Management reporting

Gain visibility into the financial health of local divisions operating in Armenia, Belarus, Kazakhstan, Poland, Russia and Uzbekistan. We transform reporting prepared under local accounting standards into management reports under IFRS, US GAAP, German GAAP (HGB) and/or head office corporate requirements.

Head office needs regular financial reports from local subsidiaries, but these reports are generally prepared according to local rather than international accounting standards. This makes reports difficult to comprehend and integrate into consolidated corporate reporting. Even though local subsidiaries may be legally required to prepare IFRS reporting, they sometimes lack the necessary in-house expertise.

SCHNEIDER GROUP consultants will check accounting reporting according to local standards, analyse head office corporate requirements and generate a set of management reports to ensure that subsidiaries' activities are transparent to shareholders and decision-makers abroad. We will:

  • Prepare monthly, quarterly, and annual management reporting for headquarters according to your preferred international standards (such as IFRS, US GAAP or HGB).
  • Provide reconciliation and mapping between local data and management reporting.
  • Transfer local reporting data to your corporate chart of accounts.

What is included in SCHNEIDER GROUP’s management reporting services?

  • Preparation of weekly and monthly aging reports, reports on cashflows, stocks, revenues, orders, gross profit (monetary or quantitative) by counterparty and/or sales.
  • Preparation of weekly and monthly cashflow forecasts/budgets.
  • Preparation of monthly management reports (Statement of Financial Position and Income Statement) according to IFRS, US GAAP or HGB.
  • Preparation of necessary disclosures or notes related to balance sheet and profit & loss items and/or their detailed breakdowns.
  • Transfer of local reporting data to corporate financial accounts; consultation on preparing Russian Accounting Standards (RAS) reports; ensuring that reporting from Russian subsidiaries is transparent and understandable for head office.
  • Budgeting: from budgeting support and consultation for in-house staff to full preparation of short-term (1-year) and long-term (5-year) budgets.
  • Quarterly update/adjustment of budget data.
  • Reconciliation of management reporting data with annual financial statements and annual profit tax returns prepared under RAS standards; identification of inconsistencies; commentary on differences.
  • Preparation of annual and quarterly tax balance sheets (providing breakdowns of expenditure and income, both deductible & non-deductible for the purpose of profit tax calculation).
  • Preparation of other management reports at your request.

Reporting is available in either Russian, English or German.

What you get

We prepare management reports in accordance with both regulatory requirements and head office corporate standards. If necessary, we will provide templates created by SCHNEIDER GROUP based on our many years of experience preparing management reports for international companies. We will make all necessary changes to the templates to account for information that is important to your business.
We will help you to automate your IFRS accounting using suitable software such as 1C, SAP, Navision and Oracle. We integrate local accounting systems with the solution used by head office to exchange data in real time. We set up automatic generation and distribution of reports with information you require, such as warehouse stock, invoiced amounts, accounts receivable etc.
In addition to final reports, we provide working files to monitor all adjustments, from the local trial balance to the financial information stated in the report. We simplify data verification for head office, thus saving time spent clarifying details with local divisions.

Why Schneider group

We always try to do what’s best for our customers. We examine your requirements, ensure that the scope and format of the project truly matches your goals and propose solutions that optimise the presentation of your specific financial information. We provide free consulting to improve 3-way communication between our consultants, local divisions and head office during the preparation of reports.
We go the extra mile, because we aim to form long-term partnerships with our clients. We ensure that data is consolidated across multiple local divisions and transfer it to head office in a timely manner. If necessary, we will prepare additional explanations regarding certain operations accounted for in the reports, in your choice of either Russian, English or German.
For each client, we put together a project team comprising experts with extensive relevant industry experience in cross-cultural environments. Our employees receive regular training and undergo a competence assessment twice a year; time after time, SCHNEIDER GROUP is ranked among the largest providers of accounting outsourcing services.
When clients order accounting or management reporting services, we carry out a free expedited audit of their activities and check the accuracy and quality of their accounting and tax reporting. Afterwards, we analyse the findings and prepare a comprehensible summary report concerning any shortcomings identified, with practical recommendations for remedying them.