SINOVEYT COMCON (ITAN: Management Balance)

The ITAN company completed the project on automation of accounting and the reporting under IFRS in Sinoveyt Komkon having implemented a subsystem "ITAN: Management Balance" in 1C: Accounting 8 base.

Upon transition to "1C:Enterprise 8" the Sinoveyt Comcon financial service looked for the solution which would allow to solve the following problems without problems:

1. To automatically prepare the reporting for parent company in a required format. 2. Have at the same time simple and flexible configuration. 3. Not remove accounting base from standard support. 4. Enter additional operations with IFRS: reserves and other charges 5. Keep account by projects.

Having carried out market research, the management of Sinoveyt Komkon stopped on the solution of ITAN company, thanks to the fact that the solution "ITAN: Management Balance" completely conformed to requirements of financial service.

At implementation the technique of the standard project in which at first the technique of creation of the reporting of IFRS was described and debugged was applied, and already then it was implemented in the program. Also specialists ITAN carried out loading of opening balances to a system from Excel.

The project lasted 4 months. As a result the customer received the modern instrument of preparation of the reporting under IFRS considering specific features of Sinoveyt Komkon:

1. Accounting of a financial result on projects. 2. Use of internal rate of currencies. 3. Formation of revenue on invoices for payment. 4. Additional postings on reserves and charges.

For the first periods of 2013 the staff of Sinoveyt Komkon already created the reporting in the new program.