ReadyRatios Software Features
ReadyRatios is a software (web service, SaaS) designed to perform an intellectual analysis of a company’s financial position based on data from its financial statements.
The main feature of the system is that individuals should not participate in the analysis. All you need to do is enter the data from the financial statements (prepared in accordance with IFRS or U.S. GAAP) and receive the results of the analysis, which do not differ from an analysis performed by a professional analyst!
Our software features:
No Knowledge of Financial Analysis Required
Our main principle is "Let the computer think! Computers should do the work, not people! That is why ReadyRatios takes care of all analytical tasks from the moment a user enters data until the analytical report is ready. We have been working on mimicking artificial intelligence in financial software for over 15 years. Below are examples of reports generated by our software:
Report Input statements Language Comprehensive Financial Analysis
This report includes all key financial ratios and analytical conclusions that can be calculated using the company's IFRS financial statements.
IFRS Comprehensive Financial Analysis
This report is the same as the previous one, but is generated using input data from US GAAP financial statements.
US GAAP Certificate of Financial State of a Company
Certificate that proves the financial status of your company.
example QuickBooks Financial Analysis
You can import accounting data for financial analysis directly from your QuickBooks account.
QuickBooks (US GAAP)
Easy to Use Web Interface
The program is based on web technologies and can be opened using your favorite browser. It is supported by the following browsers: Internet Explorer 9+, Firefox 3+, Google Chrome 7+ and Opera 9+.
The Program Provides the User with a Complete Report
Our program is designed not only to calculate over 40 coefficients and ratios, but also to describe the calculated results, draw conclusions and give an opinion on the financial situation of a company. The program uses unique scoring methods for the analysis.
As a result, the given report is complete and does not differ from the report of a professional analyst. The report includes all ratios that can be calculated based on the data of two main forms of financial reporting: the balance sheet and the income statement. The full report is about 15 pages long, see the example.
Currently, the program works with data from financial statements prepared according to IFRS or US GAAP.
Multiple Choice Conditional Text
Multiple choice conditional texts make each report unique. Report texts are never repeated, even if the reports are based on the same data (the probability of repetition is close to zero).
No Special Training Required
The ReadyRatios software is very easy to use, so no training is required.
Analyzing Reports in Dynamics for Multiple Periods
You can get an analysis report for a single reporting period as well as for multiple periods (annual, semi-annual, quarterly, or monthly).
Flexible Approach to Table Creation
You no longer need to glue together pages of tables when analyzing data over many years. The program has a feature that reduces the size of large tables without significant loss of information.
Instead of creating full tables, as in the example below: Year 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Ratio … … … … … … … … … … … It can be reduced in the following way: Year 2009 Average for 2010—2017 2018 2019 Ratio … … … …
This maintains a balance between the width of the table, which is good for printing on standard paper, and its informational value.
Numbers are Marked Out with Colors
Colors are used not only to highlight positive and negative rate values, but also to indicate the qualitative assessment of rates (good/bad values).
Easy to Enter Initial Data, Including Direct Import from QuickBooks
Once the data is entered into the form, it appears in a financial report. There is no need for preliminary or additional calculations. We use the official format of reports, which is approved by standards and IFRS (U.S. GAAP) taxonomy. This formatting makes it possible to analyze any report prepared according to IFRS or U.S. GAAP. Data can be entered manually or imported from XBRL files (IFRS or U.S. GAAP taxonomy format).
You can also import accounting data from QuickBooks. After connecting to your QuickBooks account, you can automatically build financial statements and perform analysis. Multiple company imports are also supported.
Information can be Stored in the Database
The user can save the initial data and prepared reports both on his computer and on the ReadyRatios server. Using the software without storing data on any servers gives you ultimate privacy.
Great Possibilities for Professionals
If you want to customize the parameters of your analysis, you can easily:
- Modify any formula or add your own
- Change the qualitative properties of the rate (i.e. the range of satisfactory and unsatisfactory values), including those for different industries
- Define a report template (add or remove desirable or undesirable rates)
The program takes into account the settings made by the user, but at the same time the analysis remains completely autonomous.
To use this feature, the user should log in to the ReadyRatios website.
Certificate of Financial State
Anyone can obtain a prestigious certificate, protected from counterfeiting, which certifies the financial standing of the company (from AAA to C) – see example).
User Report Settings
The user can limit the report and leave only the necessary sections, select the parameters for displaying tables and text, and set the level of criticism. Setting the level of criticism can eliminate critical remarks and comments in the report text (if the financial situation of the company is poor). At the same time, informative values and conclusions are not affected.
IFRS Disclosure Guide (DG) Features
100% compliant with IFRS requirements
IFRS DG was created from the official IASB taxonomy and comprises all IFRS disclosure requirements. In other words, IFRS DG is a human-friendly view of an ideal IFRS statement issued by IASB in XBRL format (taxonomy).
Human Adapted View
IFRS taxonomy is a very useful source of information, but it is useless for non-IT specialists. We present the taxonomy in a familiar financial document format. It is easy to view, easy to understand and easy to use!
Free for Everyone
The IFRS Disclosure Guide is our contribution to improving IFRS reporting worldwide. We understand the importance of quality IFRS reporting and present this essential tool.
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