Blog Accounting
Contents: Methods of evaluating accounting correctness Who conducts the accounting audit How audit is conducted 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…
Contents: When accounting check is necessary First stage: preparation Second stage: access to the accounting database and express check Third stage: obtaining a certificate of taxes and fees Fourth stage: checking the possibility of fraud with the current account Fifth stage: control of transactions on the current bank account Sixth…
Contents: Tasks and goals of internal accounting audit Internal control elements Functions and principles of internal audit How to set up company’s internal audit service Internal audit steps Accounting – is a system of collection, registration, and analysis of data about company’s business activity in financial terms. Russian legislation requires…
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…
Accounting and analysis of financial results are mandatory procedures for enterprises of all legal forms, including LLC. Information on financial results is necessary for comprehensive assessment of the company’s commercial activity. This data is important for owners and executives to make the right management decisions. Moreover, investors, banks, insurance companies…
Commercial companies usually offer customers and partners not just the products but services as well. It may be the main or associated company’s activity. In any case, if the company provides services, they are subject to accounting. According to the Tax Code a service is an activity, results of which…
Audit according to sectoral accounting standards is a mandatory procedure for companies which are legally bound to comply with sectoral accounting standards. This category includes non-credit financial and microfinance organizations, management companies, and other businesses. For such companies timely and careful reporting is essential part of business legitimacy. Sectoral accounting…
According to legislation, a contract is an agreement of two or more persons include civil rights and responsibilities. Conclusion of contract entails to establishment of a legal connection between parties to agreement. Therefore, in contractual relationship, subjective rights and obligations of parties are realized. An agreement implies contractual obligations: one…
Professional accounting will allow business owners to make decisions without taking unnecessary risk and will protect them from penalties which may be imposed by tax and other inspection authorities. Accounting services imply several directions of work. The first one is reporting and taxation which includes the following tasks: Forming and…
Contents: What does accounting include? Differences and peculiarities of tax accounting Main principles Tax reporting options 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…
Contents: Who can use the simplified tax system? Accounting peculiarities while applying STS Mandatory accountancy All commercial entities including small and medium sized companies and sole proprietors are obliged to do bookkeeping. However, bookkeeping under simplified tax system has some peculiarities. Although it is easier in comparison with the requirements…
Verification of accounting documentation is an important procedure aimed at preventing errors. Inaccuracies and errors in documents arise for various reasons: due to negligence, insufficient qualifications of the staff, overwork of employees, malfunctions of computers. Errors can be identified when calculating totals and when putting documents to registers. Therefore, all…
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…
The current legislation obliges not every individual entrepreneur to maintain accounting records, nevertheless filing statements with tax authorities on a regular basis is a must for all. This is regulated by Federal Law No. 402-FZ. Non-compliance with the requirements entails fines and compulsory liquidation for the entrepreneurs. If it is…
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…
Contents: Accounting of attorney services: inclusion in expenses Accounting and tax accounting of attorney services Cost recovery by the losing party Compensation for other legal expenses Many companies and entrepreneurs need legal support or advice. Especially if there is no internal legal department, then it is necessary that the terms…
