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
Why Schneider group
SCHNEIDER GROUP has been helping businesses to expand to new geographical markets since 2003, offering a full range of business support services: from developing strategy for successful market-entry to helping arrange or optimize accounting, reporting and financial planning processes and establishing efficient IT infrastructures.
500 top experts in 9 countries take care of all resource-consuming non-core business tasks, so our customers can focus on achieving their business goals. We offer services in Armenia, Austria, Belarus, Germany, Kazakhstan, Poland, Russia and Uzbekistan, with minor regional variations. Get in touch via our contact form to request details of specific service packages available in your target country.