Russian to Chinese accounting conversion
Your Russian subsidiary's books, in a form head office can consolidate
A Russian subsidiary keeps its books under Russian standards: the accounts, formats and treatments all differ from Chinese ones. At consolidation, head office receives a Russian report that has to be translated and manually restated — slow, expensive and error-prone. We turn that into a standing procedure.
Why us
A mapping table
Russian and Chinese charts of accounts mapped once and reused thereafter.
Regular Chinese-language statements
Balance sheet, profit and loss and cash flow, prepared under Chinese treatments.
Ready to consolidate
Formats and treatments built to your finance team's requirements, with no second pass needed.
Differences explained line by line
Every difference in treatment is documented — something you can put in front of an auditor.
Figures pulled automatically
Data comes straight out of 1C instead of being carried across by hand.
Exchange rates
Translated under the applicable rules, with exchange differences shown separately.
How we work
Map
We work through the Russian database and build the account mapping and conversion rules.
Convert
Monthly or quarterly, figures are pulled and Chinese statements produced.
Reconcile
Explanations of differences and reconciliation with your finance team and auditors.
FAQ
How is this different from translating the report?
Translation changes only the language; the treatments stay Russian and still have to be restated at consolidation. We change the treatments: accounts are regrouped under Chinese standards, so the statement is ready to consolidate as it arrives.
How often?
Usually monthly, quarterly if you prefer. We can add a full version ahead of an audit.
Does the Russian side need to be involved?
We need access to the 1C data. If we also run the 1C, no additional coordination is needed from you.
Will auditors accept it?
We provide line-by-line explanations of differences and the conversion working papers. Whether it meets your specific auditor's requirements is worth confirming with them before we begin.
Ready to enter the Russian market?
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