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Methodology issues of IFRS accounting: payment schedules calculation

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Methodology of IFRS accounting: accounting changes in provisions of a lease

Homnet Leasing IFRS

Homnet Leasing IFRS is an expert branch solution for automation of the parallel IFRS accounting in leasing companies of different specificity and scale of activity. This creation of the company is the only one IT product in its field. It accumulates best IFRS accounting automation experience in the biggest leasing companies. Homnet Leasing IFRS solution is absolutely compatible with Homnet Leasing 8 solution.

Homnet Leasing IFRS gives an opportunity of making entries translation from Russian Accounting Standards and provides with correct reflection in the leasing agreement events reports according to IAS 17 standard.

Homnet Leasing IFRS realization conception 

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Methodology of parallel accounting of leasing operations is realized according to the principle of double record making in the separate chart of accounts. The automated accounting is carried out according to following sections:

  • financial and operational leasing
  • owned fixed assets, deferred expenses and intangiable assets
  • other sections of accounting if its Russian Accounting Standards and IFRS methodologies coincides (materials, other income, expense and so on)

According to the payment schedules and Russian Accounting Standards accounting data the following operation are reflected in packet mode:

Homnet Leasing IFRS users:

VTB Leasing
MAN Financial Services Caterpillar Financial
BOT Leasing
IVECO Capital
Cisco Capital

  • leased assets receipt and additional expenses (included in the leased assets cost)
  • leased assets transfer
  • leasing payments debts calculation
  • leasing financial income recognition
  • fixed assets disposal (with recalculation of the schedules according to IFRS)

Advantages of implementing and using the solution

  • minimization of the IFRS report preparation time
  • increase of the reports authenticity
  • minimization of the human factor influence due to formalization of the reports forming algorithm
  • full realization of the analytical accounting
Order more information on Homnet Leasing IFRS product