Reconstruction of financial accounts

Continuous accounting-record keeping of the enterprise from its registration date is required under

Accounting & Financial Statements Act of Ukraine.

As required under the Ukrainian laws, absence of accounting records or undue accounting-record keeping

shall contemplate administrative responsibility as the penalties from 10 to 20 personal exemptions;

if default of the established procedure of submitting of financial accounts and accounting-record keeping within liquidation of the legal entity (the penalty from 40 to 100 personal exemptions or the penalty from 50 to 120 personal exemptions).

If absence of accounting-record keeping or undue accounting-record keeping within certain period of time, reconstruction of financial accounts is required. As far as tax accounting is based on accounting records, reconstruction of tax accounting is an integral part of reconstruction of financial accounts.

Reconstruction of financial accounts requires reconstruction of synthetic, analytical and tax registers, company’s financial statements according to the primary documents submitted in full or partially, if such documents have been lost because of company’s move or replacement of the accountants, undue accounting-record keeping

for certain period of the company’s activities etc.

Reconstruction of financial accounts consists of some phases.

• Sorting and processing of the primary documents, reconstruction of the accounting transactions;

• Analysis of the primary documents of the company as to their compliance with the effective laws;

• Accuracy verification of required registers, reconstruction and preparation of accounting records;

• Accuracy verification of tax payment computation and preparation of tax statements;

• Preparation of accounting records under the requirements of the effective laws;

• By results of reconstructed accounting, statistic, financial and tax accounting statements may be prepared and submitted to the state authorities.

Duration of the procedure of reconstruction of accounting and tax records, cost of services of the audit company depends on the company’s needs, scope of reconstruction procedures, external economic activities (if any),

the documents and their scope, types of activities of the company.

Reconstruction of financial accounts may be full or partial (reconstruction of some elements or periods of financial-and-economic activities).

Audit Firm «Rada Ltd» proposes services in reconstruction of financial accounts of any companies.

Reconstruction of financial accounts shall include reconstruction of due areas of accounting records and

complete reconstruction of the company’s accounting.

As a result the client will have reconstructed accounting and tax records, new financial statements prepared according to the new accounting records (if agreed by the parties).

Following the procedure of reconstruction of financial accounts we will consult the company’s management on further accounting-record keeping and tax accounting or we will continue accounting-record keeping of your company, if you wish so, under the contract of accounting-record keeping (outsourcing).

To receive more detailed information, please, call by tel: (044) 254-27-91

or by e-mail:

Additional information

Corporate values

Our relations with the clients, the employees and the partners are based on the corporate values

of Audit Firm «Rada Ltd» as our principles and methods of business.

Our values:

• Neutrality and independence in information assessment

• Professional competence and fairness

• Responsibility for result

• Argumentativeness

• Benefit of our services for the client

• Confidentiality

• Maximum independence in work

Audit Firm «Rada Ltd» Team aspires to be

of maximum benefit for our clients.

We always try improving our services and

we are never satisfied with what has already

been achieved.

We use complex approach, give maximum attention to details and individual needs of each client, try to solve quickly evident problems and determine concealed ones.

Our company’s motto is: we aspire to innovatory and advanced solutions!