Examples of implementation projects
FBK’s specialists performed work aimed at constructing a parallel accounting system according to US GAAP/IFRS standards based on the SAP R/3 system for the purposes of generating management reporting and a consolidated package of reporting information to be submitted to the parent company.
The functionality of the SAP R/3 system made it possible to develop a methodology for transforming real time accounting information to obtain management reporting according to US GAAP/IFRS standards, and also to develop a full scope of reporting forms and disclosures according to US GAAP/IFRS standards.
Within the framework of the project FBK’s specialists performed a comprehensive analysis of the Company’s business processes and developed a Package of Methodological Documents (PMD), including the following documents:
- accounting model of the company (full description of the Company’s business transactions structured by business processes and implementation in the existing system);
- accounting policies according to US GAAP/IFRS standards;
- reporting and disclosure forms according to US GAAP/IFRS standards;
- US GAAP/IFRS working chart of accounts;
- compliance map (mapping) of the working chart of accounts with indicia in the system used to describe the business transactions.
This approach to the implementation of an automation project enabled the enterprise:
- to automate the reporting process according to US GAAP/IFRS standards;
- to reduce the timeframe for generating and presenting reporting according to US GAAP US GAAP/IFRS standards to the parent company;
- to raise the quality of the reporting information;
- to reduce labour input on the generation of reporting according to US GAAP/IFRS standards.
Major gas production enterprise (Microsoft Dynamics AX)
The creation of an automated system for generating consolidated tax reporting in accordance with the requirements of Chapter 25 of the RF Tax Code on the basis of Microsoft Dynamics AX:
- Analysis of the tax accounting methodology of the Client, improving and adapting the methodology for subsequent implementation in the automated system;
- Modelling of the business process “Generation of reporting for income tax” in the ARIS environment;
- Conceptual design and configuration of the automated system;
- Training of key users and system testing;
- Support for the automated system during pilot operation.
Major heat power generation company (1C)
As part of the provision of services relating to the development of the accounts fast close procedure and the maximum reduction in the time required to compile financial statements according to the International Financial Reporting Standards, compile the Accounting Policy for the purposes of IFRS-compliant perpetual inventory, with due account of the decentralisation of the accounting and reporting of six branches of the Client, we performed the following work:
- Analysed the current status of the accounting systems of the branches;
- Analysed the procedure for collecting and consolidating data;
- Established system requirements;
- Developed the Terms of Reference for implementing 1С.
For more information on our IT-consulting services and services in implementation of information systems please contact:
Valeria Polyakova, FBK Consulting Partner
You are also welcome to leave your inquiry online
Tel.: +7 495 737-53-53
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