Financial services

Financial Services 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 give a clear view of the organization’s financial position, performance, and cash flows. This helps users of financial statements make informed decisions.

Organizations should prepare financial statements using the going concern principle. They should 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 reports mentioned above, Profin Consulting also offers financial analysis. This includes calculating key indicators. Profin Consulting also presents data with graphs and charts. These visuals clearly show how well the organization’s chosen development path is working.

Financial analysis includes the evaluation of the following indicators:

  • Profitability Analysis (Gross Profit Margin, Operating Profit Margin, Net Profit Margin, Return on Equity (ROE))

  • Liquidity Analysis (Current Ratio, Quick Ratio (Acid Test), Cash Ratio)

  • Efficiency/Activity Analysis (Asset Turnover Ratio, Inventory Turnover Ratio, Receivables Turnover Ratio)

  • Solvency Analysis (Net Working Capital (NWC), Free Cash Flow (FCF))

  • Market Value Analysis (Price-to-Earnings Ratio (P/E), Price-to-Book Ratio (P/B), Dividend Yield)

  • Growth Analysis (Revenue Growth Rate, Earnings Growth Rate)

  • Risk Analysis (Beta (Systematic Risk), Credit Risk, Operational Risk)

  • DuPont Analysis (ROE)

For financial accounting in Armenia, we use both Armenian software (Armsoft, Mekum) and international software (Zoho Books, Xero).

Conducting financial accounting and analysis in Armenia ensures stability and transparency, which is crucial for both internal and external stakeholders of the company.

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