IFRS implementation

The implementation of cost of sales and parallel accounting, according to IFRS in six of its foreign subsidiaries (France, UK, Italy, Poland, Spain and Russia) was accomplished by the profine Group and Uniorg Experts in only five months. The corresponding SAP system (R/3 Release 4.7) customizing and adaptations were performed using SAP’s standard accounting structure.
Narrow project timing, in addition to local projects running in parallel in Italy (where asset accounting was implemented simultaneously) and Russia (Local complexity) were a large challenge for the project team.