Immediate participants in technological progress are gaining popularity among certain segments of the population, which means they must be constrained within their own rational limitations. Given the current international situation, the fundamental development vector requires an analysis of the economic feasibility of the decisions made. Each of us understands an obvious truth: a high-quality prototype of a future project represents a qualitatively new stage of profound reasoning! Incidentally, the immediate participants in technological progress illuminate extremely interesting aspects of the overall picture; however, specific conclusions are, of course, left to themselves.

Prospective planning is well-suited for implementing directions of progressive development. Considering key behavioral scenarios, the established organizational structure creates prerequisites for both self-sufficient and externally dependent conceptual solutions. Thus, existing theory speaks to the possibilities of innovative management methods for processes. Moreover, thorough competitor research represents nothing less than the quintessence of marketing triumphing over reason and should be viewed exclusively through the lens of marketing and financial premises.  Additionally, interactive prototypes are called to account.

Accounting and Tax Consulting

In the context of constant changes in accounting and tax legislation, a multitude of comments and clarifications that can have dual meanings, along with the extensive workload of company accounting departments, there frequently arise questions which regard the reflection of specific operations in accounting, the reduction or avoidance of tax risks, the accuracy of filling out forms for accounting, tax, and other reports, the preparation of primary documents, and more.

In such circumstances, the consultants at the Group of Companies BCA will help you quickly navigate complex situations, will conduct a problem analysis, and will provide comprehensive consultations and practical recommendations on your concerns in the shortest possible time.

The most in-demand consultation topics include:

• Establishing accounting practices in accordance with newly released accounting regulations
• Developing accounting policies, rules, and recommendations for accounting and tax practices that consider the specific activities of the company, as well as creating internal standards for accounting
• Designing measures to optimize expenses and taxation to enhance the profitability and attractiveness of the company, among others

Our specialists are also ready to assist in disputes with tax authorities.

Consultations can be provided in both written and oral forms, and remote consulting is also available with the transfer of necessary documents in electronic format.

Management Consulting

The primary objective of management consulting is to create a company’s management system that makes business management more transparent and efficient.

Within the framework of management consulting, work is conducted to create or optimize the management accounting system, management analysis is performed, budgeting systems are developed, and more.

Management Accounting

Management accounting is a system of internal accounting that provides information on costs and the results of a company’s activities for the purpose of making tactical (operational) and strategic (forecasting) management decisions.
Management accounting is oriented towards the needs of internal users, such as company executives, financial directors, and founders. This is why information in management accounting often falls under the category of commercial confidentiality.

A common problem for many companies is absence of such an accounting system, leading to management decisions being made based on accounting data, which is inherently flawed. The main goal of management accounting is to provide executives and managers with the necessary operational information so that they could make decisions and effectively manage the enterprise. In contrast, the goal of financial accounting is to generate information about the company’s assets and liabilities based on existing primary documents, in accordance with legal requirements, and to compile financial statements based on that information. Often, the methods used in financial accounting conflict with the objectives of management accounting.

The Group of Companies BCA, basing on extensive experience in building management accounting systems, has the capability to develop a unique system tailored to the specific goals of a company’s management, which can serve as a foundation for making effective strategic and tactical management decisions.

Within the framework of establishing management accounting, projects may be implemented separately for:

• Optimizing operational cost accounting for management and analysis purposes
• Developing a cost management system
• Creating a management document flow system
• Developing regulatory documents for organizing the management accounting system

The outcomes of establishing a management accounting system in a company include:

– Reliable and timely information about the company’s status and performance results, and their alignment with the set goals

– Effective control over the company’s assets, liabilities, and financial flows

– “Real” data for planning activities and analyzing the company’s strengths and weaknesses

– A transparent financial management system that allows for the achievement of the set goals

The developed and implemented management accounting system can be automated within 1C software.

Conducting Management Analysis:

Management analysis includes the analysis and evaluation of a company’s financial and economic activities aimed at obtaining sufficient information for making justified management decisions.

Management analysis like management accounting, addresses issues related to cost formation, resource efficiency, and production and sale of products.

Often, the lack of mechanisms for conducting management analysis leads to decreased efficiency in a company’s operations, and unaddressed issues of declining efficiency can result in unexpected negative consequences such as losses or even bankruptcy.

The analytical department of the Group of Companies BCA uses specially developed analytical methodologies for companies across various business sectors, considering industry-specific characteristics, which allows for the rapid and effective identification of “bottlenecks” in enterprise operations.

If your company is experiencing declining profitability, solvency issues, a decrease in net asset value, or a tax burden that prevents the release of cash for company development, you need:

• Management analysis of the company’s profitability and business activity (including calculations of project effectiveness and profitability for the future)
• Analysis of financial and economic activities, as well as economic and financial consulting
• Development of a KPI (Key Performance Indicators) system
• Management consulting, including restructuring advice
• Analysis of the minimum tax burden based on the company’s specific activities

Based on the identified deficiencies and observed trends within the company, a package of recommendations can be developed to halt negative processes and enhance the efficiency of financial and economic activities.

