IFRS Consolidation in Charisma ERP — How to Correctly Prepare Reporting (2026)
For groups with IFRS reporting requirements (mandatory at €50m assets or stock exchange listing). RAS vs IFRS differences, adjustments, eliminations, currency conversion. Steps in Charisma.
Bogdan Minoiu — Founder Azuvio · 2026-06-08 · 9 min · ERP & Operations
Who Reports Under IFRS in Romania
According to OMF 2844/2016: groups with assets > €50m, companies listed on the BVB (Bucharest Stock Exchange), and branches of EU-headquartered groups that report under IFRS. Others follow RAS (Romanian Accounting Standards - OMFP 1802/2014).
Key Differences: RAS vs IFRS
1. Fixed Assets: RAS = historical cost + optional revaluation. IFRS = cost or fair value (IAS 16, IAS 40).
2. Depreciation: RAS follows the statutory Catalog of useful lives. IFRS is based on actual economic life.
3. Leasing: RAS (post-2020) treats leasing as asset + liability. IFRS 16 is similar but with specific nuances.
4. Provisions: RAS is conservative. IFRS evaluates at discounted present value.
5. Revenue Recognition: RAS occurs at delivery. IFRS 15 follows 5 steps (contract → performance obligation → price → allocation → recognition).
6. Financial Instruments: IFRS 9 — classification + measurement (amortised cost / fair value).
How Charisma Handles IFRS
Charisma allows for dual ledger accounting: RAS and IFRS in parallel, or RAS-only with manual adjustments during reporting.
Dual Ledger Setup:
1. Dual Chart of Accounts (parallel RAS + IFRS accounts)
2. Automatic generation rules — every RAS document generates an IFRS document with adjustments
3. Dedicated adjustment accounts (revaluation differences, impairment, etc.)
Reporting Adjustments Setup:
ERP holds only RAS data
At reporting time, Excel export + manual adjustments are applied (more cost-effective, higher error risk)
Group Consolidation Eliminations
Intercompany Eliminations:
Intra-group sales/purchases
Intra-group customer/vendor balances
Intra-group dividends
Unrealised profit in inventory (seller's margin at the buyer's end)
Currency Conversion:
Average rate for P&L
Closing rate for the balance sheet
Differences recorded in "Reserves — currency translation"
Charisma IFRS Limitations
For very large groups (15+ multi-country companies), the Charisma IFRS module may not cover all complex scenarios — in such cases, dedicated consolidation tools (Tagetik, OneStream) are used on top of Charisma.
Smart Layer for Consolidation
The Azuvio Smart Layer can orchestrate: Nightly ETL from N Charisma instances → IFRS transformations → consolidation → push to Power BI / Excel reporting. Cost: €15-30k setup + €8k/year, vs Tagetik (€200k+).
Conclusion
IFRS in Charisma is feasible for medium-sized groups. Accounting discipline + clear mapping rules = accurate reporting. For large groups, a Smart Layer or dedicated consolidation tools complete the architecture.