31 october 2012
GMCS automated IFRS for E.ON Russia
GMCS announced about completion of the next project for E.ON. 

Within the corporate system of financial and economic management based on  Microsoft Dynamics AX 2009 there were automated process of IFRS reporting formation. It allowed to reduce terms of IFRS reporting formation: consolidated reporting for Holding E.ON AG and stand-alone reporting of the company; to increase efficacy of audit, as well as to transfer management accounting in IFRS.

The project was carried out by stages. In January of 2012 it was launched the solution functional for accounting of fixed assets and unfinished construction. The next stage included the automation of data transfer from RAS to IFRS, as well as process of the reflection of the IFRS adjustments. For the moment of the project completion consolidated IFRS reporting for the third quarter in E.ON Russia was formed already with using tool implemented in Microsoft Dynamics AX 2009.

Today, corporate information management system of E.ON Russia has fully completed business processes of consolidation of financial IFRS reporting with revision of the initial data in the set system rules. Implemented solution allowed to reduce significantly the burden on the personnel during the reporting period, to increase the effectiveness of the audit process in order to ensure the required level of detail management reporting information.

About E.ON Russia

E.ON Russia was founded in 2005 on the basis of five power stations. The Company incorporated Surgutskaya GRES-2, Berezovskaya GRES, Shaturskaya GRES, Smolenskaya GRES and Yaivinskaya GRES with the aggregate capacity of 10345 MW. There is one more branch of E.ON Russia- Thermal supply network of Berezovskaya GRES, which supplies thermal power to consumers in Berezovskaya GRES activity area.
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