Accounting Compliance

Accounting Compliance

Accounting Compliance

 

Accounting and preparation of financial statements is performed in accordance with the requirements of the Ukrainian accounting standards and legislation. It is also possible to maintain accounting records / prepare financial statements in accordance with International Financial Reporting Standards (IFRS).
 
The service may include the following:
 

  • Review of the primary documents and their recognition in the accounting system. For this purpose we use the mostly used accounting software (Microsoft Navision, SAP, etc.);
  • Preparation of financial statements in accordance with the Ukrainian Accounting Standards and, where necessary, IFRS and/or US GAAP (US Generally Accepted Accounting Principles). Reconciliation of accounting (reporting) data prepared under various accounting (reporting) standards.
  • Preparation and submission of mandatory statistical reports;
  • Development and implementation of accounting policies for an entity;
  • Deferred tax calculation;
  • Communications and reconciliations  with contractors, gathering incoming primary documents;
  • Preparation of the internal primary documentation (registration of business trips, waybills, write-offs and internal inventory relocations, etc.);
  • Treasury services (bank accounts management – preparation of bank payment orders and/or requests to perform necessary payments, as well as communications with the banks).
  • The list of necessary services and the order of cooperation shall be agreed with each client individually depending on your needs.

Key Contact

Viktor Nevmerzhitsky

Viktor Nevmerzhitsky

Tax & BSO Partner
View bio

FAQ (Frequently Asked Questions)

IFRS — the international standards that govern the preparation of financial statements on a global scale.

Microsoft Navision — an accounting and financial management software solution that is utilised by international companies.

SAP — a software framework for integrated business process management, including accounting.

US GAAP (Generally Accepted Accounting Principles) — the generally accepted accounting principles in the United States.

Deferred Tax — the tax arising from differences between the accounting and tax accounting that is payable in future periods.

Treasury Services — a set of activities aimed at managing company’s bank accounts, preparing payment documents and communicating with banks.

Accounting Policy — a framework of principles, methodologies and procedures that delineate the accounting practices of a company.

Primary Documentation — the documents that record business transactions of a company (e.g. invoices, delivery notes, acts, waybills, etc.)

Financial statements — a set of documents that reflect a company’s financial position and performance for a specific period.