out report + Pack index + Sign-off confirming the approved version.

What Should Be Included in the Delivery?

• 01-Runbook (PDF/DOCX): Steps for applying IFRS within Month-End/Year-End + Method for saving evidence.
• 02-Policy Memos (DOCX): Accounting policy templates + Approval page (Prepared/Reviewed).
• 03-Workpapers (XLSX): Measurement of revenue/leases/financial instruments/ECL/assets/inventory/provisions/impairment/taxes (as needed).
• 04-JE Log (XLSX): IFRS entry log + References + Posting status in ERP (if applicable).
• 05-Reconciliations & Tie-outs: Linking workpapers to GL/TB + Revealing discrepancies and exceptions.
• 06-Adjusted TB Snapshot: TB version before/after IFRS adjustments (or linking if you have a separate TB file).
• 07-Disclosure Checklists: Disclosure lists + Status Done/NA/Pending + Required inputs for each Note.
• 08-Closing Pack Index: File index + Saving path + Naming convention + Version control.
• 09-Sign-off Sheet: Prepared/Reviewed/Approved + Date + Period scope.
• 10-Archiving Map: Proposed folder structure (Year/Month/Section) to secure the approved versions.

After Application (Two Points Only)

• Operational Outcome for the Team: Each IFRS topic has a measurement file + entry + fixed Tie-out, reducing “manual processing” and accelerating the closing as the path is clear.
• Control/Audit Outcome: Traceability: Financial statement number/disclosure ↔ Adjusted TB ↔ JE Log ↔ Workpaper ↔ Data source, with Version/Sign-off within the Closing Pack.

FAQ — Questions Before Purchase

Is this a “description” product or application tools?

It is application tools: Workpapers + Policy memos + Checklists + JE Log + Tie-outs. There is an operational explanation (Runbook) but it is not a theoretical book.

Is it an “International Accounting Software” in the sense of an ERP system?

No. It is a Pack of Excel/Docs files. You work on it using Exports from your system and then produce reviewable outputs.

Does it cover Saudi Accounting Standards?

It is aimed at practical application of IFRS. If you operate under Saudi Accounting Standards or local requirements, the templates include a field to document “reference/local requirement” and link the decision, but it is not a substitute for your regulatory requirements.

Is it suitable for the public sector or government accounting standards?

No, as a core product. The public sector often relies on Public Sector Accounting Standards/Government Accounting Standards (IPSAS) which have a different approach.

Does it relate to FASB or US GAAP?

No. The Financial Accounting Standards Board FASB pertains to US GAAP. This product is dedicated to IFRS/IAS (International Reporting Standards) and its application within the closing.

What is the minimum data required to start?

TB/GL + basic transaction files by topic (e.g., Lease schedule for leases, Contracts for revenue, AR aging for financial instruments/ECL, FA register for assets).

Is it suitable for Month-End or Year-End only?

It is suitable for both. Some workpapers are heavy and are typically managed at Year-End (like impairment/DT), but the JE log structure, documentation, and delivery are suitable monthly.

Does it include how to obtain IFRS certification?

It does not grant certification. However, it is useful for daily/annual application. Certification typically requires a training program and examination from an educational institution.

Does it produce ready financial statements?

No. It produces application and documentation files that help you generate accurate financial statements from TB, but it is not a ready FS template for publication.

Ready to Transform IFRS into Workpapers + JE Log Instead of “Variable Interpretations”?

Outputs: Runbook + Policy Memos + Workpapers + JE Log + Tie-outs + Disclosure Checklists + Closing Pack Index.