What this article covers: How to configure Accounting Standards in BrizoSystem — enabling standards, setting a default, and how the configuration affects journal entries, elimination entries, and reports.
Accounting Standards configuration lets you define which standards apply to your consolidated environment. Once enabled, users can tag journal entries and elimination entries with a standard — ensuring entries are correctly classified for statutory reporting, internal policy, or multi-jurisdiction requirements.
? Note: Accounting Standards configuration is available at the consolidated group level only. It is not available at individual entity level.
1. Accessing the Configuration
1Go to Organisation Settings → Organisation DetailsMake sure the consolidated group is selected in the top-left organisation selector — Accounting Standards is not available at entity level.
2Scroll to the Accounting Standards panelThe configuration panel is on the Organisation Details page. It has two sections: Enabled Standards and Default Standard.
2. Enabled Standards
Select which accounting standards your organisation will use. Only enabled standards will appear as tagging options when users post journal entries or elimination entries.
Standard Typically used by
Local GAAP Organisations reporting under their country's local accounting rules
IFRS Organisations reporting under International Financial Reporting Standards — common for listed entities and multinationals
US GAAP US-based entities or those with US investors or lenders requiring US GAAP compliance
UK GAAP UK entities reporting under FRS 102 or other UK GAAP frameworks
You can enable one or multiple standards. Standards not enabled appear greyed out and cannot be selected when tagging entries.
3. Default Standard
The Default Standard defines which accounting standard is applied automatically across dashboards and reports when no specific override is selected. It must be chosen from the list of enabled standards — standards that are not enabled cannot be set as the default.
? Example: If Local GAAP and IFRS are both enabled, you might set Local GAAP as the default for day-to-day reporting and use IFRS tags on specific journal entries that require IFRS treatment — such as IFRS 16 lease adjustments.
4. Saving Changes
Button What it does
Save Applies the selected enabled standards and sets the default. Changes take effect immediately.
Cancel Discards all changes and reverts to the existing configuration.
5. How This Affects Users
Once configured, Accounting Standards affect the platform in three ways:
Where Effect
Journal Entries Users can tag each entry with an enabled standard — for example, marking an IFRS 16 lease adjustment as IFRS. See Posting Journal Adjustments. Elimination Entries Users can tag elimination entries with an enabled standard to classify them for specific reporting frameworks.
Reports & Dashboards The default standard is applied automatically. Users can filter reports by standard to view results under a specific accounting framework.
? Tip: If your group only reports under one standard, enable that standard and set it as the default. Multi-standard configuration is most valuable when entities in different jurisdictions need to be reported under different frameworks, or when preparing dual-standard statutory accounts.