Homnet: IFRS

Homnet: IFRS is an industry solution of Homnet Consulting on the 1C: Enterprise 8 platform, designed to maintain accounting in accordance with the principles of international standards and managerial financial accounting. The solution is designed for enterprises of any scale of all forms of ownership and is an effective tool for improving the speed and quality of financial reporting.

The product is certified by 1C for 1C: Compatible.

2021: Inclusion in the Register of Domestic Software

Another solution developed by Khomnet Group of Companies was examined and included in the register of Russian software. The list of domestic software approved by the Ministry of Finance was supplemented by the Homnet: IFRS product (previously Homnet: NFO and Homnet: XBRL were included in the register). This was reported on September 24, 2021 in Homnet Consulting.

Homnet: IFRS is a comprehensive management and accounting solution in accordance with global standards. The program works on the basis of "1C: Enterprise 8" and solves a number of tasks - from the preparation of individual reports to the construction of post-factual analysis.

Inclusion in the register indicates compliance of Homnet: IFRS with the requirements of the legislation and its domestic origin. Thus, the decision "Homnet: IFRS" can be applied in companies that are prescribed to use Russian software, concluded in "Homnet."

2013: Homnet: IFRS 3.1.0.1

In March 2013, Homnet Consulting released a new version 3.1.0.1 of the Homnet: IFRS solution for the 1C: Accounting 8 software product, Revision 3.0. The solution is designed on managed forms and runs through a thin client. That is, now users of Homnet: IFRS have the opportunity to work in the system through any Internet browser. Also, it is possible to work not only from a stationary computer, but also through mobile devices (mobile phones, tablets, etc.).

The software product "Homnet: IFRS," developed on the platform "1C: Enterprise 8," is designed to generate reports in accordance with international standards and automate management financial accounting. The solution is suitable for enterprises of all sizes and forms of ownership and is an effective tool for improving the speed and quality of financial reporting.

Also, it is worth noting that users of the new configuration "Homnet: IFRS" will receive distributions of the new edition in the usual way of updating the release. The transition to revision 3.1.0.1 will be carried out with the preservation of all accumulated credentials.

The solution has many advantages:

• Organizing a workflow from anywhere in the world operational monitoring of accounting and financial indicators through mobile devices; Remote operation without installation software The ability to use any web browser supported by different platforms. Homnet: IFRS can function on devices with mobile platforms such as:, iOS, Android Windows Phone, etc.
• As for the interface languages, it is possible to set the language separately for each user and generate reports in different languages ​ ​ (Russian, English, German, etc.).

2011: Confirmation of compatibility with "1C: Enterprise"

1C confirmed the high technical quality of Homnet: IFRS. The program "Homnet: IFRS" for the first time received a certificate "Compatible! 1C: Enterprise program system "in January 2009, and in 2011 confirmed its technical quality, as well as ease of installation and use of the solution. Over the many years of implementation, the product has been significantly improved, acquired the multifunctionality used in the process of implementing a large number of diverse corporate projects. For 2011, the program is designed to solve the problems of management accounting, reporting in accordance with IFRS and GAAP, consolidation of reporting, budgeting, and maintenance of a plan for factual analysis.

2010: Key Capabilities, Objectives

The software product Homnet: IFRS is developed in strict compliance with ISO 9001:2000.

Tasks solved by Homnet: IFRS

• Maintenance of multi-company accounting in accordance with international standards
• Maintenance of multi-company management accounting
• Preparation of individual reports on international standards
• Preparation of consolidated statements
• Budgeting and Plan Analysis Maintenance

Main features of Homnet: IFRS

Homnet: IFRS allows you to define additional company accounting systems yourself - be it accounting under IFRS, US GAAP or internal management accounting. For each accounting system, the company sets up a separate chart of accounts. The chart of accounts structure can be arbitrary and change over time. In addition, the system allows you to maintain analytical accounting for accounts up to 5 levels (subcontos ).

1. Record keeping and preparation of individual financial statements in accordance with IFRS and management accounting principles.
2. Concurrent accounting (translation) of accounting subsystem postings according to rules that are flexibly configured by the user.
3. Separate accounting of certain accounting areas, where accounting according to IFRS rules and Russian accounting are different.
4. Maintain separate regulatory and business transactions for management or international accounting purposes.
5. Record from IFRS period data changes, if Russian accounting data can be changed.
6. Set of standard IFRS reports. Flexibly customizable report forms
7. Учет credits, loans, accounting of leased OS
8. Budgeting, Treasury, Cash Management.

Configuration Functionality

Transaction Transformation: The Homnet: IFRS solution allows you to convert Russian accounting data into other accounting systems. Both off-line and on-line translation is provided.

Flexible customization options: Flexible, customizable IFRS and management accounting charts of accounts that each business can customize according to its accounting policy.

