EMPRO ensures efficient use of your time by accurately and reliably calculating the technical processes that companies may encounter in Inflation Accounting applications, within the framework of the Tax Procedure Law and International Financial Reporting Standards (IFRS).
12-2023 CPI
EMPRO was developed by auditors to check inflation accounting calculations across different software platforms, and this flexibility makes it perfect for users who need to perform inflation accounting in their own companies.
EMPRO calculates deferred tax effects arising from indexation differences determined by the user under Turkish Accounting Standards (TAS) applicable in economies deemed to have high inflation, according to Financial Reporting Standard TAS 29.
EMPRO enables the correction and classification of accounting slips that arise as a result of TFRS financial accounts to be uploaded individually or collectively and has the capability to convert statements produced according to VUK to TFRS compliant financial statements.
EMPRO provides you with the details of non-monetary items that require indexing in a fast, easy-to-read Excel report format.
EMPRO’s reports present indexation differences for the opening and current period separately and apply indexation differences automatically to the relevant line items in the accounts.
EMPRO, valuation methods related to inventory play a crucial role in the accurate and realistic preparation of businesses’ financial statements. Methods available with EMPRO include:
Simple Average
Inventory Turnover Rate
Actual Cost
Moving Weighted Average
EMPRO calculates companies’ fixed assets on your behalf in accordance with Tax Procedure Law (VUK) provisions based on the activation date, including various depreciation methods. Additionally, it ensures the reindexing of all fixed assets, calculated with continuous and temporary revaluation (Temporary 31-32, Supplementary 298/Ç), by purging them from inflation adjustment.
EMPRO manages the end-to-end process, from cleansing, transforming, and loading data in accordance with Tax Procedure Law (VUK), to constructing a financial reporting interface tailored to the business needs for reporting. This process includes the requirements of IFRS 29 that are the subject of the report and ensures accurate positioning of visuals in the report.
EMPRO provides users with the option to independently select the status of all equity items against inflation adjustment, regardless of the chart of accounts, and does not index the following accounts:
Before applying TAS 29 in their financial statements, there are some preliminary steps that companies operating in a highly inflationary economies need to take:
