The Ukrainian Media Holding prepares for the report on IFRS

The Ukrainian Media Holding together with INTALEV group started project implementation "Setting and automation of accounting and the reporting under IFRS".

Objectives

During the joint project of two companies it is supposed to implement tasks:

• accounting and reporting according to the International Financial Reporting Standards (IFRS) in specialized software "INTALEV: Corporate finances", since 2011;
• process optimization of collecting and transformation of the reporting under IFRS;
• automation of receiving and transformation of the reporting under IFRS.

Big way

The first stage of the "Methodology and Development of Regulations according to IFRS" project is begun in September of this year. According to the management of UMH project implementation will allow to accelerate considerably preparation of the reporting and there will be a possibility of preparation of quarterly financial statements, and the new implemented technologies for optimization will increase efficiency and company competitiveness.

Contractor

"We are sure that our joint project will bring joint benefit and cooperation of the companies will lay the foundation strong further" - Alexey Medvedev, the general project manager of the Ukrainian office INTALEV Group commented.

It is supposed that time of project implementation will be no more than three months.