Blog Accounting

Accounting statements of open joint-stock companies: peculiarities of accounting for JSC (PAO)

Contents: What types of reports are prepared by JSC Features of the annual reporting and the annual report of the JSC How the accounting statements of joint-stock companies are submitted Deadlines for the submission of annual reports Features of the publication of reports The reporting of any joint-stock companies differs…

Apr, 08 2024
Accounting services and tax accounting

The law requires to record and systemize information about the objects of business activity – this is what accounting is particularly involved in. It implies that professionals will form financial reports on the main document flow basis of the company which will help internal and external users to assess the company’s activity.

Jan, 23 2024
Internal accounting audit

Accounting – is a system of collection, registration, and analysis of data about company’s business activity in financial terms. Russian legislation requires all companies to keep accounting. Even sole proprietors must comply with these requirements. Accounting data help to assess conditions of company’s affairs, however accounting mistakes may lead to serious consequences such as gross fines from state authorities.

Jan, 22 2024
Fixed assets accounting

Fixed assets are assets and values ​​that are needed for the production, operation of the company. Over time, they transfer their value to products. This happens through depreciation. The main document that governs the accounting of the value of fixed assets is the provision “Accounting for fixed assets” (PBU 6/01) dated March 30, 2001.

Jan, 21 2024
Checkup of accounting

Russian laws oblige all companies that are engaged in entrepreneurial activities to maintain accounting records. This requirement also applies to individual entrepreneurs, regardless of whether they have employees or not. Accounting is an integral part of the work of any organization. By its state, you can determine how successful the business is, and checking the accounting allows you to track errors in business activity. Thus, it affects efficiency of the entire enterprise. Without expertise, it is easy to miss serious risks and mistakes, fraught with fines or even criminal liability.

Jan, 21 2024
Audit of accounting (financial) statements

Accounting audit is intended to ensure accuracy of financial statements, which are prepared according to the results of a calendar year. It should provide the company’s management and regulatory authorities with reliable information about the financial standing of the enterprise. The task of auditors is to make sure that statements contain correct and comprehensive data and there are no mistakes, inaccuracies or deliberate distortion.

Jan, 20 2024
Audit of accounting and reporting organization

Audit of accounting and reporting organization is designed to create an impartial view of documents’ reliability as well as information reflected by them. The law obliges legal entities to keep records and keep financial statements, so that the company will be able to provide them to partners, auditors, and employees…

Jan, 19 2024
Accounting of consulting services

Russian law does not provide an unambiguous definition of consulting services. However, art. 148 of the Russian Tax Code provides a list of such intangible services along with its description. It also includes legal consultation.

Jan, 18 2024
Audit services in accounting

Most companies attract independent auditors from time to time, because this is required by law. The cost of audit services is quite high, and it needs to be carried out through accounting, properly taken into account in the balance sheet. According to the laws of the Russian Federation, specialized companies and individual specialists who are included in the register of one of the self-regulating specialized organizations can be engaged in auditing. Accounting of audit services assumes that the company invites independent specialists from outside. Even if there are qualified auditors in the company’s staff, you cannot attract them, because you will not be able to observe the principle of independence and impartiality.

Jan, 17 2024
Accounting of Legal Services

During tax audits, inspectors draw attention to all non-gratuitous services, including consulting, marketing and legal services. Therefore, it is important to correctly conduct accounting of legal services. Moreover, in relation to this type of services, the problem of proving compliance with the legislation requirements may arise. This mainly concerns its inclusion in the structure of expenses for income tax and for VAT deduction.

Jan, 17 2024
Accounting restoring

Each company must maintain accounting, as well as submit accounting and tax reporting regularly. But sometimes for some reason, accounting and tax accounting was not kept or was maintained incorrectly. Then you should appeal to companies, offering accounting restoration services in order to make your enterprise operate normally again. When…

Jan, 16 2024
Verification of accounting and reporting correctness

In accordance with Russian legislation each company is required to maintain accounting records regardless of what industry the company operates in, how many full-time employees and subsidiaries it has. Some organizations are also legally bound to conduct an independent accounting assessment. This requirement is related to the specifics of economic activity.

Jan, 14 2024
Accounting and analysis of financial results

Accounting and analysis of financial results are mandatory procedures for enterprises of all forms of management, including LLC. Information about financial results is necessary for an objective and comprehensive assessment of the company’s business activities. This information is necessary for owners and managers to make the right management decisions. In addition, they are requested by investors, banks, insurance companies and, of course, regulatory authorities.

Jan, 08 2024
Express audit of accounting

In virtue of the service of expedited audit of accounting any organization can carry out a short revision of its accounting statements condition. Such revision usually takes short period and minimal efforts.

Jan, 08 2024
Attorney services in accounting

Many companies and entrepreneurs need legal support or advice. Especially if there is no internal legal department, then it is necessary that the terms of contracts and agreements are reviewed by a third-party specialist. If the business gets involved in litigation, attorney services may be required even with having full-time lawyers. In any case, the company or individual entrepreneur pays for the assistance of a third-party specialist, and attorney services in accounting are reflected in a certain way.

Jan, 05 2024
Accounting of electronic services

Conducting tax audit in respect to legal entity, special attention is paid to compliance with legal requirements for accountancy of provided services. Due to active development of information technology, business entities provide customers with online services which have several advantages with increasing frequency. In this regard, question of the correct…

Jan, 04 2024