Modernizing accounting systems while implementing corporate management systems

When implementing ERP-systems, we usually revise the methodology for accounting organization and operation in order to optimize organizational business processes. We then integrate these with accounting processes and the new possibilities offered by information systems from the standpoint of accounting and reporting.

As part of this service, we develop or improve the corporate methodology for accounting organization and operation, as well as for financial and tax reporting (RAS, IFRS, US GAAP, tax returns).

We are then able to generate the following documents:
  • detailed accounting policy, including an exhaustive description of the accounting and reporting design, technology and methodology
  • working chart of accounts for the formation of individual and consolidated financial, tax, and management reports within a single information space
  • charts of correspondence between RAS, IFRS and US GAAP accounts, tax accounts, and management accounts - depending on the methodological and systemic volumes of the management information systems implementation
  • parallel accounting methodology (RAS, IFRS, income tax-based tax accounting)
  • corporate accounting standards, journals of bookkeeping entries, workplace charts, tax ledgers, procedures for period-end closing and drawing up reports and tax returns
  • document flow system for the preparation of individual and consolidated reports (forms for non-unified source documents, charts, diagrams, procedures, etc.)

All this work is carried out by integrated teams of consultants/methodologists who implement corporate business applications and have extensive up-to-date knowledge of the theoretical and industrial methodologies for accounting and reporting and for linking up such reporting to other types of reporting within the corporate management framework. Our teams are also very familiar with both the possibilities and the limitations of management information systems.

This approach to designing complex projects facilitates strict control over the whole process integration and ensures a high-quality accounting processes methodology, as well as its autonomy and priority in making decisions concerning specific system setups in which the system’s possibilities and specific requirements are taken into consideration.

A fundamental approach towards improving accounting systems on projects to implement corporate business applications is to integrate them closely with logistics, production, management, and financial systems.



For more information on accounting advisory services please contact:

Valeria Polyakova, FBK Consulting Partner

Elena Tyutyunnikova, director of the accounting advisory department

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