Imperial Energy ("Homnet: IFRS")

"HOMNET: IFRS" FOR EFFECTIVE REPORTING IN IMPERIAL ENERGY.

Company Info

Imperial Energy is the modern company focused on effective development of fields and long-term growth of oil production. The field of activity and profile company assets are concentrated in a northeast part of the Tomsk region. The head office Imperial Energy is in Tomsk. The company the skilled staff with work experience in more than 18 countries direct. Management and specialists of the company provide successful implementation of advanced technologies, project management, corporate management and also the best measures for protection of health, security and the environment. The Imperial Energy group includes five independent enterprises working for territories of the Tomsk region, including three oil-and-gas production enterprises (Nord Imperial LLC, Alyansneftegaz LLC and Sibinterneft LLC) and two service enterprises (Rus Imperial Group LLC and Imperial Transservis LLC). The staff of Imperial Energy totals 725 people most of which part is on company fields.

PROBLEMS AND TASKS

The information system Imperial Energy was initially constructed on the basis of the 1C: Accounting 8 software product which allowed the staff of the company to keep business and tax accounting and to prepare the regulated reporting. Over time these functions became insufficiently, work with a system caused difficulties because of a large number of completions and arising with respect thereto difficulties in updating of a configuration, its support. The decision to update edition "1C: Accounting 8" and to implement the specialized software product for automation of accounting according to IFRS was made. There was a need for operational reporting for acceptance of management decisions. "Imperial Energy" selected the program "Homnet: IFRS", developed by Homnet Consulting company on the 1C:Enterprise 8 platform.

Solution

"Homnet: The IFRS" allow to solve a large number of functional problems, such as: conducting multi-profile accounting according to international standards, preparation of individual statements according to international standards and preparation of the consolidated statements and also creation of budgets and maintaining the plan-fact analysis.

Specialists of Homnet were faced by a task to implement the software product "Homnet: IFRS" for automation of management accounting and Budgeting and Treasury blocks.

In the project progress the following works were performed: automation of accounting in two functional currencies, sale of the mechanism of formation of standard reports, automation of formation of the consolidated statements on groups of legal entities, automation of formation of requests for payment and planned cash receipts, development of the mechanism of automatic control of the current payments, automation of formation of comparative plan-fact reports. Project works are performed in one information base.

Upon completion of works specialists of Homnet provided user training to work in a system. Today consulting support is given. Five jobs are automated.