“Our team of local and German experts provides tailored controlling solutions, which both meet Ukrainian individual requirements and fulfil western European controlling standards.”
Our definition: Controlling
Controlling in Ukraine is literally about control. In contrast, the aim of controlling according to the western thinking is rather to provide information for decision making in order to optimize processes.The needed information is usually more detailed and more specific than what the financial reporting may deliver. Only through well-functioning controlling solutions a company can effectively monitor and steer organizational processes in order to support and inform management.
Local complications: Low data quality
Due to the statutory chart of accounts and rather formal requirements concerning financial statements, Ukrainian financial reporting does not provide sufficient information about the actual financial situation of a company.From a western European point of view, odd accounting procedures often lead to misunderstandings regarding controlling/reporting. An issued invoice, for example, is not a primary document for accounting - an invoice is only an „invitation for payment“. Only a waybill, or in case of services rendered a respective protocol (a so called “act”), are an accepted primary document.
Moreover, many Ukrainian employees lack economic mind-set, which underlines the necessity of a prompt and detailed controlling.
Our solution: Tailored proactive controlling solutions through local Know How
We implement and design an optimised control environment into your accounting – ranging from simple management reporting solutions to complex cost accounting systems.
Furthermore, thanks to our local Know How we offer compilation of comprehensive management reports in order to guarantee an informative reporting according to western European standards.
