Our company can offer professional conversion of financial statements according international standards. Requirements to provide documentation prepared in accordance with International Financial Reporting Standards (IFRS) usually arises when company are entering in the international market.
IFRS is a list of standards that determine the procedure for preparing financial statements for economic interaction. The IFRS-compliant reporting allows shareholders to make strategically sound economic decisions, and investors to assess the risk and profitability of the company more precisely.
Preparation of Financial statements in accordance with International Financial Reporting Standards (IFRS) is very essential and obligatory step if your company is interested in:
- accessing to international markets
- escalating the efficiency of activities
- obtaining accurate, complete and transparent information for making the right management decisions
- attracting of credit resources and foreign capital
- listing of shares on international exchanges
- enters or plans to enter an international holding
The main distinctive feature of IFRS from reporting under Russian standards is the level of information disclosure, whereas in addition to standard reports on balance sheet, loss and profit, changes in assets, all aspects of the accounting policy to be disclosed. Application of accounting systems that allow to keep records in parallel: according to Russian and International standards, makes reporting on international standards more effective.
If such systems are not yet been implemented, but the need for IFRS exists, the Russian reports are being conversed. During the transformation, the statements are being prepared on the basis of Russian accounting standards data, the factors are recalculated, corrections are made and some classifications are changed. The conversion is carried out once at the end of the reporting period. This method of transferring accounting from Russian standards to International is less expensive, since it does not require the installation of specialized accounting systems, the maintenance by large number of staff and the daily data analysis.
Our specialists will prepare for you reporting on IFRS, using the methods that most closely correspond to your company's accounting policies and management's position with regard to assessing the facts of economic activity.
We guarantee high quality of performance due to high professionalism of our specialists in IFRS and as well due to individual approach to each client.
You are welcome to consult with our specialists,
by calling on any contact phone: 8 (81369) 26-005,22-880,
or contacting by e-mail: firstname.lastname@example.org