ACA Bureau specialists are highly oriented to customers and differ by fast reaction to our requests.

The company has shown competence in dealing with complex issues of accounting and taxation, qualified approach and assistance in the preparation of foreign trade contracts and other documentation.

A. Nagirnyak, LTD "Motortech Ukraine"

We ascertain the professional skills of the ACA Bureau's staff and the desire to do the job with the highest quality.

Attentive and warm attitude to the client, work execution in time allow us to feel certain in terms of accounting and tax reporting to banks, contractors, tax authorities and leasing companies.

Y. Tutunnik, LTD "KCR Ukraine"

Over 9 years of partnership ACA Bureau perform all the necessary accounting work and financial reporting at high level.

We can contact the experts at any time and get professional help, not only in the field of accounting and international finance, but also in dealing with any legal issues.

Ondrej Formanek, TTC MARCONI

International standards of accounting and financial reporting

Application of international standards of financial reporting is the way to ensure a transparence of your business, it improves comparability of business indicators and consequently it makes possible to fulfill a comprehensive financial analysis.

Financial reporting based on International Financial Reporting Standards (IFRS) is one of the important steps that bring to the companies an opportunity of familiarizing with the international markets of capital. The companies with the relevant reporting systems get an access to the internal and external sources of financing necessary for their further development. The companies with an inadequate reporting system get the status of unreliable as for foreign investors, and cannot be considered as perspective participants among the competitors for capital. In addition, investors get real opportunities to check and control provided investments through the system of financial reporting.

Application of IFRS can be useful also for those companies that have not entered yet western financial markets. In this case the main targets are:

  • to provide manager’s staff with an absolutely adequate financial information and thus to raise management efficiency;
  • to insure competent communication with the market and shareholders;
  • to strengthen the system of corporate behavior and credit to management.

It is also reasonable to apply IFRS in the companies where the proprietor has no representatives in the company’s management staff and is forced to be content with business information obtained from the financial reporting.

Our experts develop an integrated system of preparation and presentation of the financial reporting considering changes in IFRS system and tendencies of the company development.

 

Financial reporting according to IFRS and US GAAP

Selection of one of these methods is usually caused by the implicit expenses and purposes of IFRS application in the company. The more widely the financial information is going to be used (for example, for the purposes of administrative recording and budgeting), the more often the companies choose the second method. Moreover, parallel conducting is more effective as allows the company to build a system of the internal reporting on the same principles as the external.

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Drawing up of the consolidated financial reporting according to IFRS

A consolidation of financial reports means the preparation of the uniform report generalizing information of the parent company business activity and its branches. The main purpose which the companies usually pursue choosing the consolidated reporting is to give to investors, creditors, proprietors a full range of business indicators and business statements for the most competent understanding and transparency.

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