Accounting Advice

The accounting professionals at Schekin & Partners bring valuable accounting and business perspectives to the table when addressing tax matters. Our project teams include certified accountants who have participated in audits of the financial statements of major companies across industries in Russia and worldwide.

Examples of our work:

  • Documenting and recognizing provisions, including for abandonment costs

  • Documenting and recording inventory results in books and financial statements; detecting and documenting shrinkage and improperly recorded goods, as well as the causes

  • Recognizing and reporting prior-period errors and misstatements in books and financial statements

  • Recognizing non-cash equity contributions

  • Calculating the net asset value as on a reporting date when misstatements are detected in preparing financial statements

  • Implementing separate accounts for input VAT for VATable and VAT-exempt operations

  • Implementing separate accounts for input VAT for domestic sales and exports

  • Recognizing reinstatement of VAT for traditional and nontraditional exporters

  • RAS approach to identifying and recognizing goodwill

  • Accounting for bonuses received and paid

  • Accounting for exchange rate differences

  • Accounting and reporting in connection with various types of restructuring, such as mergers, acquisitions, spinoffs and transformations

  • Depreciating fixed assets for which the useful life changes while in use and through upgrades

  • Recognizing intangible exploration assets after proving commercial viability of production

  • Correcting primary accounting records

  • Applying the new federal law ‘On Accounting’ (Federal Law No. 402-FZ)