Preparation Of Financial Statements According To IFRS
Accounting in accordance with International Financial Reporting Standards (IFRS) is an essential element of effective financial management for any company. In modern business, more and more enterprises are oriented towards using IFRS. This ensures a more accurate reflection of the company's financial condition and allows for comparisons with other enterprises in Ukraine and abroad.
Our experts have deep knowledge of IFRS and extensive experience in preparing financial statements according to international standards. They identify and accurately reflect all the financial operations of your company, which will help improve the efficiency indicators of your business.
What is included in the IFRS financial statement preparation service?
Our company "First Accounting" provides accounting services according to International Financial Reporting Standards (IFRS)..
The "Preparation of Financial Statements according to IFRS" service includes the following stages:
- Analysis of documentation;
- Determining compliance of data with IFRS;
- Creating clarifying tables and instructions for reconciling information; Compilation of financial statements;
- Submission of the report and consultations;
- Improving the company's financial activities, conducting training seminars for staff on IFRS, and more.
Accounting according to IFRS includes the analysis of financial statements, internal company documents, profit and loss report, cash flow statement, and other financial documents.
Based on the analysis and compliance of data with IFRS, our company's specialists compile financial statements. We make every effort to ensure the accuracy and correctness of the reporting, as well as its correspondence to the actual financial condition of your company.
After compiling the financial statements, the accountants of our audit company provide consultations on its understanding and interpretation. The client also receives a report on the results of the financial statement audit.
We are ready to provide recommendations for improving your company's financial activities, conduct training seminars for staff on IFRS issues, compile instructions and supplements, and provide any additional support that may be needed.
Financial reporting according to IFRS is an important stage that ensures the proper functioning of your business and helps to meet all the requirements of regulatory authorities and interested parties.
Our audit company "First Accounting" is always ready to assist in all financial and accounting matters.
Advantages of cooperating with us in preparing financial statements according to IFRS
The company "First Accounting" has numerous advantages for clients:
- We employ highly qualified specialists with experience working with IFRS and local financial reporting standards;
- We use modern software tools that guarantee quick preparation of reports; Thanks to an individual approach, our specialists always consider the needs and specifics of any business;
- Financial statements prepared by our specialists comply with IFRS requirements;
- Financial statements prepared by us positively affect business operations, allowing you to save time and money;
- All information from the client, obtained during data collection, remains completely confidential and is not shared with third parties.
Contact the "First Accounting" company, and all the documentation of your enterprise's activities will comply with the norms of legislation and IFRS.
IFRS Standards Used in Financial Statement Preparation
When preparing financial statements in accordance with International Financial Reporting Standards (IFRS), it is important to follow certain standards. The use of IFRS helps to ensure uniformity, reliability, and comparability of financial statements of different enterprises in various fields. The specialists of the "First Accounting" company use the following standards:
- IFRS (МСФЗ) - International Financial Reporting Standards;
- IAS (МСН) - International Accounting Standards;
- SIC (ІСК) - Standing Interpretations Committee;
- IFRIC (МККС) - International Financial Reporting Interpretations Committee;
- Conceptual Framework - the fundamental principles underlying IFRS.
One of the key standards used in our work is the International Financial Reporting Standards (IFRS). They define the principles and rules for preparing financial statements that reflect the financial stability and success of a company worldwide.
International Accounting Standards (IAS) define standardized accounting rules for various financial operations. These standards help to ensure uniformity and comparability of accounting information. In general, each standard contains definitions and rules for preparing specific elements of financial statements, such as balance sheet, income statement, statement of changes in equity, and cash flow statement.