Accounting and Financial Reporting

Accounting compliance and reporting

The main purpose of accounting is to develop and maintain well-structured financial records of the company’s transactions in accordance with Ukrainian legislation, and to provide the basis for financial reporting and tax accounting.

Outsourcing the accounting function to Russell Bedford RCG, the world’s leading consulting firm, is a perfect solution to avoid the complexities, challenges and risks associated with the above two scenarios:

  • The costs of hiring an employee, including utilities, office equipment, training, accounting programs and other software licenses, are covered by our fees.
  • You no longer need to worry about who is able to replace your accountants when they are absent from work. We are always available!
  • Russell Bedford RCG has a highly qualified team with deep expertise in tax, legal and business consulting, and broad experience working with companies in different industries. Our capabilities position us to rapidly respond to your complex business needs.
  • Upon the completion of services / the termination of our engagement agreement, there will be no need to manage matters related to the dismissal of employees.

We offer flexible pricing tailored to the needs of our clients and the industry in which they work, including:

  • Fixed fees
  • An integrated, multidisciplinary approach

Our suite of accounting outsourcing services includes:

  • Maintaining all the client’s accounting records in accordance with Ukrainian accounting and tax legislation
  • Financial reporting and tax accounting in accordance with Russian legislation (balance sheets, income statements, cash flow statements, statements of changes in equity, notes to balance sheets and income statements; VAT, profits tax, property tax, transport tax and other taxes)
  • Assistance in calculating revenue and drafting shipping documents (acceptance certificates, consignment notes and invoices)
  • Calculations of employees’ taxable income to be included into payroll calculation
  • Drafting employees Expense reports
  • Drafting payment orders either electronically using the Bank-Client system or on paper
  • Assistance in the reconciliation of settlements with suppliers, customers, the tax authorities, etc.
  • Assistance during in-house and on-site audits: collecting, copying and scanning documents, drafting registers and accompanying letters for documents requested by the authorities
  • Assistance during internal audits: collecting, copying and scanning documents, and preparing comments and estimates at the request of the audit team
  • Assistance during external audits: collecting, copying and scanning documents, and preparing comments at the request of the audit team
  • Developing / updating the client’s accounting policies in line with the latest legislative amendments and/or changing business need

Additional services:

  • Preparing corporate reporting in accordance with the specific features of the client’s template
  • Coordinating and overseeing the client’s audit function
  • Technical support of accounting and tax compliance processes
  • Assistance in the preparation of quarterly and annual financial statements in accordance with Ukrainian legislation
  • Assistance in the preparation of a tax reporting package in accordance with Ukrainian legislation
  • Providing technical support for 1C products and enhancing their functionality as part of our accounting services
Working with us you:
  • Advantage from high quality service;
  • Are secured from unforeseen complications;
  • Concentrate on doing Your business;
  • Cut down expenses for accounting software installation and support, salaries, motivation and education of an accountant, workplace creation, and
  • ther everyday expenses;
  • Get confidence in the quality of maintenance of non-core business processes.