/Reporting Under IFRS

Reporting Under IFRS's

Preparing financial statements is a crucial aspect of financial reporting for businesses. Financial statements provide a snapshot of a company's financial performance and position over a specific period.

How can we help

Implementation of IFRS standards and methodology. Monthly quarterly support services to ensure the accuracy and compliance of the client's reports.

How we do it

1. Gather Financial Data: Collect financial data from various sources within the organization. This includes transaction records, bank statements, invoices, receipts, and any other relevant financial documents.
2. Record Transactions: Ensure that all financial transactions are accurately recorded in the accounting system. This involves categorizing transactions into appropriate accounts, such as revenue, expenses, assets, and liabilities.
3. Adjusting Entries: Make adjusting entries to account for accruals, deferrals, depreciation, and other adjustments necessary to reflect the economic reality of the business. This step ensures that financial statements accurately represent the financial position at the end of the reporting period.
4. Preparation of financial statements and its notes.

Implementation of IFRS 17

Our experienced team will implement IFRS 17 based on already designed procedures and models which are in compliance with strict requirements of IFRS 17 (on the basis of experience of big four companies). We have an successful project finished for one of the large insurance company in Armenia.

Implementation of IFRS 9

Our experienced team will implement IFRS 9 based on already designed procedures and models which are in compliance with strict requirements of IFRS 9 (on the basis of experience of big four companies). We regularly updated the models and policies for our clients which we have already implemented the standard to ensure the compliance with IFRS 9 latest changes.