Accounting services in Armenia

At Profin, we offer accounting services in accordance with international standards and the tax legislation of the Republic of Armenia. For bookkeeping, we utilize both Armenian (Armsoft, Mekum) and international (Zoho Books, Xero) software.

The application of international standards is important from the point of view of financial accounting, as it ensures comparability of reports and can give a complete picture of the state of the company. International standards allow for already standardized financial reports in the case of receiving investments or receiving loans. Financial accounting in Armenia is carried out according to IFRS (International Financial Reporting Standards).
According to IFRS standards, when carrying out the accounting, we prepare a Balance sheet, which allows you to see what assets the company has and where these assets were proposed or acquired. The next financial statement is the profit/loss statement (P&L), which enables you to understand the results of operations for a reporting period. Accountant or Accounting company in Armenia has also to prepare the cash flow report, which allows to understand the movement of company funds. The next financial reports, that accounting company has to prepare is statements of owner equity. 

Accounting according to international standards means studying, analyzing and drawing up accounting policies. If IFRS presents the principles of making judgments, then the accounting policy represents the totality of judgments of an accountant or an accounting services company. Regarding this, notes are made in the financial statements (footnotes) by accounting company in RA. 

The key point in accounting is choosing the accounting software. Profin Offers to work with Armsoft Accounting 7. It helps to prepare financial reports in accordance with IFRS and tax reports, such as income tax reports, VAT reports and profit tax reports. Profin also offers to work with Zoho Book or Xero, which provide a lot of types of analyzes and reports. 

If you are looking for outsource accounting in Armenia, the best choice can be Profin Consulting.