Management reporting to the corporate client's standards

Beterra provides material support to our global HQ in preparing monthly management accounts for the Russian branch.

Our company maintains US GAAP-compliant accounts. Operational decisions in respect of the Russian arm require deeper breakdowns for comparative analysis. We looked for a provider capable of enabling prompt communication between their accountants and the finance department of the head office of our corporate group during the period of a major downsizing at the branch. Beterra's key employees speak English and can provide the communications we need. When closing a month, our financial experts can communicate with the accountants in Russia online and always receive comprehensive feedback on each of the figures in the report.

Thanks to the so-called Reconciliation files, developed by Beterra, we are confident of the fairness rather than formal compliance of information.

We wanted to set up a process of management accounting as per the global policy of our parent international corporation.

Beterra's programmers started by implementing the 1C-based accounting module to international financial reporting standards and setting up account mapping and export of entries from the RAS module.

Now when a month is being closed, the IFRS module makes the necessary accruals and adjustments to the RAS figures for conformance with the US GAAP accounts. Parallel accounts are kept for fixed assets in accordance with the company's policy, for amounts payable to suppliers and for finance lease transactions.

The company can now forecast its financials based on additional itemizations.

Now Beterra enables the import of all data into the ERP systems for global consolidation.