News article

Ares hosts IFRS workshop to share information system solution

Ares International Corp. recently held "ArgoERP IFRS solution workshop" for system demonstration and offering multiple information system alternatives for Taiwan-based enterprises with stocks traded on the Taiwan Stock Exchange (TSE).

Starting from 2013, all publicly-traded companies in Taiwan are required to adopt the International Financial Reporting Standards (IFRS) officially, while parallel reports featuring IFRS and ROC GAAP (Generally Accepted Accounting Principles) accounting standards should be presented in 2012.

Frank Lin, president of Ares, delivered the welcoming speech. Link indicated that Taiwan-based enterprises have received significant amount of information about the information system adjustments for IFRS. Starting from 2011, Taiwan-based public companies will need simulation tools and parallel reports. For the upcoming changes, the enterprises need an ERP accounting system that can offer IFRS simulative calculation functions and various alternatives.

Ching Hua, Cheng, senior consultant of Ares, presented details of the technical aspect of Ares IFRS solution alternatives. Besides offering IFRS information system solution and demonstration, Cheng highlighted the proprietary IFRS simulator, displaying the calculation results following the principles of multiple ledgers, companies, currencies and accounting principles. Therefore, the enterprise can adopt the adjustment method and tool that are most effective and practical for itself. Cheng demonstrated the actual system procedure for IFRS information system adjustments, sharing how Ares can assist enterprises to adopt the optimal alternative, offering parallel-report solution and satisfying information requirement after conversion to IFRS with system demonstration.

Dean Tsai, sales manager of Ares, elaborating on the IFRS alternatives of Ares. For various requirements of the enterprise, Ares provides ERP system conversion, heterogeneous ERP system connection and financial system adoption for various requirements. Tsai explained the advantages and disadvantages of each alternative, stressing that Ares ArgoERP IFRS solution has international enterprise group as its best practice, is the only solution that is acknowledged by the Taiwan government and can comply with heterogeneous ERP systems. Most importantly, Ares is the only Taiwan-based system integrator that can offer on-site demonstration for IFRS information system.

Ares IFRS simulator can assist the enterprise to find the most suitable accounting standard to adopt, saving labor costs, speeding up operations and reducing adjustment scale and errors. With Ares IFRS solution, the enterprise can lower impacts on its operations and ultimately improve competitiveness.

With experiences of acknowledgement from the government, Ares provided complete presentation and demonstration at the workshop while offering various alternatives; therefore, participants were keen on learning more about the solutions and had heated discussions after the workshop ended.

ArgoERP IFRS solution introduction:

Introduction of ArgoERP

ArgoERP can satisfy the multi-business and multi-product operational strategies of the enterprise. Major customers of ArgoERP include Advanced Optoelectronic Technology (AOT), Inc., Amkor Technology, Inc., AOpen Inc., CAREMED SUPPLY, INC., China Engine Corporation, China Ryoden Co., Ltd, DaimlerChrysler AG. Taiwan, Famtech Inc., HannStar Display and Hitachi Taiwan.

Introduction of Ares

Ares International Corp. is the first Taiwan-based software company to be listed on the Taiwan Stock Exchange (TSE). Established for 30 years, Ares is a professional management information system software provider, with expertise in product R&D and system integration. Ares provides products and total solutions for e-enterprise, with service areas covering the financial, government and enterprise segments. Ares has received CMMI L3 certification, has outstanding project integration ability, quality guarantee ability, development and maintenance ability and the most complete professional consultancy team.