Transition to accounting under IFRS
The Law of Ukraine No. 996-XIV of July 16, 1999 provides the opportunity for business entities to independently determine the appropriateness of applying of International Accounting Standards (IAS) for preparing financial reporting and implementation of IAS. In addition, the necessity for reporting under IAS for business entities with foreign investments could be determined by the investor. In these cases, it is impossible to do without the financial statement transformation procedure. Representatives of the company with foreign investments, which is a subsidiary of a Polish company, applied to the Law Firm Patriot.Legal for provision of services for the transition to accounting under IAS. The specialists of our company qualitatively carried out the transformation of the financial statement and prepared the first financial statement under IAS, as evidenced by the data of the audit of the financial statements of the company with foreign investments.