Financial Service in Armenia is conducted using International Financial Reporting Standards (IFRS). The primary purpose of preparing financial statements is to provide stakeholders with reliable information about the financial results and condition of the organization.
Financial statements include a set of the following reports:
- Balance Sheet
- Statement of Profit or Loss (P&L)
- Cash Flow Report
- Statement of Owner’s Equity
- Footnotes.
These reports provide a comprehensive view of the organization’s financial position, performance, and cash flows, which is essential for users of financial statements to make informed decisions.
Organizations must prepare their financial statements based on the principle of continuity and present them at least once a year.
Profin Consulting, with its expertise in IFRS, ensures accurate financial accounting for your company. In addition to preparing the above-mentioned reports, Profin Consulting also offers financial analysis, including the calculation of essential analytical indicators, and presents data with graphs and charts to clearly demonstrate the efficiency of the organization’s chosen development path.
