Balance sheet not formated according to IFRS and IAS (Page 1 of 2)

more over the above mentioned information , in the part of owner's equity the "calculated return" which it must be named "Net Income " or " Net Profit or Loss " must be in our case here negative figure not positive , I thing all the signs of section of owner's equity must be reversed

Thank you Joe , but the balance sheet or income statement will not differ from one country to another , it must be the same shape because those reports internationally applied according to international accounting standards and international financial reporting standard
Please check
IAS No.1

Best Regards

The correct sublevel presentation should now be working in reports COA, Monthly Breakdown, Balance Sheet and P&L Statements.
CVS Main (2.1.2) is updated. Look in CHANGELOG.txt for affected files.

/Joe

Strange, I have just looked at it at sourceforge.net. Release 1.194 of Main trunk is dated 26.05.2009. The files were uploaded yesterday.

Regarding the minus sign it is implemented in 2.2 unstable, due to we had to make an option in the classes on how to present the sign in BS and PL.

The 2.1 and 2.2 are not merged yet. The latest merge into 2.2 was with the release 2.1.2.
The sign setup can then be set as default in the COA when creating new companies.
We are planning to skip a release 2.1.3 soon, where the sublevel presentation will work.

/Joe

thank you Joe , really you are doing your best

but still this problem of reversed sign in balance sheet , i think this problem is easy to solve , it is a matter of changing sign "I'm not developer but i guess", if you can solve this in the current version and update the download file in sourceforge with all the changes done we will appreciate this .

thanks again to you

I had a look to version 2.2 and I had a look in the new field or compobox that you add , and let me just share with you my small knowledge about the financial solutions .
I found this field that you add little bit strange and will not give the user the flexibility expected and more confusion will be for sure , I know that you as a developer you need to reach to your target which is in our case change the sign of liabilities and capital and the profit and loss but also if we have to achieve our goal we have use a logical way

actually I'm not familiar with php and mysql , but I have some knowledge in SQL server before 8 years and now I'm working as financial controller so from my experience I can tell you that the best way is to include a list field consists of three options with a title of "Class Type"
1- Assets
2- Liabilities
3- Owners Equities

the profit and loss will be positive for profit and negative for loss as usual and will be programmed to be added after the classes with a type of owners equities

the formula of report must be " Assets = Liabilities + Owner Equity (Capital) + Net Profit - Net loss "

if you will apply what I explain you will get standard balance sheet that there is no two accountants will disagree about .

in the future and as an effort to enrich the accounting practise using FrontAccounting , our forum in [url]www.infotechaccountants.com/forums[url/] , which include more than 56000 membership of Arab accountants and professors will help in designing the cash flow statement in the FrontAccounting according to international financial reporting standards and international accounting standards as a gift to FrontAccounting beside our gift of translating FrontAccounting into Arabic

for the future as God will and for the purposes of cash flow statement you will need to add more fields in classes and groups and accounts to obtain the cash flow statement , we will discuss this later which we hope to be included in version 3 series .

more over this also I think FrontAccounting need to attract more experts in financial accounting and auditing to give the correct advice about the critical scientific issues related to the outputs of FrontAccounting

Thank you Joe

Great I do agree with you in this five class types , I think it will give you more programmable capabilities to control the output .

for class type no. 5 make it expense not cost

Best regards

you are right , and maybe we can use it in the future

for that minor manual correction I think that it deserve

actually I didn't understand what you will do for the release 2.1.3 , do you mean that all these changes related to the class type field and sublevel reporting will be in the next minor version 2.1.3 ?

in the other hand I recommend to include the class type field and sublevel reporting in version 2.1.3 and i hope we can start concentrate in the output strengthen by adding cash flow statement , then ABC costing methods , then give the different option to the user to chose from costing methods FIFO or LIFO or Average Method
later on we can also concentrate in manufacturing to get into depth of modern cost accounting , then we have to design our HRM , CRM , SCM

a lot of things we are dreaming with and we hope more success for this solution 

Best regards

I think that as the balance sheet report is one of the features included in the last version 2.1.2 I recommend to make the changes for the class types and the sublevels and all the bugs in version 2.1.3 , because if we are going to start in version 2.2 we have to include some real changes on this version which is cash flow statement reporting and more analytical reports

what I need to pay your attention to is version 2.1.3 must include the correction of balance sheet and sublevels reporting because those changes should be exist in the old versions of that solution

I hope we can correct the exist outputs in version 2.1.3 and start real changes from version 2.2 to include cash flow statement , I'll supply to you the mathematical formula for it to help you design it and believe me this changes will make a very big difference between frontaccounting and weberp which is similar to your solution and it will be an important milestone in the road of developing frontaccounting   

also from morrow I'll will concentrate in feeding a demo data in the current version with the new developed chart of accounts to include it in the new 2.1.3

Best Regards

I am not sure if you understood me right. The changes we have made to 2.1.2 in the last CVS in of course included in 2.1.3. But the change of class type will implement a minor correction of the class table structure and therefore has to be made in 2.2. So we will have to wait with this implementation. But the 2.1.3 will work with the new sublevel change.
If you want the new COA to be included in 2.1.3, I will have to get the one with demo data tomorrow, because this is the planning date for shipping of 2.1.3. It will take me some hours to make them ready for including, but it could be donw. I was planning to wait to 2.2 with this includes, but nevertheless we can do it in 2.1.3.

/Joe

One more thing I have to ask, if it is a role that no change in the database in any minor version why you are not going to issue the new version 2.2 include the class type ?
And also what is the new thing that you intend to include in 2.2?
Best regards

ok you can delay 2.1.3 for a week till I'll finish the demo data for new COA

Best Regards