Accounting and Reporting

Management Reporting

As Kazakh accounting regulations are very formalistic and consequently have very little economical significance, it is often recommendable to prepare additional reports based on Western accounting standards. Cost centers and cost unit calculations are unknown in Kazakh accounting. Even cost categories are not represented in the standard profit and loss statements.

Payroll Accounting

Payroll in Kazakhstan is an integral part of the accounting and tax system. It includes the generation of various extensive documents about personnel administration such as monthly overviews of working hours and diverse internal adjustments (so-called "prikase").

Reporting and Taxation in Russia

Kazakh accounting is not predominantly influenced by commercial law, but by tax regulations. Accounting is thus extremely formalistic, and the legal requirement to report quarterly, including the balance sheets and profit and loss statements, leads to a enormous amount of work. Each quarter about 15 documents must be filed.

Kazakhstani Accounting

KAZAKHSTAN CONSULTING offers you the possibility of outsourcing your entire accounting in Kazakhstan. Especially for smaller and medium-sized enterprises, such outsourcing will lead to higher cost efficiency and will enable you to focus on your core business. The outsourcing of accounting includes the daily bookings and the preparation of documents and reports for the Kazakh tax- and other authorities.

US-GAAP and IFRS in Kazakhstan

In Kazakhstan accounting procedures are dominated much more by tax regulations than by commercial standards. Furthermore, due to missing documents many transactions which have already been concluded will not show up in the accounting, and thus the economical representation of the company will be biased.