Automation of Accounting Under IFRS

Most companies that prepare accounting under IFRS choose such method of converting the national accounting statements as transformation in electronic spreadsheets and data bases (for example, MS Excel). More complicated, but at the same time more precise and qualitative method is to use automated tools for preparation of accounting under IFRS.

We provide services for implementation of automated system of accounting and preparation of financial statements under IFRS.

The program is developed by software specialists with advisory support of audit firm UHY BusinessCollegia LLC on the basis of “1С:Предприятие 8” platform.

Who needs accounting automation 

IFRS standards are actively implemented in the Republic of Belarus. Since 2016 Belarusian public interest entities on a mandatory basis have been preparing statements under the international standards. Generally, presentation of financial statements prepared under IFRS is one of the conditions to attract foreign investments.

IFRS automated accounting:

– enables to reduce expenses for external consultants in order to prepare accounting under IFRS;
– enables to reduce expenses for audit of accounting under IFRS;
– increases capitalization of a company and gives a competitive advantage.