CODA Strengthens Support for IFRS-Compliant Consolidation

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• CODA 2control Consolidation V4.0 released • Full support for IFRS-compliant consolidation procedures • Dual GAAP and IFRS consolidation to meet transition requirements

CODA Group, the finance software specialist, today released V4.0 of its consolidation software which includes enhancements to provide customers with more flexibility to meet International Financial Reporting Standards (IFRS).

CODA 2control Consolidation (formerly known as OCRA) is designed to help multi-company and international organisations deliver group reporting and accounting more quickly, simply and consistently. It handles the process of reconciling and combining the accounts from across a group of companies (and their various ERP, finance and other business systems), into a single "consolidated" group for statutory and management reporting.

"The new release delivers a whole range of options for IFRS-compliant financial control and statutory group accounting," said Debbie Ashton, product director at CODA. "IFRS compliance provides business with the opportunity to undertake an improvement initiative to reduce risk and increase efficiency over the financial reporting process. We believe our consolidation software will help to address the extensive disclosures required under IFRS for the annual report and accounts."

Version 4.0 is the latest version of the software and enables dual reporting under GAAP and IFRS to meet transition requirements. It includes significant changes and new features enabling improved support for IFRS-compliant consolidation procedures, including:

  • Improved currency translation and translation difference analysis
  • Best practice-based IFRS-compliant chart of accounts, minority and goodwill handling
  • Enhanced reporting options including drill-down in reports to the detail behind the numbers

ABOUT CODA
CODA creates, markets and implements a comprehensive range of software systems designed specifically to meet the needs of Financial Directors and Finance Departments. These include financial management systems, analysis applications, and business process management and control software to implement compliance solutions. Its service oriented architecture also makes CODA software easy for clients and other vendors to integrate it with their business applications.

CODA was founded in 1979, has around 600 employees working at 18 offices in 14 countries. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organizations in over 100 countries in a variety of markets and within both public and commercial sectors.

CODA is part of Unit 4 Agresso NV, which is headquartered in the Netherlands and listed on the Dutch stock exchange. The Unit 4 Agresso group is an international developer and distributor of integrated business information and management systems and security solutions, providing secure e-business solutions to its customers. It has around 3300 staff in 19 countries and 5200 client organisations.

For more information, please visit: http://www.coda.com, or call:

Emma Hoyle
Group PR Manager
CODA Group
+44 1423 537 977
emma.hoyle @ coda.com

Financial software for mid to large organisations. Find out more online: http://www.coda-financials.co.uk

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Emma Hoyle
CODA
+44 1423 537 977
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