Algo Capital using Homnet automated preparation of the reporting in the XBRL format

2018

System implementation of preparation of the business reporting in the XBRL format

On November 13 the Homnet Consulting group announced project completion of system implementation of preparation of supervising, accounting (financial) and other business reporting in the XBRL format in Algo Capital LLC.

The system of preparation of the reporting in the XBRL format in IK Algo Capital was under construction on the software solution "Homnet XBRL" developed by specialists of Homnet Group based on a technology platform "1C: Enterprise".

The implementation project of the module XBRL became logical continuation of cooperation between the companies on implementation project completion "to Homnet: NFO" — the solution allowing to keep account on EPS and OSBU. The architecture of this solution is prepared for implementation of the XBRL format, as became the next stage jointly of the carried-out works.

On a response of the customer, the direct system of the reporting created in Algo Capital based on solutions "by Homnet: NFO" and Homnet XBRL, allowed to reduce time for collecting of the reporting thanks to function of automatic data loading from base "Homnet: NFO" in the module XBRL.

Within the project are automated work with taxonomy; data loading from the different systems in different formats (XBRL, csv); validation of data on rules of taxonomy of the Central Bank; technology data validation; formation of a packet of the reporting according to taxonomy of the Central Bank.

Specialists of Homnet Group at all stages of preparation of the reporting gave consulting support on methodical and technical issues of work with the program. As result, from the solution "Homnet XBRL" the staff of Algo Capital prepares and hands over the reporting in the XBRL format for the entire periods of the second quarter 2018 and is accepted by the Central Bank.

Transition to accounting under EPS

On October 25, 2018 Homnet Group reported that it implemented the project of transition to accounting by a unified plan of accounts of the Central Bank (EPS) and preparation of the reporting under the last standard in Algo Capital investment company. A system was under construction based on the solution "HOMNET:NFO".

Within the project in IK Algo Capital process of preparation of financial (accounting) statements according to the Chart of accounts and industry standards of accounting for NFO is automated. At a final stage of the project the test reporting according to requirements of the Central Bank of Russian Federation is prepared and handed over.

Preparation of a system for further automation of process of reporting in XBRL was one more project objective. The objectives were also successfully achieved that allowed to start without delay the planned project – implementation obligatory for NFO since 2018 of a format of the reporting of XBRL.

For October, 2018 the project team of Homnet already completed the main phases of implementation of the specialized software solution "XOMHET:XBRL" allowing to prepare the reporting in a required electronic format.