SYSPRO, a provider of visionary ERP for the manufacturing pragmatist, announced today that its software enables companies to comply with the International Financial Reporting Standards (IFRS), the adoption of which will be phased into the USA between 2010 and 2014.

The differences between US GAAP (Generally Accepted Accounting Principles) and IFRS have been narrowing since 2002, due to the efforts of the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB).

International Financial Reporting Standardsare standards, interpretations and the framework for the preparation and presentation of financial statements adopted by the IASB whose goal it is to ensure that financial information is presented and understood in a uniform fashion, globally.

A key requirement of IFRS is to use accrual-based accounting, a cornerstone of revenue recognition, and the method SYSPRO has always assumed, making the transition to IFRS that much easier.

SYSPRO said it has studied IFRS extensively to ensure that the tool set inherent in the company's ERP (Enterprise Resource Planning Software) enables users of SYSPRO software to adhere to the new standards, as required.

According to Joey Benadretti, president SYSPRO USA, "SYSPRO software is used globally, and, therefore, the company strives to incorporate in its offering the toolsets and functionalities that enable both domestic and international operations to conform to the standards dictated by individual company policies. Adherence to international standards is a good business practice."

SYSPRO's more thoughtful approach to adopting new technology also reflects the desires of its buyers who are driven by business needs and not by the latest headlines. This exemplifies SYSPRO's ongoing strategy of helping to simplify the success of its customers. SYSPRO calls its buyer landscape "PragmaVision,"^TM consisting of pragmatic, visionary ERP executives that are driven by a desire for smart, but aggressive market growth.

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