Reporting according to international standards

Worldwide comparability through reports
according to international reporting standards

Reporting in accordance with international reporting standards such as IFRS or US-GAAP helps to depict the financial situation of the Russian branch or subsidiary according to a clearly defined framework with specific norms and specifications. Standardization ensures not only comprehensive transparency but also maximum comparability across national borders.

For you in Russia!

 

Do you have questions regarding the reporting according to international standards in Russia? We would be pleased to support you with our expertise and knowledge.

Reporting according to RAS and international standards (IFRS/US-GAAP) in Russia

Accounting in Russia is strongly tax-oriented, which leads to a distortion of the economic situation of a company due to the results of Russian accounting and thus to a lack of representative representation. The analysis of a company's financial situation based on the Russian balance sheet and income statement is therefore not very useful.

 

Problems

  • In order to correctly record incoming and outgoing payments and complete the related posting transactions, a total of three different documents are required in Russia. These perform different tasks and are therefore used at different points in time during business processing, which can result in cross-quarter postings. Revenues and expenses can therefore cause the results to be displayed distorted due to missing documents.

  • In order to keep informed about the actual situation of the Russian business and to reflect the company's situation in such a way that superior authorities such as the management board or the parent company, but also finance and controlling departments can work with it in a targeted manner, it is recommended to convert the Russian documents into international reporting standards such as IFRS or US-GAAP.

Our services in the area of reporting according to international standards in Russia

We would be pleased to support you with our expertise and knowledge in reporting according to international reporting standards such as IFRS or US-GAAP. This means that you are always fully informed and have full control of your business in Russia.

Do you have any questions regarding reporting according to international reporting standards in Russia? Do not hesitate and contact us. Please feel free to send us an e-mail, give us a call or make an appointment at one of our offices in Moscow, St. Petersburg or Vienna.

Further information on reporting according to international standards in Russia as well as on numerous other topics in the Russian economy can be found under publications  or on our Russia Economy blog.

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Business Set-Up, accounting and reporting in Russia

Ausserer & Consultants is an international tax and accounting company based in Moscow, St. Petersburg and Vienna. Since our foundation in 2012, we have made it our mission to support small and medium-sized companies in local accounting including tax returns, reporting, business Set-Up and expansion in Russia. We also advise on individual questions regarding the Russian market and support our clients at all times.