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BIT.FINANCE.IFRS

Software product for accounting automation and report formation according to IFRS

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BIT.FINANCE.IFRS — is a full-function software product for accounting automation and report formation according to the International Financial Reporting Standards (IFRS).

The system is designed for:

  • building IFRS accounting on a separate chart of accounts;
  • organization of multicurrency accounting;
  • automated formation of accounting entries according to IFRS o the basis of mapping;
  • organization of parallel accounting for a range of segments (fixed assets, intangible assets, financial leases, financial instruments etc.);
  • forming reports on comparing RAS and IFRS data;
  • formation of the whole IFRS reports package.

Report formation according to IFRS

Report formation according to IFRS

Tasks that you can solve with BIT.FINANCE.IFRS

  • Maintaining both regulated financial and tax accounting records as well as IFRS records in a single base;
  • Forming accounting entries according to IFRS chart of accounts online while entering source documents;
  • Performing parallel accounting of fixed assets according to IFRS: permanent assets, intangible assets, financial leases, investment property, fixed assets for sale);
  • Performing parallel accounting of financial instruments according to IFRS;
  • Calculating deferred taxes according to IFRS by a balance method;
  • Fast close according to IFRS;
  • Calculation of income and expenses according to IFRS, that are not reflected in RAS due to the different representation rules (Accruals);
  • Reports formation on comparing RAS and IFRS data;
  • Report formation in any foreign currency and in any language;
  • Formation of the whole IFRS reports package.

The results of the implementation

  • Reduction of time needed for preparation of IFRS accounting reports;
  • Automated IFRS accounting system;
  • Decreased labor costs of report formation;
  • High accuracy of data due to the decrease in the number of errors;
  • High detalization of data.

Compatibility

  • 1C:Accounting PROF,
  • 1C:Accounting CORP,
  • 1C:Complex automation,
  • 1C:Manufacturing enterprise management (1C: ERP),
  • 1C:ERP 2

Other BIT.FINANCE products

BIT.FINANCE.Management accounting. A universal financial management tool for the corporate sector. Learn more >>

BIT.FINANCE.Prof. A full-function solution for budgeting the activities of a company.

BIT.IFRS case. The solution includes a range of ready-made settings and methodological guide for prompt implementation of IFRS accounting system.

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Version Description Price
Standard A fully functional solution for cash management with the help of a centralized Treasury. 50 000 RUB
PROF A fully functional solution for automation of budgeting in a company. Designed for formation of all kinds of budgets. 150 000 RUB
Management accounting A solution for management accounting, contract management, master-budgets, data consolidation. Has the full functionality of Standard, Prof and IFRS versions. 350 000 RUB
Holding A flagship solution of BMP (Business Performance Management) class for managing the effectiveness of a business and building a complex model of financial management in a holding. 1 000 000 RUB 500 000 RUB
For 1C: Trade management 8 An integrated addition to “Trade management 8” (ver. 11) typical configuration. Designed for automation of management accounting of trading companies and allows to solve the tasks of operational and financial accounting in complex, ensuring effective management of a modern trading enterprise. 350 000 RUB
IFRS A fully functional solution for accounting automation and report formation according to international financial reporting standards on 1C basis. Is integrated in any of the popular 1C programs and allows to reduce the time spent on preparation of IFRS accounting reports by 70%. 185 000 RUB
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Our clients

All clients

Linxtelecom

The main specialization of the Company is data storage and processing, telecommunication services and cloud solutions

Shopping Live

German teleshopping company. The teleshop has more than 100 000 goods in its assortment and broadcasts a shopping program 24/7

Heineken

HEINEKEN Russia — is the Russian branch of Heineken N.V. international holding — the leading international brewery company with branch offices in 71 countries.

Innothera

A French pharmaceutical company, engaged in modern developments in the sphere of treatment of the majority of the widespread diseases.

Keysight Technologies

A major supplier of radio equipment, oscillographs, equipment for general use, solutions for engineering and modelling.

I-T-R (TIRE PROS)

Japanese general trading company. A chain of stores, numbering more than 500 tire centers throughout the world. This chain is an official partner of the world’s largest tire manufacturers.

TP-LINK

A global provider of SOHO&SMB networking products and the World’s No.1 provider of WLAN and Broadband CPE devices, with products available in over 120 countries.

Containex-Monolit

Containex-Monolit has been manufacturing containers for more than 30 years. The company has become one of the largest producers in Europe and Russia.

Testimonials

“Implementation of BIT.FINANCE.IFRS has allowed us to improve accuracy and transparency of financial reports and operations, release the employees of the financial department from manual work. All the necessary functionality was implemented with the minimum amount of modifications, which decreases the costs of owing and maintening the product.”
V. Burmistrov,
Head of Business-Processes Control Group, Shopping Live
“We chose 1C:Enterprise 8 platform because we had already worked with its previous version, and it was very important for us that the product was widely used. While choosing a partner, we took into account his experience in implementation of similar projects for foreign companies. That is why we chose First BIT”.
Mauro Roncoroni,
coordinator of IT-projects in Artsana S.p.A. in Eastern Europe and in the West
"We got aquainted with the system and we have understood, that this is exactly what we need, QlikView allows to get information from any accounting systems, it can combine and differentiate data, represent it in diagrams, graphs and ready-made reports, which is very convenient".
Mehmet Bodur,
Product Director, Tommy Hilfiger Europe B.V.

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