Success story

Management of lease agreements according to FAS 25 and IFRS 16 for AgroInvest

Project for setting up the management of lease agreements for accounting purposes in accordance with the requirements of FAS 25 and IFRS 16.

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Client

"AgroInvest"

Industry and period

Agricultural enterprise. Period: 09.2022-02.2023.

About the client

The AGROINVEST Group is a company specializing in the cultivation of grains and oilseeds, open-ground vegetables, horticulture and livestock farming.

Tasks

  • Description of the solution and typical processes with wiring diagrams.
  • Setting up a module for managing lease agreements based on RE-FX for accounting for lease agreements in accordance with FAS 25 and IFRS 16.
  • Data migration using standard SAP tools.
  • Preparation of functional specifications for development.

Results

  • The processes of accounting for contracts have been automated in accordance with the standards of FAS 25 and IFRS 16, taking into account the specifics of the company: share leasing and leasing from third parties.
  • The efficiency and speed of preparing reports under IFRS 16 are increased by 4 times compared to manual assembly in MS Excel.
  • Timely and transparent reflection of modifications under lease agreements was ensured.

Connection with SAP migration → 1C

This project is important for the SAP → 1C direction as an example of RESTART’s experience in complex enterprise landscapes: accounting, contracts, property, reporting, methodology, integration, control procedures and work with users. When switching to 1C, such experience helps not to lose SAP business logic, but to correctly translate it into the target architecture of 1C:ERP, 1C:UH, BI/DWH and related solutions.

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Describe the task, current systems, constraints, and expected results. We will offer a practical first step: diagnostics, pilot, audit, roadmap or project team.

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