The trade-marketing company ITM conforms to international standards thanks to implementation "Homnet: IFRS"

The trade-marketing company ITM prepares the reporting under IFRS in the program "Homnet: IFRS" based on "1C:Enterprise 8". The project of automation allowed the staff of ITM company to keep parallel account of business activities according to international standards of the reporting on the basis of the Russian accounting.

The ITM company prepares the reporting under international standards in the specialized software product "Homnet: IFRS" on the 1C:Enterprise 8 platform. Specialists of the company use in work a convenient and effective method of preparation of the reporting – conducting parallel accounting which allowed to automate a product. The implementation project was implemented by Homnet Consulting company.

During automation of process of a reporting preparation according to international standards (IFRS) specialists Homnet Consulting implemented basic functionality of the solution, carried out initial setup of the chart of accounts according to IFRS, rules of broadcast of credentials and necessary forms of the reporting, implemented data transfer from "1C: Payroll and HR Management 8" and other used programs in a new system. At the moment a system provides:

• accounting and preparation of individual financial statements according to the principles of IFRS;

parallel accounting (broadcasting) of postings of a subsystem of accounting by rules which are flexibly configured by users;

• the isolated accounting of some sections of accounting where accounting by rules IFRS and the Russian accounting are different (for example, fixed asset accounting and intangible assets);
• maintaining separate procedural (revaluation of currency, closing of month) and economic transactions for the purposes of the international accounting;
• fixation of changes of data on IFRS during reporting, at a possibility of change of data of the Russian accounting.

"In an implementation project deliverable "Homnet: IFRS" the staff of our company had an opportunity to keep parallel account of business activities according to international standards of the reporting on the basis of the Russian accounting that considerably reduced risks of emergence of expensive errors and time frames of execution of works", – the managing director of ITM Yaroslav Plink noted.