Homnet Leasing automated accounting according to IFRS in BOT Leasing

The Homnet Leasing company completed the project of automation of accounting according to IFRS in BOT Leasing using the standard expert solution "Homnet Leasing of IFRS". Now all operations with IFRS, including difficult restructurings, are fulfilled by standard functionality of the implemented module.

The BOT Leasing company is founded in Tokyo in 1979. Enters into the world's largest finance corporation Mitsubishi UFJ Financial Group, Inc. (MUFG). Branches of the company are in the different cities of Japan and the countries of Southeast Asia. Began the work in Moscow with 2007 BOT Leasing, being the first Japanese company in the market of leasing services in Russia.

The decision on start of the project of automation of accounting according to IFRS in BOT Leasing was made to accelerate due to the need terms of report generation and to increase their quality, to make process of preparation of the international reporting completely automatic. The important role in decision-making was played by compliance of the standard program and methodological complex "Homnet Leasing of IFRS" developed by Homnet Leasing company, to requirements of the leasing company.

The method of transformation of data was applied to preparation of the reporting under IFRS in BOT Leasing, closing statements gathered in the MS Excel that was followed by high labor costs and insufficient accuracy of the data.

Implementation in BOT Leasing of the expert solution "Homnet Leasing of IFRS" began at the end of 2010. During the project the following works were performed:

• the accounting methodology according to IFRS is developed,
• automatic input of a remaining balance on the leasing portfolio for January 01, 2010 using the standard mechanism of "input of start state of the leasing portfolio" on formation of inventory data according to IFRS on the basis of diagrams according to IFRS and inventory data of RAS is made,
• reflection of current transactions, since January, 2010, also mainly automatic method — on the basis of diagrams of IFRS and data of RAS,
• the type-setting report for carrying out transformation of data from RAS is configured,
• training of staff of BOT Leasing in work with a system is provided.

Key users of BOT Leasing prepare the reporting under IFRS on the basis of credentials in the specialized information system allowing to analyze any report on all making transactions that positively affects quality of the prepared reporting now.

"Thanks to automation terms of preparation of the reporting under international standards were significantly reduced, and accuracy of the data of the international reporting does not raise doubts any more — Svetlana Shibayeva, the chief accountant of BOT Leasing company notes. — Creation of an information system allowed to strengthen significantly quality control of reporting data".

"Due to implementation of the standard solution "Homnet Leasing of IFRS" users of BOT Leasing received full-fledged methodology of accounting according to IFRS which was successfully implemented in the software product and did not demand additional investments in development, preparation of functional technical requirements and testing from the customer — the expert Homnet Leasing Semyon Shteynman comments. — At such approach users receive reliable, documentary, not expensive in service and an industrial system, independent of a team of developer implementers, thanks to exhaustive study of methodology and functionality of the standard solution. Behind such projects — the future of automation of leasing".