Financial statement preparation service with Accounting.Az

What is the purpose of preparing financial statements? Which standards are used for financial reporting?

The main purpose of accounting is to provide the necessary information to interested parties within a company. However, accounting records alone are not enough to fully understand the financial position of a business. For this reason, accounting data must be organized into financial statements.

Accounting.Az consulting company, with many years of experience in the accounting services market in Baku, offers:

• financial statement preparation services tailored to your business needs;
• consultation services on preparing reports in accordance with accounting standards.

The accounting services we provide on an outsourcing basis cover many areas, including tax accounting and HR administration. We support your business with professional services. Choose us for cooperation and experience the difference of working with professionals.

Which standards are used in financial statement preparation?

Accounting.Az consulting company prepares reports in accordance with Azerbaijani legislation and international accounting standards such as GAAP and IFRS.

Generally Accepted Accounting Principles (GAAP) form the main framework for organizing and maintaining financial accounting. These principles include the rules and practices accountants use during their daily work.

International Financial Reporting Standards (IFRS) are a set of accounting standards that determine how specific transactions and operations should be reflected in financial statements.

Accounting.Az consulting company offers a full range of accounting services based on international standards. If you want a clear and accurate understanding of your company’s financial position, contact us. Our professional accountants can prepare IFRS-compliant financial statements based on your request.

If your accounting system is still not aligned with international standards, we can help you. Transforming the accounting system is important because Azerbaijani accounting legislation requires compliance with these standards.

If you would like answers to additional questions, we recommend contacting us by phone

+994123100929

+994125983798  

What is included in our financial statement preparation services?

1. We prepare quarterly and annual profit and loss statements that summarize company income and expenses, both for individual businesses and consolidated groups of companies. If you want to better manage financial decisions based on monthly income and expenses, we also prepare monthly profit and loss reports. This allows you to monitor changes more effectively.
2. The balance sheet provides summarized financial information about your company’s assets, net worth, and liabilities for a specific period. This report presents accounting accounts more clearly and helps management make more accurate decisions.
3. Our team also prepares cash flow statements to show the sources of cash inflows and the directions of cash outflows during the year. This report helps evaluate liquidity, solvency, and profitability indicators.
4. The statement of changes in equity allows businesses to analyze financial performance and compare changes in assets, liabilities, and capital over time.
5. Accounting policies and explanatory notes are among the most important and detailed parts of the reporting package. Our specialists can prepare these documents for you professionally and within a short time.

Accounting rules and financial reporting standards are becoming more complex every year. Because of this, companies often face operational challenges that affect the quality and speed of financial reporting.

To help solve these problems effectively, we offer financial reporting consultation services for companies operating in different industries.

You can send your questions and issues to our email address at info@accounting.az. We will review your request, contact you, and discuss the terms of cooperation.

Service pricing

The cost of the service is determined individually. The price for financial statement preparation and accounting system transformation depends on several factors, including the volume of reports, the size and business profile of the company, and the completeness of accounting information.

The cost of consultation services related to report preparation and accounting system transformation is determined on an hourly basis through mutual agreement.

If you would like to learn more about our accounting services and discuss cooperation terms, please contact us. Working with Accounting.Az consulting company means timely financial reporting prepared in accordance with IFRS and high-quality professional consultation services.

+994125983798

+994123100929

+994502258205