Specialised solution for parallel accounting in mySAP ERP system

FBK’s specialists have developed and implemented a parallel accounting methodology according to US GAAP/IFRS standards based on the automated mySAP ERP system.

The work involved the construction of a parallel accounting system according to US GAAP/IFRS standards based on the SAP R/3 system for the purpose of generating local reporting and a consolidated package of reporting information for submission to the parent company.

The functionality of the SAP system makes it possible to:
  • • Describe business transactions drawing on a significant amount of analytical criteria;
  • Assess business transactions in different currencies;
  • Keep parallel accounting of individual types of business operations;
  • Transform and generate reporting information in different analytical breakdowns.

This functionality made it possible to develop a methodology for the transformation of real time accounting information for the generation of financial statements according to US GAAP/IFRS standards, and also to develop a full scope of the reporting forms and disclosures according to US GAAP/IFRS standards.

Within the framework of a project FBKs specialists perform comprehensive analysis of the customers business processes and develop a Package of Methodological Documents (PMD), including the following documents:
  • accounting model of the company (full description of the business transactions of the Company structured by business processes and their implementation in the existing system);
  • accounting policies according to US GAAP/IFRS standards;
  • forms of the financial statements and disclosures according to US GAAP/IFRS standards;
  • US GAAP/IFRS working chart of accounts;
  • compliance map (mapping) of the accounts of the working chart of accounts with the indicators in the system used to describe business transactions.

This approach to the implementation of the automation project makes it possible:
  • to automate the generation of financial statements according to US GAAP/IFRS standards;
  • to reduce the timeframe for generating and submitting financial statements according to US GAAP/IFRS standards to the parent company;
  • to increase the quality of the reporting information;
  • to reduce man hours on the generation of financial statements according to US GAAP/IFRS standards.

Contacts:

For more information on our IT-consulting services and services in implementation of information systems please contact:

Valeria Polyakova, FBK Consulting Partner
e-mail: PolyakovaV@fbk.ru

Elena Solomatina, Director of FBK' IT-consultancy department
e-mail: SolomatinaE@fbk.ru

You are also welcome to leave your inquiry online

Tel.: +7 495 737-53-53
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