Accounting for small 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 an international investor, you must keep records of your financial statements that needs to be in Ukrainian UAH and include the balance sheet, income, and cash flow statements.
For brokers, traders, and business and investment enterprises the procedure of conducting audit is mandatory.
Investing in a foreign country may come with a lot of 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.
Vital steps to deal with accounting services for 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