Prof-IT Group helped to automate the reporting under IFRS in Dzhokey Plastik

On December 19, 2019 the PROF-IT GROUP company announced project completion on transfer of a financial reporting system of Dzhokey Plastik Ulyanovsk LLC to the International Financial Reporting Standards (IFRS). Thanks to the solution PROF-IT Management accounting and IFRS the customer could implement in the stipulated terms simultaneous display of the reporting in the corporate information system under national and international standards.

Due to the need of preparation of the reporting for head office Jokey in "Dzhokey Plastik Ulyanovsk" there was a requirement of parallel reporting both on Russian, and according to international standards, according to domestic account policy of the Jokey group.

Accounting according to IFRS – the indispensable requirement of parent company. Therefore the project had key value for our work. Compliance to international standards is necessary not only for accomplishment corporate the politician of holding and use of reports in the managerial purposes, but also is an important condition of development of partnership with the foreign companies and investors. Gyuzel Zimukova, chief accountant of Ltd company "Dzhokey Plastic Ulyanovsk

To the Dzhokey Plastic Ulyanovsk project carried out financial accounting in a 1C system: Accounting 3.0 which does not provide a possibility of the automated accounting according to international standards. In this regard the decision on transition to work with PROF-IT Management accounting and IFRS providing reporting in the automatic mode – according to the international and Russian standards was made (IFRS and RAS).

According to requirements of the company were performed by specialists of PROF-IT GROUP: transition to the CORP + IFRS Accounting configuration 8.3, setup of account policy and also a number of completions of a system under requirements of the customer. Adaptation of functionality included development of a system regarding broadcast of postings of regulated accounting in IFRS by the mirrorings method, calculation of exchange differences and also determination of report forms according to IFRS, dates of prohibition of performing transactions and terms of closing of month.

For automation of work on international standards of accounting records we proposed to the customer our own solution PROF-IT Management accounting and IFRS. The methodology allows at once "from a box" to provide a number of difficult transactions. In the solution the productions acquired practice of automation of IFRS at the enterprises from the industries, trade and defense industry complex are implemented. Thanks to simultaneous data mapping in national and management accounting according to IFRS the customer will have an opportunity of early closing of the period in a system. Evgeny Spitsin, the Head of a competency group on regulated accounting of PROF-IT GROUP

The used solution is compatible to any configuration 1C: Enterprise, including with 1C: Consolidation, 1C: ERP Enterprise Management, 1C: Holding Management, 1C: Accounting of the Building IFRS.