It is impossible to competently manage a company without systematically collecting and analyzing data on the actual state of the business. Managers should have both financial and non-financial information to respond quickly to changing circumstances. Developing management reports helps to objectively evaluate results and make effective decisions.
Russian accounting standards have become more similar to International accounting standards. However, financial statements prepared in accordance with Russian standards still don’t reflect the full picture of the financial situation. Statutory financial statements are also submitted only once a year.
Outsourcing Solutions offers management reporting services. Our team will draft the necessary reports per international accounting standards or intercompany standards. Reports could be submitted on a monthly or quarterly basis to meet company deadlines. Reports may contain various information and can be formatted per the specifications of your company CFO or head office.The basic package consists of 4 reports:
- Profit and Loss Statement (P&L);
- Balance Sheet;
- Trial Balance;