Bellerage uses a three-tier model of financial outsourcing: Data Processing and Routine Transactions Management, Accounting and Reporting, CFO Services:

• Accounting services in accordance with Russian and international standards (IFRS, US GAAP)
• Tax accounting
• Management accounting
• Payroll accounting and assessment of associated taxes
• Bank transactions maintenance
• Cash transactions maintenance, including advance and travel expense reports
• Accounting statements, tax reporting, statistical reporting and filing reports with relevant tax authorities
• Preparation of financial statements according to international or corporate standards
• Client representation before tax and other state authorities
• Assistance in tax and audit inspections
• Accounts receivable maintenance
• Cash flow management
• Planning and budgeting
• Analysis of financial and economic activity
• Financing and investments

The above listed services may be provided on both a continuing and a case-by-case (project) basis. Accounting and financial services rendered mostly on a project basis are specified in section of Consulting and Audit.

Advantages of using financial outsourcing

In addition to the traditional advantages obtained from contracting a specialized company, those clients who outsource financial business processes to a specialist provider receive additional advantages:

• Substantial reduction of risks incurred by international and national companies in connection with continuously changing requirements of local accounting and tax regulatory environment, as well as of risks associated with the specifics of relationships with tax authorities.
• Maximized confidentiality of financial information by reducing the number of client’s employees who have access to such information.
• Increased information security by implementing special procedures and technologies for data backup, storage and protection.

Enhanced objectivity of financial information supplied to the client shareholders and management. This is of essence in those situations where it is required to minimize the human factor, for instance, when a business is jointly owned by several participants.