As part of the task block on adapting the information system for Luch LLC to accounting in accordance with the requirements of IFRS, the following was implemented:
Setting up asset accounting:
• introduction of a flexible depreciation mechanism that allows for correct calculation of depreciation amounts, including when revising the useful lives of an asset, revaluation, impairment, etc.
Set up inventory accounting:
• automating the process of accruing reserves for impairment of stocks.
Set up accounting of settlements with debtors and creditors:
• development and implementation of an algorithm for automatically switching to accounting of settlements with debtors and creditors on settlement documents. This solution allows the user to receive information about open debts in the context of each document on any date without additional labor costs;
• development of custom reports for the analysis of receivables and payables, expected maturities and delays for making management decisions;
• setting up accounting for the formation of reserves of expected credit losses in accordance with the requirements of IFRS 9.
Accounting for long-term receivables and payables:
• setting up accounting of settlements on loans issued to employees, calculation and depreciation of a discount both on initial recognition and as a result of modification;
• automatic formation of long-term and short-term components;
• calculation and depreciation of the discount of long-term trade receivables and payables.

An adaptation of the accounting information system for LUCH TOV
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