Northern Ireland Tourist Board satisfies IFRS requirements

Northern Ireland Tourist Board satisfies IFRS requirements

Northern Ireland Tourist

RAM's software suite enables Tourist Board to speed up depreciation calculations and keep accurate record of mobile assets

Northern Ireland Tourist Board (NITB) is using capital accounting software from Real Asset Management (RAM) to improve the efficiency of its asset accounting and tracking processes in line with key audit requirements. NITB selected RAM's asset management software to significantly reduce the time consuming process of depreciation calculations as well as to improve upon its financial reporting.

NITB, a non-departmental public body, is responsible for the development, promotion and marketing of Northern Ireland as a tourist destination. It employs 120 people and incorporates a large fixed ICT network, along with a mobile network, as part of its asset base. When mobile devices are moved from one area of the business to another, it is vital that they are tracked and recorded to ensure that all assets are accounted for at all times.

Emmanuel Grieve, Senior Ledger Clerk at NITB comments, "The software provides us with an all-encompassing asset register allowing for a detailed audit trail of all our assets, which is very useful when we undergo spot checks and internal assessments. Acquisition and depreciation reports are easily produced from the system and the data obtained can then be inputted into our Sage records. The reports are incredibly user friendly and provide us with clear and concise information enabling us to effortlessly amend and update our nominal ledgers."

RAM's fixed asset software is designed to assist with legislative compliance including IFRS, MHCA and audit best practice for organisations across the public and private sectors, with features including the calculation of depreciation, revaluation reserves, standard statutory reports and the maintenance of audit trail records.

Grieve continues, "RAM's ability to fully understand our business needs has resulted in having a system that is specifically tailored to the requirements we demand. The RAM technicians are always on hand to answer any queries and the induction training procedures have proven to be priceless. The user-friendly system makes the information easily accessible and it is reassuring to know that we have advice available from the experts in the field if needed."

Commenting on the ongoing relationship with RAM, Grieve concludes, "The implementation period ran very smoothly and the staff at RAM are both friendly and very hands on, something that hasn't changed to this day. The support network that RAM put into place is outstanding and any questions or queries have always been resolved swiftly."