Warning: session_start() [function.session-start]: Cannot send session cookie - headers already sent by (output started at /home/branwen/en.branwen.ru/docs/index.php:4) in /home/branwen/en.branwen.ru/docs/libraries/joomla/session/session.php on line 423

Warning: session_start() [function.session-start]: Cannot send session cache limiter - headers already sent (output started at /home/branwen/en.branwen.ru/docs/index.php:4) in /home/branwen/en.branwen.ru/docs/libraries/joomla/session/session.php on line 423

Warning: Cannot modify header information - headers already sent by (output started at /home/branwen/en.branwen.ru/docs/index.php:4) in /home/branwen/en.branwen.ru/docs/libraries/joomla/session/session.php on line 426

Warning: Cannot modify header information - headers already sent by (output started at /home/branwen/en.branwen.ru/docs/index.php:4) in /home/branwen/en.branwen.ru/docs/templates/branwen/libs/gk.template.helper.php on line 269
Establishing Accounting System

News image

We will make your electronic reporting for you

New service by BRANWEN Group of Companies: Electronic Re...

read more..
News image

Professional Disposal of Documents

BRANWEN Group of Companies offers professional disposal of your documents. With our specialized equipment we may help you to safely ...

read more..
Page of the site: HOME » ACCOUNTING SERVICES » Establishing Accounting System

Establishing Accounting System

Challenge: : the need of having efficient accounting policies in case of start-up, restructuring of business, diversification of business activities or in case of neglected accounting in a company.

Solution: accurate and efficient Accounting System.  

How to establish efficient Accounting System?

To establish an Accounting System means to develop and adopt specific accounting policies from the very beginning of business activities. This is crucial for meeting one of the main accounting principles – prompt actions, timely processing of information and posting of accounts.

Following are the main steps in establishing Accounting System in a company:

  • develop documents to regulate accounting practices;
  • develop general and tax ledgers; choose account posting system;
  • introduce bookkeeping staff to the basic principles of Accounting System and how it should be established; train them on how to work in new conditions;
  • decide on best suitable taxation and accounting system considering specific business conditions.

When is it necessary to establish an Accounting System?

Most often it is required when new business is set up, i.e. where a company is starting from scratch. But it is not the only case when accounting and taxation systems should be developed and established. It is also necessary when:

  • a company undergoes changes or starts new activities;
  • a company changes to simplified taxation system;
  • the existing Accounting System needs to be reviewed for tax structuring and optimization;
  • a company started business activities, but has not yet decided on its accounting and taxation system, having hence violated tax legislation.

3. . Why is it necessary to establish an Accounting System?

Not only it is important to comply with the existing tax legislation, but also a well-established Accounting System is vital for many internal processes, including performance management, apt decision-taking based on prompt accounting information, improvement of cost-efficiency, i.e. reduction in expenditure.

What are the main steps in establishing efficient Accounting System?

Establishing an Accounting System is a multistage process, where each stage is based on the outcomes from the previous stage. Normally the following step-by-step measures are taken to establish an efficient Accounting System in a company:

  • quick analysis of the company and particulars of its activities;
  • develop background documents for accounting and adopt internal document management;
  • based on the analysis performed decide what Accounting System should be adopted – conventional or simplified;
  • develop chart of accounts and posting of entries;
  • make general and tax ledgers;
  • complete the book of transactions and ledgers up to the present date;
  • make provisional balance sheet and financial reports to use them as the basis for all future financial accounting in the company;
  • prepare zero balance-sheet and report to controlling authorities.

Related Services

To have you Accounting System duly established and at the same time make it efficient in all respects, we offer a wide range of related services, that are very important for your accounting processes:

  • analysis of financial statements (based on accounting information);
  • evaluation of your company's financial status in the reporting period;
  • development of efficient taxation system, enabling to optimize tax exposure in compliance with the existing legislation;
  • establishing management accounting in the company, based on the transformed data from business accounting;
  • audit of accounts (both for specific accounting areas and total documents in case of pending tax inspection).

Any one of the above services is always the assurance of favorable outcomes, improved efficiency, effective monitoring of all business processes, cost improvement, compliance with the requirements of tax authorities.

What are your benefits in having your Accounting System developed and setup by our experts?

Our Company is the team of professionals whose wealth of knowledge is strengthened by vast practical experience in developing accounting policies, establishing and reestablishing accounting system in a company. Like no one else do we understand how crucial it is to have well-structured and optimized financial and tax accounting, that enables to promptly respond to the challenges of today's market, remaining at the same time within the pale of laws.

We give assurance that when carefully developed and established by our experts, your Accounting System will enable you not only to have good planning and monitoring of your activities, but also to avoid any complications or penalties by controlling agencies. Responsibility, expertise, profound knowledge of accountancy and legislation – these are our main guidelines that help to achieve most ambitious goals.

 
We offer wide range of other services:


Our best Recommendation - Confidence of our Customers:


<- ->

«GAGARIN decor»


«GAGARIN decor»

«GAGARIN decor» -  manufacturer of ABS / PVC...

«Ampir-Decor»


«Ampir-Decor»

«Ampir-Decor» - market leader in sales of interior...

TECHNOSTYLE


TECHNOSTYLE

«TECHOSTYLE» - trading company, offering wide range of...

KUPETS Trading House


KUPETS Trading House

KUPETS Trading House -   wholesaler of construction and...

RUSSIAN AMBER


RUSSIAN AMBER

RUSSIAN AMBER – amber jewelry chain stores. Manufacturer...

BALTIC FEAST


BALTIC FEAST

BALTIC FEAST – Kaliningrad manufacturer of frozen meat...

Vet-39 Veterinary Company


Vet-39 Veterinary Company

«Vet-39 Veterinary Company» veterinary clinic and vet pharmacy....

KALININGRAD Hotel


KALININGRAD Hotel

KALININGRAD Hotel - the largest hotel in...

BUSINESS RUSSIA Company


BUSINESS RUSSIA Company

BUSINESS RUSSIA Company – roofing and facing...

TURNE-TRANS


TURNE-TRANS

«TURNE-TRANS» Group of Companies since its foundation...

POSEIDON-2000


POSEIDON-2000

 «POSEIDON-2000» Fish Cannery was founded in 2000. It...

GRAND HALL


GRAND HALL

GRAND HALL Restaurant with its 200 seats in...

AROUND THE WORLD


AROUND THE WORLD

«AROUND THE WORLD» Travel Agency has been at...

BALTIC GLASS


BALTIC GLASS

 «BALTIC GLASS» Company has been successfully operating at...

GRAPHIKA-M


GRAPHIKA-M

GRAPHIKA-M  Printing Office offers wide range of services...

TURNE-TRANS TRAVEL


TURNE-TRANS TRAVEL

«TURNE-TRANS TRAVEL » Travel Agency welcomes you...

Kaliningrad Breeding Centr


Kaliningrad Breeding Centr

Kaliningrad Breeding Centre was founded in 2008 as...

SHAR-plus


SHAR-plus

«SHAR-plus» is a trading company, a supplier to...

ARDIS Media Group


ARDIS Media Group

ARDIS Media Group  is a website developing company....