BL: Accounting leasing + IFRS

"BL: Accounting leasing + IFRS" – the software solution includes functionality of accounting and preparation of the reporting under IFRS for the leasing company.

Advanced functionality and the most flexible possibility of setup of parameters of accounting in a system allow to consider differences in the applied accounting principles of IFRS of the companies and the requirement to accounts presentation for auditors, investors and shareholders.

Also this delivery can be used for the organization of management accounting, using the principles of IFRS for a basis or if before company management do not cost a task of formation and accounts presentation of IFRS, a system can be used for the purposes of conducting only management accounting.

Main advantages of the organization of a system of management accounting, using an IFRS subsystem:

• Possibility of use of a methodological basis and principles of IFRS.
• Possibility of comparison of results of activity between the companies of the industry.
• Cost reduction when using the uniform principles for formation of the international and management reporting.
• More effective organization of process of preparation of the reporting.
• Reflection of transactions of management accounting by method of double record. Always it is possible to explain the reasons of differences in indicators between inventory data under RAS and management accounting.
• Obtaining most detailed reporting for the purposes of management accounting on a regular basis on such indicators as: net investments in leasing, the amounts of real arrears on lease payments gained and not gained financial income, effective interest rates, to principal amounts, lease payments, to terms of emergence and debt repayment, etc.
• Possibility of use of data of management accounting, as source for the purposes of budgeting and planning.
• Simpler transition to accounting in full accordance with requirements of IFRS.

Use of a subsystem of IFRS as bases for conducting management accounting leads to increase in reliability, transparency and completeness of the management reporting and as a result, the quality and reliability of the management accounting which is a basis for decision making by heads of the leasing companies in the operating activities increases.