BIT.FINANCE.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 on 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 (Russain Accounting Standards) and IFRS data;
• formation of the whole IFRS reports package.

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