Financial statements from Russia

Schmidt & Schmidt offers financial statements from Russia in electronic form and their translations into English.

According to law, most Russian commercial companies must submit annual financial statements. These data are reported in electronic form or in paper.

Reporting of financial statements in Russia is subject to the Federal Law from 06.12.2011 No. 402-F3 “On Accounting” and other regulations.

In Russia, the IFRS are used, among others, by listed and financial companies. The main standards in use are the Russian Accounting Standards which are mandatory for non-bank commercial institutions.

In Russia, financial statements are filed to Russian Federal Tax Service and to Federal Statistics Service. With latest law changes, there are plans to abolish the obligation of filing financial statements to Statistics Service.

Financial statements must be filed no later than three weeks after the end of the financial year.

In some cases, financial statements must be reviewed by an auditor.

Audit is mandatory for:

• Joint-stock companies
• Professional participators of stock exchange
• Insurance companies
• Non-state pension funds
• Credit organizations
• Companies filing consolidated financial statements
• Companies with a revenue over 400 million RUB
• Companies with assets over 60 million RUB

All commercial companies must file:

• Balance sheet
• Profit and loss report
• Equity statement
• Cash flow statement
• Notes

Small companies using simplified accounting methods submit their statements in a simplified form.

Only sole proprietors who do not keep accounting records, are exempt from the obligation to file financial statements.

Example of Russian financial statement in the Russian language.

Financial statements provide detailed information about a company’s financial state, solvency and performance of an enterprise.

Depending on the size of the enterprise, its financial statement can contain up to several hundred pages.

There are several ways to acquire a financial statement of a Russian company:

• Request with a special online service of the Russian Statistics Service
• Order the financial statement on the website “State services” (Gosuslugi)
• Financial statements of companies participating in stock exchange can be requested from a center for corporate information or directly on the website of the stock exchange

Financial statements can provide valuable information about potential business partner which can be used for making decisions like purchasing capital shares or goods or taking legal action to collect debts.

To obtain financial statements of a specific enterprise, its full name, the number according to Russian National Nomenclator of Businesses and Organisations or tax number and the requested time period are required. The results can be provided personally, via post or email.

Financial statements are provided in accordance with the Russian legislation and legal requirements on personal data protection.

Requests are proceeded within one working day.

On our website, you can make a preliminary request if a certain company’s financial statements are obtainable.

Financial statement from Russia: 15 EUR

Translation of a financial statement into English: from 35 EUR

What are financial statements?

In our video, we explain the definition and function of financial statements and how you can verify the reliability and solvency of your foreign business partner.

Should you wish to check the sincerity of your foreign business partner’s request, Schmidt & Schmidt will gladly assist you.

We offer annual financial statements from more than 100 countries all around the globe.