Ares holds IFRS seminars in northern Taiwan

To meet the needs of Taiwan-based enterprises amid the trend that Taiwan is adopting the International Financial Reporting Standards (IFRS), Ares International Corp. recently invited PricewaterhouseCoopers to jointly hold IFRS seminars in Taipei and Hsinchu, Taiwan to familiarize the enterprise with IFRS introduction and the corresponding solutions to adopt.

Joesph Chou, partner and accountant of PricewaterhouseCoopers, joined the events to offer in-depth explanation on IFRS while Ching Hua, Cheng, senior consultant with Ares, introduced the IFRS solution based on the self-developed ArgoERP system for medium-size enterprises.

Ching Lung, Lin, CIO of Ares, and Frank Lin, president of Ares, delivered welcoming speeches at the IFRS seminars held in Taipei and Hsinchu, respectively. They offered a brief review of the establishment of Ares, the ERP system upgrade for migration to the IFRS standard and Ares IFRS solution.

Joseph Chou kicked off the first session with introduction of IFRS-related rules, schedules, related departments and examples. He focused on the steps to be taken by the accounting and IT departments of the enterprise for IFRS compliance. The examples exhibited how the enterprise should follow related rules, compose corresponding policies and make adjustments.

Ares' Ching Hua, Cheng started his session with the corresponding information system for the eXtensible Business Reporting Language (XBRL). Cheng indicated the self-developed ArgoERP system allows customization and information connection access integration service of the front-end system under the IFRS migration. He also stressed that Ares can offer related ERP consultancy service and ArgoERP can comply with IFRS rules. Most important of all, ArgoERP has best practice experiences in China in terms of IFRS compliance, Cheng noted.

Starting from 2013, all companies trading on the Taiwan Stock Exchange (TSE) and Over-the-Counter (OTC) market are required to follow the IFRS standard in their financial statements. Since it takes at least 2-3 years for the companies to comply with the standard, they need to realize the scope of the impact and measures to be taken in advance. Hence, participants of the IFRS seminars showed great interests in the Ares IFRS solution.

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 nearly 30 years, Ares is a professional management information system software provider, with professional areas in product technical R&D and system integration. Ares provides products as well as total solutions for e-business, with major service fields mainly for the financial, government and enterprise sides. Ares has passed the CMMI L3 certification, has outstanding project integration ability, quality guarantee ability, development and maintenance ability and a professional consultancy team.