The system supports both Russian accounting systems and fully realised accounting under IFRS simultaneously. This excludes the need to implement and integrate two different information systems. Meanwhile, the cost of the software, which is based on the 1C:Enterprise 8 framework, is far lower than that of foreign vendors.

1. Moscow 2016
1C: Enterprise management (ERP) 2
Opportunities for IFRS and managerial
accounting automation

2. Are you acquainted with difficulties of financial
accounting in international companies?
RAS
Translator
Head of regional
department CEO in head office
RAS
accountant
IFRS specialist
IFRS
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3. Most companies based in Russia and the CIS experience these
problems when maintaining accounting by IFRS:
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Corporate information system does not support simultaneous accounting in line
with a range of standards.
Increased managerial costs on parallel accounting maintenance to national and
international standards.
Difficulties experienced converting accounting reports prepared in line with
national standards into financial reports conforming to IFRS rules.
The impossibility of generating a fully-fledged accounting analysis, due to the
inability to monitor figures in real time.
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Accounts are prepared in MS Excel, while RAS reports have to be translated into
IFRS by efforts of bilingual company employees.
Errors, discrepancies, chaos and other problems arise. Financial specialists have to
translate and prepare manual explanations of reports.
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4. But we already have a solution!
The flagship 1C: ERP 2 system gives you fully automated operational accounting
and integration in a single system that caters for both national and international
standards.
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5. Key advantages of 1C:ERP 2
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The RAS/IFRS chart of accounts can be customised, and postings by financial
accounting groups automated.
A fully fledged ERP system covers all areas of accounting, facilitating extensive
business automation and providing detailed analytics.
You can “disable” Russian-standard accounting. The system supports various legal
requirements and most currencies.
The solution may be customised quickly at an affordable price.5
The English user interface and ability to catalogue data in the user's language
allows employees speaking different languages to work in a single system.
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6. What are the exact benefits that your company will get after
implementing 1C: ERP 2?
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Enhanced accounting module flexibility, the ability to define charts of accounts,
accounting rules and reporting forms
A decrease in the cost of expensive Western software maintenance
The avoidance of human error due to minimising manual operations and
corrections
Two-threefold reduction of labour effort and time preparing reports
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7. Other reasons why 1C: ERP 2 compares favorably with Western
solutions
There are no enough Western software specialists in the provinces.
Western systems are expensive to implement and maintaining. It takes a long
time to get feedback from a vendor after making a request.
Expensive licenses and annual fees.
1C license prices are much cheaper than Western analogues.
Western systems are oriented to Western business processes: that's why they
require customising even for routine work to Russian standards. Employees
have to keep some accounts in MS Excel. Western solutions do not have
enough industry-specific modules.
Certain Western solutions fail to meet modern requirements and are expensive
to customise.
Most Western systems do not support Russian accounting standards accurately.
This usually means keeping accounts in separate systems or configuring data
according to Russian standards, which is costly.
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Unique opportunities for RAS/IFRS accounting using 1C: ERP 2
Parallel accounting
by RAS and IFRS
Snooping lets you reflect all
the RAS transactions in
international accounting
Report transformation loses
the need for parallel
accounting and lets you
generate reports by IFRS

9. Expenses accounting analytics structure using 1C: ERP 2
Maximum flexibility/breakdown of production costs accounting as an example
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10. What enterprises may this solution be interesting to?
To enterprises belonging to complex technological and knowledge-intensive
industries, requiring deep accounting and management automation with difficult
planning and self-cost calculations, using project management.
To joint venture companies using foreign capital, providing international
accounting reports or working in the international market.
To companies using out-of-date enterprise resources management systems,
without Russian accounting support.
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11. Many companies are already benefiting from comprehensive
accounting based on 1C: ERP 2. Why don’t you try it too?
We will be happy to tell you about our projects and to showcase references from
our customers.
To find out about our customer success stories and case studies on implementing 1C:
ERP, while maintaining IFRS accounting, send us a request via the feedback form on
our website - http://up2erp.today/en/company/contact-us.
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12. Try the system right now!
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We‘d like to invite you to take part in a free 1C: ERP 2 test-drive. To get access,
follow the link http://up2erp.today/en/free-demo and fill in the feedback form.
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Our experts will contact you within 24 hours, and will arrange a demonstration of
the system, estimating the cost and deadline for configuring the system according
to your individual wishes and corporate requirements.
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You will get a chance to use our fully operational ERP system for 14 days,
absolutely free of charge!
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13. Thank you for your attention
Smart ERP Projects
office: +7 (495) 374-61-58
www.up2erp.today
Email: sales@up2erp.com
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