Ukrspetstransgaz (BIT:IFRS 8)

Specialists of The First BIT company provided an opportunity simply and quickly to keep the reporting under international standards and to compare data of different types of accounting in Ukrspetstransgaz using the program "BIT:IFRS 8"!

The Zapadnoukraisky division of the Ukrspetstransgaz national DAT joint-stock company "NAFTOGAZ UKRAINY" (The Ivano-Frankivsk region, the city the Valley) provides transportation services of a liquefied gas in special gas tanks from the plants - producers to consumers within Ukraine and abroad.

The division was interested in automation of accounting in compliance in international standards. The First BIT company – developer of the convenient solution "BIT:IFRS 8" which after demonstration was recognized the optimal variant which is completely satisfying requirements of the company became the partner in automation.

After implementation of the software product "BIT:IFRS 8" became possible:

• Broadcast data from national accounting: online, at a current rate at difference of currencies, preserving of communication with the primary document, flexible configuration of compliances of accounts for correct data transfer and automatic reclassification of statement items;
• Keep parallel account: accounting of OS and intangible assets, revaluation of monetary items of balance, closing of the period, etc.;
• Provide independent input of specific transactions IFRS: hidden financing, finance lease, accounting of debt on fair value, formation of reserves, additional charges and so forth;
• Create any international reports: standard reports of Balance Sheet, Profit&Loss Statement, Cash Flow Statement, etc. and specific additional reports with any structure;
• Compare national and international postings: identification of discrepancies in postings for a certain period.