Accounting system of the Russian Federation is generally based on the Law “On accounting”, differing significantly from broadly accepted international accounting systems (US GAAP, IFRS).
This accounting system establishes specific requirements for all Russian legal entities and Branch/Representative offices of foreign companies located on the territory of the Russian Federation (unless otherwise is stipulated in international treaties of the Russian Federation) and has various pecularities in financial accounting and tax reporting.
However, following the idea of economic integration, Russian Ministry of Finance has developed and accepted the program (for the period 2004-2010) for Russia to perform a transition to International Accounting Standards (IAS) in the 2010-2015.
Today Alps & Chase specialists offer full or partial accounting services for Russian legal entities:
- processing of initial documents and booking entries into accounting base;
- preparation of tax and accounting policies;
- bank & cash management (with use of the system Bank-client);
- processing tax payments;
- preparation and submission of balance sheets and reports to tax authorities and non-budgetary funds;
- wages calculation and payment of payroll taxes;
- representation of clients’ interests with tax authorities and non-budgetary funds;
- preparation of financial reports for company management and shareholders;
- assistance with the implementation of documents for export-import transactions (preparation passports of transaction, consulting on inter-loan agreements, passing funds to the charter capital, etc.);
- assistance with keeping staff records;
- restoration of the accounting system and discovery of bookkeeping mistakes.
Accounting records and balance sheets prepared for your company are checked by our tax advisors. For the convenience of company management (CEO, Participants or Shareholders), we can prepare reports in an understandable form.
Advantages of accounting outsourcing:
- Security. Databases with accounting documentation are kept on a secured server with back ups performed every day.
- Quality. Your company is served by professional accountants with vast experience in different areas (B2B and B2C). High specialization of accountants facilitates rigorous quality control.
- Confidence. You can be confident that accounting reports will be passed to the necessary authorities in full in compliance with terms established by legislation. A team of contracted accountanting specialists will have no time laps in serving your company as your employees might (vacation, dismissal, etc.).
- Cost-effectiveness.There is no need to spend additional funds on preparing an workplace; purchasing computer, software, books and office supplies; or paying for accountant training.
- Use of licensed software. Our accountants use only licensed software, which guarantees monthly renewal of accounting and legal programs in accordance with current legislation of the Russian Federation.
- Taxes.There is no need to pay payroll taxes separately; the accountant’s fee already includes all taxes.
- Languages. If necessary, our accountants can furnish documentation for you in English.