What to consider for accounting services for a business in Ukraine?
The accounting standards differ, so the accounting service needs to prepare documents both for your native country and one for Ukraine.
As a Britain investor, you must keep records of your financial statements that need to be in Ukrainian UAH and include the balance sheet, income, and cash flow statements.
For brokers, traders, and business and investment enterprises, conducting an audit is mandatory.
Investing in a foreign country may come with red-tape, regulations, roadblocks, and maybe even loopholes.
However, to make sure you abide by the law 100% and don't invite unnecessary audits and scrutiny, we suggest adhering strictly to Ukrainian law and standards.
Steps to deal with accounting services in Ukraine:
- Make sure the accounting firm you hire is legitimate (firm or certified personal accountant
- Disclose your financial situation to them in both countries to ensure the quality and accuracy of their services
- Call GT Invest and let professionals lead your accounting.