Taipei, Taiwan, August 24, 2012 --(PR.com
)-- Ares has successfully upgraded Oracle ERP R12 for Taiwan Semiconductor, helping the latter to meet IFRS (International Financial Reporting Standards) requirements.
Publicly-traded companies in Taiwan have to adopt IFRS for financial reports on January 1, 2013 and launch IFRS and GAAP (Generally Accepted Accounting Principles) parallel operations in 2012. As such, Oracle ERP users need to upgrade to R12 version for IFRS support.
Ares has experienced Oracle ERP consultants, offering related consulting services, with various successful projects in different industries and abundant experiences in upgrading Oracle ERP. Therefore, Taiwan Semiconductor has decided to have Ares execute the upgrade task from Oracle E-Business Suite R11i to R12 for IFRS requirements, the company said.
Ares successfully completes the task within six months. During the process, Ares consultants strictly control project costs and schedule while Taiwan Semiconductor provides modifications of existing customization programs. With full cooperation on both sides, the project is completed in the quickest fashion, Taiwan Semiconductor explained.
The IFRS-related functions in this project include revenue recognition operation, fixed asset allocation, accumulated depreciation, as well as cash flow statement under the direct method. In addition, Taiwan Semiconductor launches two sets of cost principles, improving management performance with real costs and standard costs management.
Taiwan Semiconductor specializes in semiconductor wafer R&D, manufacturing as well as R&D, packaging and sales of semiconductor component (rectifier, TVS, analog IC & mosfet). Taiwan semiconductor is also a major provider of rectifier diodes.
The headquarter of the semiconductor company is in Taiwan, which is responsible for management, finance, information and R&D. The company also has factories and offices in China while other branches are located around the world, including Hong Kong, Japan, Korea, Germany and the US.
Ares professional Oracle ERP consultants offer consulting service for Oracle ERP. This service assists enterprises to carry out internal process analysis, future system planning, system set-up, system testing, integration testing and on-line back-up service. The questions, risks and quality of projects can be controlled through Ares's project management plans.
Introduction of Ares
Ares International Corp. is the first Taiwan-based software company to be listed on the Taiwan Stock Exchange (TSE). Established for over 30 years, Ares is a professional management information system software provider, with expertise in product R&D and system integration. Ares provides products and total solutions for e-enterprise, with service areas covering the financial, government and enterprise segments. Ares has received CMMI L3 certification, has outstanding project integration ability, quality guarantee ability, development and maintenance ability and the most complete professional consultancy team.