module iKO-200
conversion from Greek GAAP to IFRS / IAS
Internal tool · IFRS / IAS
module iKO-200 — conversion from Greek GAAP to IFRS / IAS
For businesses preparing financial statements under IFRS / IAS, we have developed iKO-200: a specialized conversion platform from Greek GAAP to International Financial Reporting Standards. It operates in an Excel environment, across multiple files and worksheets per file. It covers all year-end tasks and adapts to the needs of each project — from adjustment entries to complete IFRS financial statements and tax agreements.
- Complete adjustment entries (adjustments) from Greek GAAP to IFRS, trial balance, balance sheet, operating statement, and detailed expense allocation sheets.
- Complete financial statements in IFRS: balance sheet, income statement, statement of changes in equity, cash flows — and supporting statements reconciling income and net position from Greek GAAP to IFRS.
- Tax tasks: income tax return, tax adjustments, reconciliation table of tax and accounting bases, reconciliation table of tax with analysis of deferred and current tax.
- Detailed fixed asset register in Greek GAAP and IFRS (itemized by asset), with revaluations, impairments, disposals, IFRS depreciation, and change tables — fully automated and controlled.
- Register of financial leases with amortization schedules (effective interest method) and consolidated analysis according to the current leasing framework.
- Detailed sheets of long-term loans, weighted average cost of borrowing, and amortization schedules in Greek GAAP and IFRS (Standards 32–39 / IFRS 7).
- Calculations of customer/supplier prepayments and provisions for bad debts, with financial cost and relevant information.
What is achieved
The platform is not just a spreadsheet; it is a working methodology with full numerical agreement, documentation, and scenario capability before finalization.
- Detailed documentation of conversion combined with a closing documentation folder according to auditing standards.
- Dynamic modeling of alternative accounting and tax options — with agreed balance sheet and full documentation.
- Minimization of numerical and optional errors.
- Reduction of the time required to convert financial statements from Greek GAAP to IFRS / IAS.
