FIBO GRUOP (ITAN: Management Balance)

Description of consulting works

Complex setting and automation of management accounting and the reporting for improvement of a management system for group became the purpose of this project.

During the consulting project the following works were performed:

The analysis of the system of the management reporting existing in the company; The analysis of the existing structure of the reference information (Cost items, Cost centers, Other income and expense items); Analysis of all accounting transactions of the company; Plan development of accounts of management accounting; Development of qualifiers of management accounting; Development of schemes and correspondence of managerial postings on accounting sections; Development of techniques of management accounting; Development of forms of managerial reports Balance, "Profits and losses" and "Cash flow". The project started in January, 2010, in February, 2010 a consulting part of the project was complete.

Result of this project became:

P * Lang of accounts of management accounting;

• Magazine of correspondence of managerial accounts;
• Schemes of management accounting on accounting sections;
• Sequence of managerial accounting transactions;
• Main forms of managerial reports.
• The technical proposal on setup of the ITAN: Management Balance software product for the purposes of conducting management accounting according to requirements of the Customer.

Description of works on implementation

After approval and the approval of the document "The technical proposal on setup of the ITAN: Management Balance software product for the purposes of conducting management accounting according to requirements of FIBO Group specialists of ITAN company started transfer of methodology of accounting in software "ITAN: Management Balance".

The following subsystems of software "ITAN: Management Balance" were applied to automation of methodology of accounting of FIBO Gruop company:

• Managerial chart of accounts and sub-account;
• managerial qualifiers;
• the mechanism of Accounting orders (by means of this mechanism it was succeeded to deliver completely managerial document flow);
• mechanism of accounting of non-current assets;
• Closing of month;
• Designer of financial statements.

The project started in February, 2010, and in April, 2010 the works on implementation were completed. Implementation was performed on project technology.

The customized system of management accounting became result of this project the cornerstone of which the correct methodology of conducting management accounting of FIBO Gruop company providing input of management information, convenient for users, and the operational management reporting necessary for acceptance of the justified timely management decisions is.