OGK-1 (IFRS)

In 2007-2008 FBK’s specialists provided services relating to the development of fast close accounting procedures and a maximum reduction in the timeframe for generating the financial statements of OJSC OGK-1 under RAS and IFRS. The project also included services relating to the generation of the Accounting Policy for the purposes of IFRS-compliant perpetual inventory in cases where accounting and reporting are decentralised.

As a result of the project, the main goal was attained – reduction in the timeframe for generating the financial statements several times compared to the existing procedure and attainment of the (target) timeframe established by management of the organisation for the preparation of the company’s RAS financial statements and IFRS consolidated financial statements.


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