SOGAZ automates process of formation of financial statements according to IFRS

SOGAZ began cooperation about Homnet Consulting within project implementation on development of the system of automation of accounting and formation of financial statements according to international standards (IFRS) based on 1C. As the tool for automation of the reporting the software product "was selected by Homnet: IFRS" - own development Homnet Consulting.

In the summer of 2013 the large Russian company JSC SOGAZ signed the agreement on project implementation on automation of process of reporting according to IFRS about Homnet Consulting - the reliable partner of 1C having wide experience in the field of automation of the international companies and organizations with holding structure. For project implementation specialists of the contractor suggested to use the modern solution of own development – "Homnet: IFRS".

The purpose of this project is implementation in JSC SOGAZ of the software product "Homnet: IFRS", allowing to reduce labor costs by preparation of the reporting under IFRS and terms of preparation, to make the reporting under IFRS of more transparent with a possibility of quick and convenient search and interpretation of information, to create the reporting by additional the analyst.

For the purposes of the Russian accounting by the Company the program "is used by 1C: Management of insurance company". For the purposes of accounting according to IFRS it is supposed to use the program "Homnet: IFRS".

During the project the following tasks will be implemented:

• Plan development of accounts of IFRS and look-up table of accounts of RAS to accounts of IFRS;
• Setup of automatic formation of the main report forms (The report on a financial status, the comprehensive income statement, the report on own means, the cash flow statement) and the analytical interpretations entering a packet of the audited reporting;
• The isolated accounting of separate fixed asset objects and intangible assets in an IFRS subsystem, assessment and which recognition differs from the Russian accounting. Including all operations on depreciation, calculation of residual cost, revaluation and leaving;
• Classification of securities by portfolios, adjustment to fair value, loading of the security quotations from the Internet, calculation of depreciated cost of bonds for an effective interest rate, storage of the reference information for securities for the purposes of drawing up reports on interpretations, loading of bank ratings for classification of deposits in rasshifrovochny reports;
• Formation of a reserve under a doubtful debt;
• Loading of charges and reserves on an insurance activity according to actuaries;
• Calculation of the deferred taxes for IFRS.

In the company implementation of corporate delivery "Homnet is conducted: IFRS" on an unlimited number of jobs.