Accounting

Hello, my name is Linsey Lohan, I’m chief accountant in “Rolic” enterprise.

Accounting in general is recording, classifying, summarizing, and interpreting financial transactions to provide management and other interested parties with the information they need to make correct financial decisions. So our whole team is working on this. As for me, my main task is preparing financial statements as the final products of accounting.

Financial statements are means of communicating important accounting information to users: management, bank, State administration, Tax authorities, suppliers, customers, investors. They shows the business in financial terms. The main financial statements are the Income Statements and the Balance Sheet.

The Income Statement shows financial position of a business over a definite period of time. It summarizes the revenues earned and expenses paid by a business over a period of time. So, its main formula is Revenue – Expenses = Gross Profit or Loss. Gross profit is profit before taxes.

The Balance Sheet shows the financial position of a business on a certain date, usually the end of the month or year. For this reason, it often is called the statement of financial position and is date as of a certain date. The accounting equation of the Balance Sheet is Assets= owner’s equity+ liabilities.

Our accountants often prepare key financial indicators such as gross income, profit or loss, profitability, solvency, financial stability and others which help our managers make decisions.

13.Auditing.

Audit (English auditor - auditor) - services to evaluate the financial statements of the company in view of the accuracy of the information and opportunities for the firm in business.

The external audit conducted by the special audit firm, explains: enforcement of accounting and reporting of transactions, which provides corporate enterprise, the state of internal controls in a corporate enterprise and its assessment, compliance with corporate enterprise provisions of laws and regulations of Ukraine of economic objectives established by a general meeting of owners.

internal Audit carries out an internal audit service companies that periodically review and evaluate: a) the adequacy and effectiveness of systems and internal process control, and b) management of economic and financial risks, c) the completeness, timeliness and accuracy of financial and other reports, d) compliance with the principles and internal accounting procedures and e) compliance with regulatory requirements.

14. Insurance companies. Надання страхових послуг.

Insurance companies - are financial intermediaries that carry out payment

its clients to the occurrence of certain events specified in the contract

insurance

The insurer offers its customers insurance services, acting as a specific product in the insurance market.Insurance compared to the listed services - is this a service that requires an insurer of certain efforts to form the need for this service. Signs describing the insurance service. For economic characteristics distinguish life insurance and general insurance. With the object of insurance are the following types:

personal Insurance

property insurance

liability insurance.

The status of the insured produce insurance services to protect the interests of citizens, ie individuals, and those that serve the interests of subjects of entrepreneurial activity.