Preparation, transformation and consolidation of financial statements

•    Preparation of financial statements of the Company according to the requirements of the International Financial Reporting Standards (IFRS) which includes development of accounting policy according to the IFRS, making-out an opening IFRS statement of financial position as of the beginning of the first reporting period, preparation of financial statements according to the IFRS as of the reporting date.

•    Transformation of the financial statements prepared under the legislation of Ukraine into IFRS financial statements.  
The process of transformation of financial statements under National Accounting Regulations (Standards) into IFRS financial statements is comprised of accounting policy development, transformation pattern development, gathering of information required for calculation of transformation adjustments, regrouping and reclassification of the items of the statements under the National Accounting Regulations (Standards) into financial statements under IFRS, making-out an opening IFRS statement of financial position at the beginning of the first reporting period, preparation of financial statements under IFRS at the reporting date.

•    Transformation of the financial statements of parent company and subsidiaries prepared under the National Accounting Regulations (Standards) into IFRS financial statements and consolidation of financial statements of the parent company with its subsidiaries according to IFRS.

•    Consolidation of the financial statements of parent company and its subsidiaries in accordance with the National Accounting Regulations (Standards) or IFRS (IAS), including:

  • bringing accounting policies of subsidiaries in conformity with the accounting policy of the parent company;
  • bringing reporting data of subsidiaries in conformity with the financial statements of the parent company;
  • making regulatory entries;
  • preparation of consolidated statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows and notes to the consolidated financial statements;
  • calculation of the required ratios based on consolidated financial statements.