Accounting Standards

Accounting standards designate the accounting policies that apply to companies and accounting rules. Examples of accounting standards include Generally Accepted Accounting Principles (GAAP), International Financial Reporting Standards (IFRS), and local statutory requirements. On the Companies page or the Accounting Rules page, you can associate the company or the accounting rule with an accounting standard. Before you can create a company record, you must create at least one accounting standard because you cannot create a company record without associating it with an accounting standard.

Create an Accounting Standard

1. From the Accounting Standards page, click New.
2. On the New Accounting Standard page that is displayed, complete the appropriate fields.

   To learn more about the Accounting Standard fields, see Accounting Standard Field Descriptions.

3. Click Save.

Accounting Standard Field Descriptions

The following table lists the fields that Kenandy provides. Your system administrator selects the fields that are displayed on your user interface.

Accounting Standard Page

Fields	Description
Accounting Standard	The name of the accounting standard.
External Id	An external ID that is used for data loading.

See Also

• Companies
• Accounting Rules

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Version: Spring 2017