Preparation of reports according to international standards

Preparation of reports according to international standards

Ukrainian companies with foreign investments, business entities that plan to enter the international financial market, lend to national or foreign banks are faced with the need to use international financial reporting standards (IFRS or IFRS). According to the law, from 2019, mining enterprises, PJSCs, insurance companies, banks, NPFs are obliged to switch to standards. Preparation offinancial statements according to IFRS , transformation of reports prepared according to national standards ate the services from the UCMS Group company.

We bring expertise and experience to your business, and you focus your energy on core activities, talk with international partners on an equal footing, fight for foreign investment in a competitive position.

Approach to preparing financial statements in accordance with IFRS

Reporting in accordance with IFRS requires a thorough knowledge of the set of established rules, compliance with the requirements of each instance. It takes a lot of time. At the beginning of cooperation, we analyze the specifics of the customer’s activities, the current accounting system, and help in building accounting.

Based on the expertise a technological solution for fast transfer is of IFRS for outsourcing is developed.

This approach allows you to effectively control the internal process of forming the results of activities, promptly provide data to local management, foreign management, and auditors.

You can order maintenance of IFRS in full with forms, detailed working files, or separate modules for selected components, support at the stage of implementation of the first transition to international reporting standards.

When forming documents, management accounting, the impact of the chosen approaches on tax accounting, long-term and short-term business prospects are taken into account.

Package of services

IFRS outsourcing with UCMS Group includes the following services:

  • collection of data taking into account IFRS and corporate requirements;
  • verification of financial statements in accordance with IFRS;
  • development of accounting policies, optimization of future work;
  • adaptation of the transformation model to the customer’s system;
  • adjustments of transactions in accordance with IFRS requirements;
  • formation of final reporting forms.

The list of services is adjusted depending on the requirements of clients. UCMS Group can help with the selection of software for transformation, automation of reporting, training of accounting employees to form their own profile team, checking the level of readiness for audit.

Cost of maintaining IFRS is determined individually. The cost of services is agreed with the customer before the start of the project and is fixed in the contract.

Benefits of outsourcing IFRS

UCMS Group is a leader in outsourcing of preparation offinancial statements according to IFRS . The experience is diverse in terms of business sectors, customer company structures. The service process is transparent. The information is provided to the client in a format convenient for analysis.

Arguments in favor of outsourcing:

  • unambiguous interpretation of the results of economic activity in a form convenient for foreign partners;
  • competitive advantages in foreign investment, lending;
  • reduction in labor costs;
  • guarantee that the work will be completed on time;
  • independence, objectivity, reliability of financial data;
  • improving the professional level of accountants in the process of interaction with external consultants;
  • solution of methodological problems during the first transition to IFRS.

Contact us to start cooperation.

5 advantages of UCMS Group

  • extensive practical experience, proficiency in professional techniques and technologies;
  • an objective approach to analysis, reporting;
  • obtaining information in a form convenient for analysis;
  • receiving reports on time, which allows you to prepare for a tax audit and correct problem areas;
  • consulting, readiness to solve non-standard problems.