Transformation of booking is a process of preparing accounts based on IFRS standards by regrouping accounts information and adjusting specific items of accounts prepared in accordance with the rules of the Russian system of bookkeeping.
The process of transformation consists of the following stages:
- comparative analysis of accounting policy prepared on the basis of the Russian standards of bookkeeping and IFRS
- collection of information needed for conducting transformation
- preparation of adjustment postings and reclassification of accounts
- preparation of financial statements in the IFRS format: balance sheet, income statement, change in shareholder equity, cash flow forecast, explanatory notes
There is no unified transformation algorithm, with each specific case requiring a unique approach. Therefore, highly qualified specialists are at issue. Our specialists, who have extensive experience of IFRS work, will effectively perform the transformation of accounts engaging the maximum use of the bookkeeping policy adopted by our organization.
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IFRS
