Preparation of Financial Statements for Cyprus Companies

At IBCCS TAX we are experienced international tax planning advisers offering legal
& tax advisory assistance both on an international and local scale.

Preparation of Financial Statements for Cyprus Companies

Accurate and reliable financial statements are essential for businesses in Cyprus. At IBCCS TAX, we provide professional services for the preparation of financial statements in compliance with relevant accounting standards. Our experienced team ensures that your financial statements accurately reflect your company’s financial performance and position.

Planning, implementation, & compliance

Planning, implementation, & compliance

Frequently Asked Questions

Financial statements play a crucial role in assessing the financial health and performance of a company. They provide valuable information to stakeholders, including shareholders, investors, creditors, and regulatory authorities. Well-prepared financial statements are important for the following reasons:

  1. Compliance: Companies in Cyprus are required to prepare financial statements in accordance with the Cyprus Companies Law, International Financial Reporting Standards (IFRS), and Cyprus Accounting Standards (CAS). Compliance with these standards ensures transparency and consistency in financial reporting.
  2. Decision-Making: Financial statements provide key insights into a company’s financial performance, liquidity, and solvency. They assist management in making informed decisions related to resource allocation, investment opportunities, and business strategies.
  3. Stakeholder Confidence: Accurate and reliable financial statements enhance stakeholder confidence. Investors, lenders, and other stakeholders rely on financial statements to assess a company’s financial viability and potential for growth.

Our financial statement preparation services adhere to internationally recognized accounting standards, including the International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS). By ensuring compliance with these standards, we help ensure the accuracy, consistency, and transparency of your financial statements.

At IBCCS TAX, we offer comprehensive services for the preparation of financial statements tailored to meet the specific requirements of Cyprus companies. Our services include:

  1. General Ledger Maintenance: We maintain your general ledger, ensuring that financial transactions are accurately recorded, classified, and organized.
  2. Trial Balance Preparation: We prepare trial balances that summarize the balances of accounts in your general ledger, providing a basis for further analysis and review.
  3. Income Statement (Profit and Loss Statement): We prepare income statements that present your company’s revenues, expenses, and resulting net income or loss over a specific period.
  4. Balance Sheet Preparation: We prepare balance sheets that present your company’s assets, liabilities, and shareholders’ equity at a specific point in time, providing an overview of its financial position.
  5. Cash Flow Statement: We prepare cash flow statements that outline the inflows and outflows of cash within your company, offering insights into its cash generation and management.

At IBCCS TAX, we understand the importance of reliable financial statements for your business. Our team of experts possesses extensive knowledge of Cyprus accounting standards and regulations, ensuring that your financial statements are prepared with precision and compliance.

By entrusting us with your financial statement preparation, you can have confidence in the accuracy and reliability of your financial reporting, allowing you to focus on core business activities.

Contact us today to discuss how our financial statement preparation services can assist your Cyprus company in meeting its financial reporting needs.

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Seamless Transitions and Tailored Tax Solutions

Since 2014 we’ve continually explored new ways of finding viable solutions. Our vision is to keep doing business that inspires us to create more. Our mission is to create a better everyday operating life for the businesses and to offer a wide range of tailor-made solutions.
We assist our clients in relocation and at all stages of their entrepreneurship adventure: from structuring the business in a tax-efficient manner, through the daily administration and operations of the companies.

What people say about us

Management Team

Cezary Zieniuk

Managing Partner

Jowita Jablonska

Managing Partner

Anna Gavriilidi

Accounting Department Manager