Accounting and Reporting

Ukrainian Accounting

Advantages of Outsourcing the Ukrainian Accounting

UKRAINE CONSULTING offers you the possibility of outsourcing your entire accounting in Ukraine. Especially for smaller and medium-sized enterprises, such outsourcing will lead to higher cost efficiency and will enable you to focus on your core business in Ukraine. The outsourcing of Ukrainian accounting includes the daily bookings and the preparation of documents and reports for the Ukrainian tax- and other authorities.

Payroll Accounting

Appraisal of Ukrainian payroll accounting

Payroll accounting in Ukraine is an integral part of the accounting and tax system. The Ukrainian payroll accounting includes the generation of various extensive documents about the personnel administration such as monthly overviews of the working hours and diverse internal adjustments (so-called "prikaz").
more

Reporting and Taxation in Ukraine

Complex Reporting and Taxation

Ukrainian accounting is not predominantly influenced by commercial law, but by tax regulations. Accounting is thus extremely formalistic, and the legal requirement to report quarterly, including the balance sheets and profit and loss statements, leads to the enormous amount of work. Each quarter about 15 documents must be filed.

US-GAAP and IFRS in Ukraine

Differences between Ukrainian accounting and IFRS / US-GAAP

In Ukraine accounting procedures are dominated much more by tax regulations than by commercial standards. Furthermore, due to missing documents many transactions which have already been concluded will, in contrast to IFRS and US-GAAP standards, not show up in the accounting, and thus the economical representation of the company will be biased.

Management Reporting

Managemnet Reporting in Ukraine

As Ukrainian accounting regulations are very formalistic and consequently have very little economical significance, it is often recommendable to prepare additional reports based on Western accounting standards. Cost centers and cost unit calculations are unknown in ГUkrainian accounting. Even cost categories are not represented in the standard profit and loss statements.