AkauntingHub is not a retrofit — IFRS compliance is embedded in every layer of the system, from the chart of accounts to financial statement generation.
International Financial Reporting Standards (IFRS) are a set of accounting rules issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They provide a globally recognized framework for preparing financial statements, ensuring transparency, comparability, and accountability across international borders.
Required or permitted in over 140 countries and jurisdictions worldwide
Enables comparison of financial statements across companies and borders
Increases transparency for investors, regulators, and stakeholders
Reduces the cost of capital by lowering information asymmetry
Facilitates cross-border mergers, acquisitions, and investment decisions
AkauntingHub is not a retrofit — IFRS compliance is embedded in every layer of the system, from the chart of accounts to financial statement generation.
Pre-built templates following IFRS-SMB classification: assets, liabilities, equity, revenue, and expenses with proper sub-categorization and contra accounts.
Every transaction flows through the GL as a balanced journal entry. Revenue is recognized when earned, expenses when incurred — not when cash changes hands.
Configurable Income Statement and Balance Sheet definitions with section hierarchies, account mappings, and subtotal aggregation following IFRS presentation requirements.
Base currency locking after first posting, exchange rate tracking with source attribution, and automatic unrealized FX gain/loss recognition per IAS 21.
Database-enforced period boundaries with no-overlap constraints, close/lock workflows, and year-end closing journals that transfer income to retained earnings.
FIFO and weighted-average cost methods with perpetual valuation ledger, movement-level GL integration, and real-time inventory valuation reporting.
How each IFRS requirement is enforced — from database constraints to application logic.
Every financial event posts through JournalService → PostingValidationPipeline. The BalanceRule enforces SUM(debit_base) == SUM(credit_base) with a minimum of one non-zero line — no unbalanced entry can be posted.
JournalStateMachine makes voided and reversed terminal states — posted entries cannot be edited. Corrections require a reversal journal (a new posted entry with swapped DR/CR), preserving the complete audit trail.
A database trigger (trg_journals_period_check) prevents posting to closed or locked periods. FiscalPeriodService::unlock() requires a mandatory override reason (minimum 10 characters) and records who and when the override occurred.
ExchangeRateService stores historical rates; fx_rate and fx_source are recorded on every journal. base_currency_code is immutable once any posted, voided, or reversed journal exists — enforced by TenantSetting::baseCurrencyLocked().
YearEndCloseService::close() posts a closing journal (DR Revenue / CR Retained Earnings) and locks all periods. preflight() verifies readiness — open periods, unposted journals — before any database changes are made.
Two seeded templates (ifrs-smb-general and ifrs-smb-retail) are structured per IFRS account classifications. Statement mappings enforce Income Statement, Balance Sheet, and Cash Flow presentation requirements.
AuditService logs every actor, IP address, user-agent, and before/after JSONB snapshots with sensitive field masking. CorrelationContext ties every request to a request_id that is traceable across all system logs.
AkauntingHub is designed as IFRS-ready infrastructure for SMBs — not a full IFRS disclosure package.
No IFRS 9 (financial instruments fair value) or IFRS 16 (leases) modules
No consolidation engine for multi-entity reporting
COA templates are scoped to SMB-level complexity
Explore a fully-seeded demo environment with sample customers, vendors, invoices, bills, inventory, and posted journals. Pick a role and start exploring — no signup required.