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Russian statutory and tax accounting methodology

Goals and objectives

  • Reorganize a company’s financial department (including its accounting function) to comply with Russian legislation
  • Develop Russian statutory and tax accounting system as a part of a company’s unified system for financial and economic management
  • Harmonize Russian legislative requirements (for statutory and tax accounting) with IFRS and management reporting requirements
  • Prepare an updated corporate ERP system
  • Unify accounting processes and develop a single accounting model for organizations with holding structures

What we do

Deloitte CIS specialists have extensive experience in setting up accounting and tax functions.
We help our clients to perform diagnostics, set a target state for the accounting and tax functions, take steps to harmonize different types of accounting, and increase efficiency of accounting and tax functions.

Our approach

Over the course of a project, we analyze current state of Russian statutory and tax accounting functions, form a target vision for these functions, and make recommendations on tax, IFRS/US GAAP accounting, and management reporting. Our goal is to create a single harmonized accounting system within a company, with Russian statutory accounting as the main source of actual data for enterprise management systems.

How your business will benefit

Typically, project deliverables provide a singular harmonized model for accounting processes and procedures, meeting the requirements of information solutions being introduced, and are composed of the following elements:

  • Suggestions for harmonizing Russian statutory/tax accounting with other types of accounting
  • Russian statutory and tax accounting policies
  • Chart of accounts and analytical classifiers
  • Algorithms for statutory and tax reporting
  • Transaction ledger with accounting entries for all business processes
  • Income tax register album
  • Period closing regulations for statutory and tax accounting

Furthermore, we help with the implementation of the accounting solution in ERP systems, assist with system testing, and provide training for its users.

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