FC Otkritie (ITAN: Management Balance)

The first stage of the project on automation of accounting according to International Financial Reporting Standards in Finance corporation OTKRYTIYE (FC OTKRYTIYE) is completed. Within this stage implementation of the ITAN: Management Balance software product therefore the system of automatic broadcast of booking data from the RAS format in the IFRS format is received is made and the bank of the corresponding reporting is created.

As tasks which were set by the management of FC OTKRYTIYE for own accounting department and reportings were the following:

• Creation of an end-to-end automated system of broadcast of booking data from the configurations of the financial accounting "1C: Accounting 8" which are already existing and working in the company in data on the IFRS standards, receiving additional mechanisms of adjustment and data recording taking into account specifics of IFRS and also obtaining the corresponding local reporting under IFRS.
• Creation of an automated system of preparation and obtaining the consolidated statements according to IFRS and also shareholder reports based on the consolidated statements according to IFRS.

For the solution of assigned tasks the ITAN: Management Balance software product to which advantages it was possible to carry was selected:

• An opportunity to be built in any standard and non-standard configuration based on the 1C:Enterprise 8 platform (without mentioning objects of an initial configuration) and to expand its opportunities for conducting financial managerial accounting and also accounting according to IFRS.
• An opportunity to make consolidation of data from any configurations based on the platform "1C:Enterprise 8", "1C: Enterprise 7.7" with detailing to the primary document.
• Minimization of double entry of information (up to 80% of information it is automatically converted from accounting data, or from other sources of operational information);
• A system Modifikabelnost – change without configuring that is important advantage at creation of multilevel unique planning and budgeting systems taking into account specifics of business processes of the enterprise.

At a stage of inspection the following parameters of future subsystem were developed and approved:

• Chart of accounts of IFRS.
• Rules of converting of postings of RAS in IFRS.
• Service settings, main forms of the reporting.
• The list of completions proceeding from specifics business of processes of the company of the customer (leasing accounting, accounting of repo transactions, liquidity analysis, etc.).

At a stage of setup of a subsystem, the ITAN company not only provided ready accounting model for FC OTKRYTIYE, but also transferred technology of its use. It allowed to perform independent implementation of the configured subsystem in accounting information bases of other companies entering into holding and to respectively lower finance and time expenditure in general on implementation.

Currently after automation of parallel accounting according to IFRS, works of the next stage of the project – preparation and obtaining the consolidated statements according to IFRS based on the 1C: Consolidation software product are performed. Within this stage inspection of the block of consolidation is already complete, technical proposals are written.