Eternity Law International — Accounting in Ukraine

Accounting in Ukraine

Published:
January 31, 2020

Accounting in Ukraine. There are many regulatory bodies that regulate the accounting process.

Based on the legislative framework, accounting is a procedure for determining, measuring, accumulating, as well as storing and transmitting data on the company’s activities to external and internal users in order to make a decision.

All business entities must maintain accounting records, regardless of what form of ownership you have during the entire period of business.

It is worth paying special attention to the fact that when a business entity is closed, the main point in the accounting process is notification of the state registration of the process of completing the actions of a legal entity.

The procedure changes regularly (34 more items were added in the current year alone). General requirements for financial reporting P (S) BU is to determine the basic methods and rules of accounting. In addition, reporting standards are defined in accordance with international rules.

Despite the fact that the state wants to unify the Regulation (standards) of accounting and International Financial Reporting Standards. There are still a significant number of differences between them that cause additional difficulties in the process of accounting and providing accounting services.

It is worth paying attention to the high rate of loyalty to International Financial Reporting Standards. It manifests itself in the absence of special requirements for completing financial statements.

In turn, the tax code focuses on the features, literacy of display and accounting in accounting with respect to income-costing procedures.

Eternity Law International specialists will provide you with expert advice on accounting, company registration in Ukraine, opening a bank account.

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