Analytical Credit Rating Agency (ACRA) (BIT.FINANS: Management Accounting)

2020: Automation of management accounting and budgeting processes

In November 2019, AKPA decided to increase the level of automation of management accounting and budgeting processes, for which the decision "BIT.FINANS Management Accounting" (hereinafter referred to as the System) was chosen. In July 2020, the first stage of the System implementation was completed. Implementation work was carried out by RDV specialists together with AKPA specialists.

During the project, RDV and AKPA specialists jointly performed the following works:

• Prepared detailed functional requirements for the System.
• Designed and developed an integration mechanism between BNFO regulated accounting systems 3UP with the BIT.FINANS System.
• We have set up the correspondence of the management chart of accounts with the chart of accounts of accounting in non-bank financial institutions.
• Set up the automatic translation of downloaded data from the BNFO and 3UP to the management chart of accounts with the ability to detail the data up to each primary document of regulated accounting.
• Set up reports on management accounting data: Cash flow and P & L.
• You have analyzed budgeting processes, designed and configured the System to enter budgets at different levels.
• You have set up the System to monitor the actual execution of the budget and the ability to update the data depending on deviations from the planned indicators.
• Set up the System to carry out a plan of actual analysis of the Company's activities taking into account multi-price planning.
• We have developed a subsystem for calculating revenue adjustments according to the requirements of IFRS 15.

Implementation of the System allowed AKPA to:

• Automate budgeting business processes in the Company.
• Automate actual data collection for operational management reporting purposes.
• Automate the calculation of revenue adjustments for IFRS 15 requirements, simplify the procedure for passing an external audit, and ensure transparency of data for audit.