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Yes! Show me how to increase efficiency with cloud-based disclosure checklists.
Cloud-Based Financial Disclosure Checklist
CCH Axcess AutoCheck addresses the constant changes to financial reporting standards by regulatory agencies, helping ensure organizations or accounting firms correctly follow all applicable standards when preparing a set of financial statements. This cloud-based solution presents a list of the required disclosures, tailored specifically for the entity, and enables greater collaboration by allowing multi-user access to the current version of the disclosure checklists from anywhere and at any time without the need for synchronization.
Further, these automated checklists provide the disclosures required to present financial statements in accordance with accounting principles as promulgated by the FASB or IFRS Foundation, as applicable. Preparers of those financial statements can customize the disclosures to those required for a specific entity.
Creating a Customized Financial Statement Disclosure Checklist
Create the Client
From within CCH Axcess AutoCheck, the accountant creates a new client to store the disclosure checklist by entering the name of the client, beginning of year and end of year dates. Based on the reporting framework, the appropriate US GAAP, IFRS or Industry specific disclosure checklists are added to the client.
Answer Tailoring Questions
The accountant answers a series of tailoring questions that help customize the disclosure checklist to the specific financial statements being prepared. To maximize efficiency, unnecessary sections are removed and supporting tables are modified or created.
Complete the Checklist
After the checklist has been tailored, the accountant reviews the checklist and compares the required disclosures to those contained in the financial statements ensuring the financial statements are complete and accurate.
Integrated Accounting Research
CCH Axcess AutoCheck has contextual links directly to the standards and the guides available on CCH® Accounting Research Manager®. Subscribers to CCH Accounting Research Manager will also take advantage of built-in reference links to the most up-to-date research content available.
Roll Forward and Update On-the-Fly
The checklists in CCH Axcess AutoCheck can be rolled forward to the subsequent reporting periods driving unparalleled efficiency gains. The checklists are automatically updated with the latest required disclosures while preserving the rolled forward information. A notification will be displayed to alert users to new or modified disclosure requirements.
Move Forward in the Cloud: Cloud-Based Tax & Accounting Software Solutions
At the center of a future-ready tax & accounting firm is the right technology — technology that fuels firm growth through digital workflows built on a single unified platform. See how firms use best-in-class cloud solutions like CCH Axcess to harness the power of the cloud.
Learn How to Move Forward in the Cloud
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Yes! I’d like to speak to a Solutions Consultant about CCH Axcess AutoCheck.