Conversion of financial statements according to group standards

We provide international companies with the following solutions for reporting according to group standards:

  • Conversion of financial statements according to group standards (IFRS, US GAAP and other internal standards);
  • Customization of current management reports.

We prepare reports in Russian, English, German, French, Finnish and other languages as required.

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Cost saving

Our specialists are familiar with international reporting standards, so you do not need to hire highly paid IFRS and GAAP specialists.

Transparency and control

Reliable information about financial result as a whole and across all divisions and business areas can be obtained.

Integration

We support the integration of corporate accounting system with the accounting system used under Russian Accounting Standards.

Options for preparing reporting accounting to group standards

Depending on companies’ requirements, we offer the following reporting options:

  • Conversion of financial statements at the end of the reporting period (month, quarter, year). For most companies, it is sufficient to convert financial statements at specific periods or as and when necessary
  • Customization of management reports. If a company needs quick access to information (cash flow, overdue receivables, comparison of budget data with actual ones, operational control of different types of activities) and not just the results of reporting periods, then customizing current management reports will be suitable for this company.

Conversion of financial statements

  • All operations for the relevant period are converted into the corresponding corporate reporting block according to the group chart of accounts and the group accounting policy;
  • Accrual of contingency reserve provision as provided by the group accounting policy;
  • Accrual of asset depreciation in compliance with the group accounting policy;
  • A business transaction log, balance sheet, profit and loss statement, other reports related to the movement of assets, intragroup transactions, as well as a report on discrepancies between Russian accounting and accounting according to group standards and group corporate policy are provided at the end of the reporting period;
  • In case of audits, we provide any statement to the group auditor up to individual operation.

Customization of management reports

  • Companies are provided with constant operational access to financial information;
  • Automation of accounting systems is customized.

Leading positions

Konsu is one of the leading consulting companies in Russia. We have been included in the following ratings of the rating agency Expert RA:

  • Top-10 in accounting outsourcing
  • Top-10 in payroll outsourcing
  • Top-15 in financial consulting
  • Top-15 in legal consulting
Ratings and associations

Our services

  1. We review the specific characteristics of the company’s operations as well as the laws regulating the client’s operations;
  2. We review the group accounting policy, the standards applied by the group, the company’s Russian accounting system (if any);
  3. We determine the difference between the accounting policy according to Russian Accounting Standards and the group accounting policy in compliance with the chart of accounts for Russian accounting and for group standards;
  4. We customize reports according to client format (balance sheet, profit and loss statement, report on movement of assets).

Automation of reporting according to group standards

  • Choosing the right IT solution
  • Revising solutions based on 1С
  • Deploying our module for preparation of IFRS reports in 1С

Result:

  • Monthly automatic preparation of IFRS reporting in accordance with group mapping rules and accounting
  • Analysis of financial indicators
  • Detailed breakdown, mapping registers, and account cards for international accounting