Management/Group Reporting for a Russian subsidiary
With the Russian Statutory Accounting based on informing the tax office rather than the business owners, the standard Russian (tax) reporting does usually not provide company management with the needed financial information.
At LowLands Accounting Services however we can provide you with financial reports tailored to your individual requirements in terms of currency, language, frequency and accounting standards. Once you have provided us with the required format, we will prepare weekly, monthly, quarterly and/or yearly output accounting reports, including the reconciliation between statutory and management reports.
Depending on the level of integration needed we support the provision of Management/Group reporting through:
Translation of standard Russian reports from Russian into other languages
Adaptation of the Russian chart of accounts to the chart of accounts in use for management/group reporting
Full transformation of the Russian accounting to the management/group reporting standards
Full transformation with additional reporting for f.i. project administration
Fully integrated IFRS module into the standard Russian Accounting system
In most cases the management/group reporting is an individual solution, set up through a close collaboration between the finance department abroad and our English speaking reporting consultant. Once set up, our reporting managers commit to providing in-time, high quality, transparent reporting.