Separate accounting: The configuration has a universal mechanism for generating accounting data in the IFRS subsystem: accounting information can be translated according to customized rules from Russian accounting data, or accounting can be maintained directly in the IFRS subsystem for those areas that cannot be transferred from Russian accounting (OS, NMA, RBP, revaluation, impairment). It is also possible to enter transactions directly into the IFRS subsystem.

Routine operations:

1. Close IFRS accounts.
2. Revaluation of currency accounts (for each revaluated account, it is possible to specify a positive and negative exchange rate difference account).
3. Close the IFRS period against changes. The system allows you to set a period-end closing date. If you change or add new documents in a closed period, the postings generated will be for the next fiscal period (specified when the period is closed). The system has a report showing the documents and postings changed in the closed period
4. Calculate expenses, reserves.

Accounting Model: The software product includes an accounting model that includes an IFRS chart of accounts, customized translation rules, and a set of standard reporting.

Reporting: The configuration provides a great opportunity to build the necessary reports, from standard reports (balance sheet, account card, etc.) to arbitrary reports. The configuration includes sample report forms:

• balance,
• income statement,
• report on changes in capital,
• Cash flow report.

Generic Report Designer. In addition to standard reports, the system allows you to create your own freeform reports using the Report Builder. To do this, the user must specify the structure of the report in a hierarchical form. For each report item, you must specify how the system calculates the amount of the item. An item amount can be calculated from accounting data from one or more accounting accounts. At the same time, it is possible to establish selection by analytics. It is also possible to calculate the amount of an item on several accounting accounts and on the group account - including the balance of sub-accounts. User reports can be compiled for each accounting system (RAS, IFRS, management accounting, etc.). All articles of the report can contain foreign names, then the report can be generated in Russian and foreign languages. It is also possible to generate reports by period (day, week, month, quarter, year). In this case, the data of each period will be displayed in a separate column.

Fixing against changes: Fixing against changes in IFRS period data, if Russian accounting data can be changed. The system automatically tracks historical adjustments under IFRS.

Consolidation of financial statements: The solution ensures the formation of consolidated financial statements in accordance with IFRS according to the direct method of complete data consolidation with the possibility of excluding intra-group turnover.

Budgeting: The solution allows you to generate budgets according to user-defined sections with various options, planning details, comparison with actual data.

Credit and loan accounting: In this configuration, a simple version of loan accounting is implemented: all loans are accounted for at amortized cost using the effective interest rate method. Certain loan parameters affect the accounting order:

• Date of receipt, planned date of repayment of loan affect assignment of loan to long-term or short-term
• Discount rate, loan repayment schedule and interest repayment schedule affect the division of the loan into long-term and short-term parts
• Discount rate, date of receipt, planned maturity date, amount and repayment schedules of the loan and interest affect subsequent loan valuations

Accounting of leased funds: Accounting can be carried out according to leased objects under financial (leasing) and operating (current) lease agreements. All accounts for accounting for costs, income, debt and parameters for accounting for the object are indicated in the documents for acceptance (transfer) of objects for rent.

Treasury: Centrally manage payments for enterprises with complex organizational structures. Formation of Payment Requests and Planned Cash Receipts, Approval of Payment Requests. Automatic monitoring of current payments to ensure that the Cash Flow Budget (CBS) is not exceeded in real time.

Accounting of non-current assets. Parallel accounting of non-current assets is carried out in each accounting system separately, while the directories of fixed assets and intangible assets are common to all systems. This approach avoids duplication of background information on non-current assets. The user has the opportunity to view the list of non-current assets accepted for accounting in the accounting system he wants. The non-current asset card also prompts the user to select the accounting system whose data is to be displayed.
Documents for acceptance and disposal of non-current assets in additional accounting systems are filled out automatically based on Russian accounting data.

In addition to the typical transactions for Russian accounting, the system automates specific operations for working with non-current assets: revaluation, transfer of fixed assets to investment ownership.

Advantages

Multilingual interfaces. It is possible to set the interface language separately for each user and generate reports in different languages (Russian, English, German, etc.)

Easy to implement. Thanks to the unique technology of rapid implementation developed by Homnet Consulting specialists, accounting automation using Homnet: IFRS is carried out as soon as possible (from 4 weeks ).

Integration. The system is designed for integration with solutions:

1. 1C: Enterprise Accounting 8
2. 1C: UPP 8
3. 1C: Comprehensive Automation 8
4. 1C: CORP Accounting

It can also be integrated into any 1C: Enterprise 8 configuration based on the chart of accounts.

Ability to automatically download data from previous versions.

In the decision "Homnet: The IFRS" realized the mechanisms supporting requirements of standards: IAS 1, IAS 2, IAS 7, IAS 8, IAS 10, IAS 12, IAS 16, IAS 17, IAS 18, IAS 19, IAS 21, IAS 23, IAS 24, IAS 27, IAS 32, IAS 34, IAS 36, IAS 37, IAS 38, IAS 39, IAS 40 and IFRS.