Financial Accounting and Operations

Solutions

Financial Accounting and Operations

Business Process Solutions

Whether you are looking for full service, allowing your own finance team to maintain an oversight role, or simply require help preparing appropriate documentation – our team of specialists, who have vast experience in both using and implementing various ERP systems, can provide the service you need.

Bookkeeping

  • outsourcing of book-keeping and other daily support (source documents, payment orders, expense reports, and other)
  • reconciliation of accounts payable and receivable
  • development of accounting policy and methodology under Russian GAAP
  • development of document flow and internal control procedures
  • accounting restoration
  • short- or long-term in-house assistance from a Deloitte professional

Financial Reporting and Controlling

Whether you are a subsidiary of an international business operating in Russia or a Russian сompany looking for security and credibility, we can help you produce financial statements that are compliant with the IFRS or your own internal standards.

Our services include:

  • preparation of IFRS financial statements
  • preparing consolidated and stand-alone IFRS financial statements and disclosures
  • developing transformation files for the RAS-to-IFRS transition (and vice versa), including first-time adoption of the IFRS
  • implementation of parallel accounting under the RAS and IFRS
  • daily IFRS accounting and parallel accounting
  • navigating clients through complex IFRS questions
  • support during the implementation of IFRS updates and transition to new standards

Developing accounting policies

  • developing IFRS/RAS/OSBU corporate accounting policies, charts of accounts, and journals of accounting entries

Unified chart of account and OSBU implementation

  • daily accounting and financial statement preparation for non-credit financial institutions

IFRS reporting automation

  • developing IFRS accounting automation methodology based on 1C/SAP/Oracle or other ERP systems
  • providing ad-hoc advice and support

Other professional services

  • accounting restoration
  • optimisation of period closing procedures
  • support of fast closing procedures implementation
  • convergence of RAS, IFRS, and management accounting
  • supporting the RAS-to-IFRS transition
  • integration of accounting procedures after a reorganisation (merger, acquisition, etc.)
  • preparation of group reporting for consolidation

Management reporting

  • preparation of management reporting
  • development and approval of report forms for management reporting purposes

Statutory reporting

  • preparation of statutory financial statements
  • review of financial statements

Support Statutory Audit Preparation

  • interacting with auditors
  • collection of supporting documents
  • providing explanations at the auditors’ requests

Treasury Support

  • preparation of payment orders
  • maintaining payment schedules
  • preparation of cash flow reports

Year-end closing procedures

  • audit of accounting during the reporting year on a sample basis
  • conducting procedures for monthly and annual closing of accounting books

Business Process Solutions

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Key contacts

Svetlana Borisova

Svetlana Borisova

Partner

Svetlana is a Partner of the Outsourcing and Tax Compliance practice in the Tax and Legal department at Deloitte CIS. Svetlana has more than 20 years of finance, accounting and tax experience, includi... More

Elena Kovalevich

Elena Kovalevich

Partner, Business Process Solutions

Before joining Deloitte in 2004, Elena gained broad accounting experience working with a European pharmaceutical company. She holds a Professional Accountant’s Certificate, is a Member of the Russian ... More