Preparation of the financial (accounting) statements in accordance with RAS in a shorter period, specified by the Client, to make efficient management decisions.
PURPOSE
SUBJECT
Financial (accounting) statements under RAS.
GOALS
- Identification and analysis of the factors leading to time increase in statements preparation (external, internal and automation factors).
- Expert findings on options for reducing time on statements preparation.
- Development of algorithm for solving the problems caused by these factors.
- Assistance in procedures for implementation of the Project results and expert analysis of the Project implementation effectiveness.
PROCEDURES
- Coordination of Terms of Reference for the Project implementation, including the composition of the financial (accounting) statements and terms of their preparation.
- Estimation and approval of the Project parameters (price, timing, expert team).
- Approval of the Project Working team with the participation of the responsible persons of the Client, Cooperation Order and arrangement of introductory meeting.
- The Project implementation according to the approved Terms of Reference, including:
- Study of document flow, enhancement of Schedule on document flow in part of linking business operations with the assigned persons;
- Determination of income and expenses with applicable forecasts (provisions), development of estimation methods and the Regulations on timely submission of information to the accounting department;
- Development of the Regulations for the control procedures;
- o Expert support of the “fast close” procedures in the first reporting period.
RESULT
- Fairly prepared financial (accounting) statements under RAS in a shorter period.
- Expert assessment of the internal control system.
- Identification of areas for possible optimization of the related business - processes.
- Ability of operational reporting for:
- preparation of financial statements under IFRS on a regular basis;
- comparison of budget performance (plan / actual);
- assessment of the tax burden trends.