PROF-IT Management accounting and IFRS

2019: Submission of the solution on automation of management accounting based on IFRS

On August 7, 2019 PROF-IT GROUP presented the solution on automation of management accounting based on IFRS.

Distinctive feature of PROF-IT Management accounting and IFRS – implementation "from a box" a large number of the ready scenarios of accounting according to IFRS adapted for the companies from production areas, trade and defense industry complex

The solution is compatible to any configuration 1C: Enterprise, including with 1C: Consolidation, 1C: ERP Enterprise Management, 1C: Holding Management, 1C: Accounting CORP of IFRS. PROF-IT Management accounting and IFRS is presented in two versions: Building and Standard. The choice of a configuration depends on requirements of the organization, the amount of business and already applied approaches to accounting.

Thanks to the ready-made solutions considering features of accounting in specific industries of business, labor costs and time for product introduction are minimized: is up to 30% faster, than adaptation of functionality of standard products.

PROF-IT Management accounting and MSFO Korp is focused on large and medium business, the groups, the enterprises working under agreements of a long cycle or multiconversion production. The solution suits the organizations making the individual and consolidated statements according to IFRS and management accounting, the reporting under data of information base and the reporting under IFRS out of a system. PROF-IT implementation Management accounting and MSFO Korp can take from 4 to 12 months, depending on requirements of the company and geography of the project.

The version of PROF-IT Management accounting and the IFRS Standard is intended for medium business, suits the companies with insignificant differences in accounting methodology according to the national and international standards, the organizations making the management reporting according to information base and the reporting under IFRS out of a system. The average term of transition to PROF-IT can occupy Management accounting and the IFRS Standard to 3 months.

The solution considers standards of preparation of the reporting at the legislative and industry levels. In a basis of a product results of the numerous projects which are carried out by PROF-IT GROUP in the territory of Russia and the CIS countries are put. Together with PROF‑IT Management accounting and IFRS our clients get support of developers, consulting on practicians of accounting in the separate industries of business and also examination in the field of International Financial Reporting Standards, comments Ivan Mikhaylov, the Operating officer of PROF-IT GROUP

PROF-IT Management accounting and IFRS provides conducting parallel accounting concerning separate assets and liabilities, a possibility of early closing and formation of automatic adjustments on reklassa and charges. The solution supports simultaneous data mapping in national accounting and the reporting under international standards.