NAFAAR - the New Approach

NAFAAR - The New Approach

To Financial Accounting, Auditing, and Reporting

Revised 12/3/2015

Executive Summary

Welcome to a completely new experience in financial accounting. We call it The New Approach to Financial Accounting, Auditing, and Reporting, or NAFAAR for short.

Your experience cannot be anything but incredibly positive because NAFAAR technology is superior in virtually all ways to any comprehensive financial accounting system ever developed. Whether you are the accountant, the auditor, the business owner, a member of accounting entity’s oversight body, the local banker, or a taxpayer, you will benefit from this experience.

Our pledge to you: We will provide financial accounting, auditing, and reporting tools to inform and protect you in ways not possible with any other accounting system at any price.

NAFAAR:

Is the most technologically advanced accounting system ever developed.

Is the most intelligence-rich financial reporting system ever developed.

Contains accounting, auditing, and reporting features you have never experienced.

Simple to use, even for non-accountants.

Designed with data protection measures not possible in other accounting systems.

Creates financial statements and reports with verifiable accuracy and reliability.

Produces same financial statement reporting models you currently use.

Adds new financial statement reporting models for greatly improved understandability.

IFRS 8 (Operating Segments) financial reporting capability using single data warehouse.

Introduces the concept of Progression Reporting.

Expands the concept of electronic-based internal controls to new levels.

Introduces the concept of Regression Auditing for data protection and verification.

Introduces Risk Analysis audit procedures to monitor data integrity and protect assets.

NAFAAR – Major Features (Fully IntegratedModules):

Banking Module.

Budgetary Accounting Module (supportsAP and encumbrance accounting).

Payroll Module.

Accounts Receivable Module (supports billing for utility & business products and services).

Utility Billing Module (for utility type business operations typically found in cities).

GAAP Module (GL) (supports accrual and other bases of accounting).

NAFAAR – Current and Future Releases. The New Approach (NAFAAR), introduced in 2015, will be released in phases as a series of products that we refer to as the NA Series. With a few minor variations, depending on the type and size of the accounting entity, all of the releases will contain the same basic features.

Current Release. Local Governments – Small to Medium.

Next Release. Businesses (including multiple Operating Segments) – Small to Medium.

Software and Hardware Requirements and Limitations

Windows Based. NAFAAR is locally hosted for the Windows environment (XP, Win 7, Win 8, Win 10).

Data Warehouse. NAFAAR employs a single data warehouse concept, meaning virtually all financial statements and reports are generated from a single database. NAFAAR uses a Microsoft Access database which has a stated capacity of 2 GB. NAFAAR is designed to maintain data space usage well under 25 percent of capacity.

Network Ready. The current and next release of NAFAARis specifically designed for small to medium accounting entities. You are responsible for setting up your network. However, we can help you install NAFAAR for network use.

About Custom Micro Works (CMW)

Established 1988

Founder, CEO: Steve L. Seawall, CPA

About the Author of The New Approach (NAFAAR)

Steve L. Seawall, CPA, BS, MS, MBA, MPA

Author, Researcher, Software Developer

Education

BS Peru State College, Peru, NE - Double Major in Math and Chemistry

MS Oklahoma State University, Stillwater, OK - Biochemistry

MBA Fairleigh Dickenson University, Rutherford, NJ

MPA Fairleigh Dickenson University, Rutherford, NJ

No Degree, Washburn University, Topeka, KS - Major in Accounting

Experience

35 years in Governmental Accounting, Auditing, and Budgeting

25 years in Software Engineering, Database Management, Programming

Principal author Kansas Municipal Audit Guide (1994)

Prepared first GAAP Annual Financial Report, University of Kansas (1999)

GASB Statement No. 14 project participant

GASB Statement No. 34 project participant

GASB Statement No. 35 project participant

Frequent speaker at CPA conferences, Legislative committees, etc.

Founder & Past President, Topeka PC Users Club (1986)

Awards of Achievement

Gold Key Award Winner, Kansas Society of CPAs (1982 CPA Exam Highest Score in KS)

Elijah Watt Sells Award of Distinction, American Institute of CPAs (1982 CPA Exam)

NDEA Fellowship Award, Oklahoma State University 1970-1972