XBRL reporting

Transformation of the client’s financial statements into XBRL format and provision of consultations

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Quality reporting according to international standards

After the amendments to the Law of Ukraine “On Accounting and Financial Reporting in Ukraine”, all companies that keep accounting in accordance with International Financial Reporting Standards (IFRS) (mandatory or voluntary) are required to submit reports in XBRL format through a single portal (https://frs.gov.ua).

Previously, such requirements were only for companies that prepare reports according to IFRS in a mandatory manner.

Who needs to submit reporting under IFRS in Ukraine

  • Enterprises of public interest
  • Enterprises operating in extractive industries
  • Enterprises that conduct economic activity according to the types from the list set forth in Resolution No. 419 of the Cabinet of Ministers dated January 28, 2000.

Other enterprises may voluntarily choose IFRS for accounting and financial reporting.

Penalties for not reporting

Penalties are provided for failure to submit reports in electronic XBRL format. For example, for the first non-submission, the fine is from one to two thousand non-taxable minimum incomes of citizens (17,000-34,000 UAH), and from two to three thousand (34,000-51,000 UAH) for a repeated violation.

EBS specialists provide such services

  • Transformation of the client’s financial statements into XBRL format
  • Provision of consultations and support in the transformation of reporting
  • Initial development of notes to IFRS reporting

The advantage of preparing reports in this format is not only the absence of fines, because such reporting is more attractive to investors due to its transparency and accessibility. In addition, thanks to the XBRL taxonomy, that is, a system that allows classifying and structuring a large amount of information, it became possible to process databases with a large number of indicators.

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Should contractors be involved in transitioning to an electronic reporting format? Our answer is unequivocal: yes. And here’s why

  • You will receive professional assistance in converting XBRL financial statements in accordance with all IFRS requirements and taking into account practical experience;
  • You will not need to purchase special software for transformation and validation of reporting;
  • You minimize the risk of redrafting the financial statements for the previous period thanks to the consultations of experts who are oriented in all requirements.

XBRL as an investment in company development


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Convenience from XBRL with EBS



Providing reports according to international standards



Minimizing Reporting Errors



Prompt response to customer requests



Optimizing and improving the quality of reporting


Modern approaches

High-level hardware and software



Large amounts of information processing by our specialists



Constant Legislative Tracking



Lessons from Leading Enterprises

We are happy to host a meet and greet meeting and a FREE initial consultation on XBRL reporting






    happy clients


    more successful projects

    Also, the advantages can be attributed to the saving of your company’s resources for the conversion of financial statements, because the employee who performs this procedure will use much more resources: both time and money, respectively. Also, in addition to the service of transformation of reporting into XBRL format and its validation, your company’s specialists will be able to receive professional advice on issues of reporting, tax issues and other.

    Our team of experts with proven expertise in management consulting was one of the first in Ukraine to transform reporting in the XBRL format in Kyiv. That is why, with EBS, even such challenges as preparing an XBRL report become just another step towards the smooth operation of all parts of the company.

    You can order the service at the number or e-mail indicated on the website.