PREPARATION OF THE FINANCIAL REPORTS IN ACCORDANCE WITH IAS
Many Ukrainian companies face the need to prepare financial reports in accordance with the international standards (IAS), including:
- Companies with foreign investments
- Companies wishing to get credit (in the Ukrainian and foreign financial institutions)
- Companies planning to attract foreign investors (shareholders)
- Companies planning to enter the international financial markets, etc.
The company offers qualitative services in accordance with the IAS (International Accounting Standards). It is necessary to regularly submit reports about the company’s activities to the corresponding institutions, that is why the company spends a lot of time preparing financial documents. Also it is necessary to be sure that the documents, prepared in compliance with IAS, meet requirements of each institution, where they are submitted.
EBS provides services relating to transformation of the financial statements to various standards, including IFRS (AIS), UK GAAP, USA GAAP, Canadian GAAP. Our specialists are experienced in usage of different accounting standards for accounting maintenance and financial statements preparation.
In our work we use our own financial statements transformation methods. These methods enable us to quickly and with minimum usage of the company’s internal resources make qualitative financial statements, prepared in compliance with the requirements (or internal standards of other countries), which will help to search and attract investments and allow to provide investors, partners and other users with the necessary financial information.
IAS Ukraine List of our Services
The service relating to IAS, like most of the services provided by our company, is provided on stage by stage basis — the first stage includes a plan, which will be further used by EBS. So the IAS project consists of the following stages:
- Review of the specific character of the company’s business and accounting condition
- Collection of the primary information relating to the ledgers
- Processing of the primary information, detection of the transactions, which require additional information from the company
- Adaptation of the financial statements transformation model to the specific features of the company and data input
- Detection of the transactions, which shall be corrected in compliance with the international standards and their correction
- For holding companies — correction of the transactions between the associated legal entities
- Preparation of the final forms for the financial statements — balance sheet, income statement, cash flow statement, capital statement
- Preparation of the final report with the comments
- Provision of the unbiased information about financial condition of the company in the form, which is comfortable for the foreign partners
- Display of the real cost of assets and liabilities of the company (provided that the client has provided reliable information)
- Development of confidential relations with the foreign partners as a result of provision of reliable and unbiased information
- Additional competitive advantages when considering opportunities to invest in the company.
Cost of the Service
Cost of the service relating to IAS depends on many factors, which influence the final cost: Adaptability of the client’s financial statements to he international standards, condition of the financial system at the moment when the client addresses EBS, etc. In any case the financial statements, prepared by our team, will help to save time and efforts of the managers and employees, allowing them to deal with the issues which are the most important for development of the company.