FARABI Facilitates Work of Accountants and Financiers

The second phase of implementation of the automated information system FARABI (Financial and Accounting Statements for budget organizations) has finished.

As noted in the press release of the Ministry of Finance of Azerbaijan implementing the project supported by the World Bank, it will maintain a central finance and accounting in the structures financed from the budget, based on "cloud computing." The project is carried out by local staff from the company SINAM. All the documentation is based on the national accounting standards and International Financial Reporting Standards.

Total for the second phase of the project from 2012 to the reporting period of the year there were connected 102 organizations, including 75 state-run entities and 24 high schools, in which the ERP system was developed to support direct integration with the Ministry of Taxes, the State Social Protection Fund and the Ministry of Finance. This merger is part of a component-based G2G (government-government) the concept of "e-government", the statement said.

With reference to the chief adviser to the financial and economic department of the Ministry of Health Rena Jamalova, it is said that with the implementation of these standards through a variety of modules payroll and various payments are made more quickly and in an automated manner.

The Chief Accountant of the State Technical University Afsar Dadashov finds that the software in the 4-year-old practice saved time and helped get rid of several technical employees in the accounting department (formerly salary was invoiced by 5-6 people, now by two). In addition, the calculation of scholarships took about 10 days, while now - a maximum of 3 days. The Chief Accountant noted a number of advantages. Thus, the earlier count of hospital and other benefits took 2-3 hours, but now everything is automated. Also facilitated is the process of transferring salaries to card payments for social security also provide significant time savings.

The system includes components FARABI SERP for the financial management and accounting modules of "Accounting", "Ledger", "Accounting for personnel", "Accounting for fixed assets", "Payroll" and "Financial Reports". Oracle BI components are used for analytical reporting, Clix LMS - learning courses for managing system users FARABI.

Recall that in March 2008 the WB Board of Directors approved a loan of $ 11 million for Azerbaijan for the project "Reporting in the corporate and private sectors" (CAP / SAP). The funds are provided under the terms of the International Development Association for 35 years with 10 years grace period.

The project costs $ 24 million, including $ 8 million from the Azerbaijani government, $ 3 million from the Japanese government grant and $ 2 million as a grant of Switzerland's State Secretariat for Economic Affairs (SECO). --17D-