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Software products

Reporting transformation to meet IAS

Business type:

Investment business
Retail business
Wholesale business
Multipurpose business
Nonfinancial organizations

Report Transformation Module is a specialized software system designed to automate the IAS reporting procedure using relaying method.

Solution description and advantages

 

First installation

2004

Customization

Possible

Targetcustomergroup

Anytypeoforganization

Usersupport

Threelevels

During the development process both International Accounting Standards and Methodical Recommendations of the RF CB # 19-Т dated 10.02.2006, On the Procedure of Financial Statements Preparation and Submission by Credit Organizations. The module was developed in cooperation with NOIMARK consulting company.

Statements Transformation Module is a multifunctional system allowing:

  • To create and maintain a unified hierarchic directory of IAS reporting indices 
  •  To perform an adjustable relay of both synthetic and analytic RAS data into IAS reporting showings with full inspection test and result integrity check
  • To obtain additional breakdown of IAS reporting showings by currency and market share. Additional indices monitoring.
  •  To produce statement for one or several organizations taking into account their branches.
  • To generate consolidated statements for one or several consolidation groups
  •  To obtain both basic annual statements and intermediate statements for any number of months from the year start
  •  To form and maintain adjusting entries based on expandable templates.
  •  To set up the showings calculation algorithms according to IAS during the processing of RAS analytic data using alternate ways of “professional judgment” consideration.
  • To set up the structure and algorithms of all desired reports and notes generation using a report designer
  • To output all reporting forms to EXCEL
  • To document all transformation procedures
  • To use alternative methods of “professional judgment” consideration during report generation
  • To use the subsystems of automated calculation of adjustment entries and IAS showings in a standalone mode.
  • “Push-button” software installation and update.

All reporting transformation stages are customizable and easily adapted to meet user requirements:

·         RAS basic data and regrouping rules descriptions are based on an extended chart of accounts and RAS income and expense scheme, which provides for the level of structure detailing of basic data that is necessary for the user and allows to take into consideration any possible time changes to them.

·         RAS data are first transformed into the Main IAS Indices Book that unites all regrouping results received. The Main IAS Indices Book is based on fully customizable unified hierarchic directory of reporting indices whose structure contains the peculiarities of the organization’s accounting policy entered by the user himself.

·         Adjusting entries are formed based on the templates that are pre-set and prepared by the user.  It makes the adjustment entry making procedure much simpler and ensures their succession from one reporting period to another.

·         Whether or not the adjustment entries results should be included in IAS statements depends on their status (“tentative’, “accepted”), which allows the user to assess the final transformation results in “what if” mode.

·         All reporting forms are fully customizable, which allows the user to create necessary notes to the statements independently. Customization of reporting forms is done using a proprietary designer that provides for an interactive description of lines, columns and report generation algorithms.

 

BAS compatibility

The module is BAS-independent and is delivered separately from the BAS.

The module interacts with BAS XXI CENTURY BANK using an export/import mechanism.

Architecture

Three tiers. The components can be installed in any configuration, including that on single workstation.

Database server

MS SQL SERVER 2000, Service Pack 3 or higher

Application server

WINDOWS SERVER 2000 operation system or higher

Workstations

Windows NT,2000, XP operating system

    Site development and design
    «Infodesign», 2006—2019
    115230, Russian Federation, Moscow, Kashirskoe highway, 13B
    Phone (495) 721-19-57 (multichannel), Fax (495) 721-19-58