Set up IFRS & local GAAP in parallel
Businesses that report under both their local GAAP and the international (IFRS) standards can run them in parallel on Apus — one set of transactions, two consistent ledgers.
Why parallel ledgers
Rather than keeping two disconnected books, Apus posts each transaction once and derives both the local-GAAP and IFRS views from the same data layer — so they never drift out of sync.
Configure the standards
- Go to Finance → Accounting standards.
- Enable your local GAAP and IFRS as parallel ledgers.
- Set the reporting currency and fiscal calendar for each.
- Assign which standard is primary for statutory filing.
Map differences
Where treatments differ (e.g. depreciation, revenue recognition), define the adjustment rules once. Apus applies them automatically to the secondary ledger so each statement follows its own standard.
Report
Generate the balance sheet, P&L and cash-flow under either standard from the same period — useful for both local filing and group consolidation.
Define standard-difference rules up front; it keeps both ledgers reconciled automatically at close.