Microtest: IFRS

Program and Methodical Complex (PMC) "Microtest: The IFRS" are developed by business direction 1C Microtest which specializes in solutions 1C for the large and medium-sized, multifilial and geographically distributed companies. By 2011 the business direction executed more than 20 projects based on "1C: Consolidation 8 Prof", a third of them – automation of tasks of IFRS and development of techniques of accounting. The best practices from this experience are accumulated in a drawing program and methodical complex.

For the foreign missions and the Russian companies focusing the business on cooperation with foreign partners and investors such tasks as openness of activity and use international regulations and rules of business come out on top. Use of International Financial Reporting Standards is one of priority tasks for achievement of these purposes.

The solution is intended for representative offices of the foreign companies, the Russian enterprises, holding structures and the companies with a difficult management structure which need formation individual and corporate financial statements according to the IFRS standards.

Program and methodical complex "Microtest: The IFRS" are:

• The RSBU-MSFO ready transformational model implemented based on the 1C: Consolidation 8 Prof software product taking into account requirements and the recommendations of auditors and methodologists of Big Four;
• The basic model contains more than 350 types of specialized reports for reporting according to IFRS, including:
• Packet of analytical tables for data loading of the external accounting systems or the MS Excel;
• Packet of forms for verification of the loaded analytical tables;
• Packet of transformational forms, for measure calculation of IFRS;
• Packet of templates of the automated adjustments;
• Packet of notes and interpretations according to the IFRS standards.
• Set specialized completions and mechanisms for "1C: Consolidation 8 Prof", the reportings under IFRS used for preparation;
• BestPractices of Microtest company received as a result of long-term experience in business market.

Functionality of PMK "Microtest: The IFRS" allow to automate process of collecting of the consolidated statements IFRS at all stages of its preparation:

• Data collection and from the accounting systems and their check;
• Formation of individual forms of the reporting under IFRS for each child and dependent society (DZO), including multifilial DZO;
• Portal of reconciliation of intra group turnovers and mechanism of acts of reconciliations;
• Formation of corporate financial statements according to IFRS for different perimeters.

In what advantages to the Customer:

• Significant savings of the budget and terms of the project in comparison with similar solutions in the market;
• You receive not only the information system allowing to implement model of transformation of IFRS, but also a unique detailed documentation kit and techniques;
• The solution which corresponds to the recommendations of auditors of Big Four;
• Long-term positive experience Microtest in project implementation according to IFRS in the largest companies of Russia and the CIS, support and recognition of 1C Company act as guarantors of effectiveness.

Use of PMK "Microtest: The IFRS" in combination with other solutions Microtest for budget management, management of treasury, resource management of the enterprise will allow to reach the greatest effects for business of the client.