Establishing a Budgeting System (Financial Planning)

The manager of every successfully developing company eventually realizes that managing the business becomes more complex. Expansion of production, an increase in staff, rising tax burdens, large-scale investment attraction, entering new sales markets, and striving for international operations all create the need for an effective financial planning, control, and analysis system, as well as mechanisms for delegating responsibility for achieving planned results.

In other words, as companies grow, they need to establish a budgeting system.

Budgets help address three main management tasks:

– Forecasting the financial condition, the need for financial resources, and financial outcomes

– Comparing planned versus actual results

– Evaluating and analyzing identified discrepancies to respond to them in a timely manner

Today, the Group of Companies BCA facilitates the creation of budgeting systems in both large enterprises and small businesses whose leaders wish to maintain a manageable and transparent business through the establishment of four main budgets:

– Income and expenditure budget

– Investment budget

– Cash flow budget

– Forecast balance sheet

Within the framework of developing a budgeting system, the following is undertaken:

• Development and optimization of a unified budgeting system based on financial planning, which involves managing the process of creating, distributing, and using financial resources, as well as delegating responsibility for achieving planned results. This includes developing methodologies for forming income and expenditure budgets, cash flow budgets, investment budgets, and forecast balance sheets
• Development of methodological documents, including Budgeting Regulations and Budgeting Provisions

Legal Consulting

As practice with enterprises in various business sectors shows, in-house lawyers often have a rather narrow specialization, being experts in the knowledge required for work at a specific company. However, this is sometimes insufficient.

During business operations, there  arise questions for which it is advisable to consult a specialized company.

Within the framework of legal consulting, the lawyers of the Group of Companies BCA are ready to assist in solving the following issues:

• Changing the legal address
• Processing registration actions related to amendments to the company’s founding documents
• Developing and drafting foreign economic contracts, as well as conducting legal analysis of these contracts
• Providing legal advice in the field of civil law and on legal issues related to entrepreneurial activities
• Developing internal documents for the organization
• Representing interests before government bodies and conducting correspondence on behalf of the client
• Managing and supporting court cases concerning tax and civil legislation

The successful experience of the lawyers at the Group of Companies BCA allows us to effectively resolve any legal problems that arise for companies.

Currently, debt collection arising from non-performance or improper performance of supply, lease, sale contracts, commercial concessions, construction contracts, household contracts, design and survey works, etc., is becoming increasingly in demand. This includes debt recovery based on contracts, including promissory notes.

Debt collection in modern conditions is a complex process that requires specialized knowledge, experience, and operational capabilities.

When considering the possibility of going to court, it is necessary to consider that Article 196 of the Civil Code of the Russian Federation limits the statute of limitations. This period is three years and begins to run from the moment when a person learned or should have learned about the violation of their rights.

Collecting debts through court proceedings is not as trivial as it may seem at first glance. It has many pitfalls and nuances that can only be navigated by a qualified lawyer.

Judicial debt collection has certain specifics, including calculating the statute of limitations, determining the amount of interest due to the creditor, state duties, procedures for filing a lawsuit, etc.

According to Russian Federation legislation, to recover a debt, it is necessary to present documents confirming the existence of the debt. In such circumstances, when seeking legal assistance on this issue, it is advisable to have copies of documents confirming the existence of the debt.

Upon receiving copies of documents from you that confirm the existence of the obligation, our specialist will review them and assess the prospects for recovering the debt out of court. They will develop a debt recovery strategy and represent your interests in court.

Conducting Marketing Activities

It is no secret that the key to a company’s success lies in its proper positioning in the market, the availability of a product, work, and service assortment that is in demand by consumers, and the thoughtful development of a pricing system that considers possible discounts, markups, bonus programs, and much more.

Often, when companies enter a new sales market, they hope for success without putting in significant effort to develop effective marketing strategies or paying much attention to pricing decisions. As a result, they frequently face failures, and their business becomes ineffective.

In such situations, the key areas for “saving” the business are:

• Developing a pricing system (including the development of a Pricing Policy and pricing strategies)
• Calculating and analyzing the optimal price level

As practice shows, as a result of developing and implementing an effective pricing system, a company’s financial condition improves even in the short term.

Due Diligence

Often, in anticipation of an upcoming investment in the acquisition of an investment object, questions arise related to the assessment of risks associated with the acquired object:

– The risk of acquiring a company (or a share package) at an inflated price

– The risk of non-fulfillment of obligations by the debtor enterprise

– The risk of loss of property or money

– The risk of causing harm (losses), including to intangible assets such as business reputation

– The risk of initiating litigation and its adverse consequences

– The risk of seizure of property or the application of other security measures

– The risk of the transaction being declared invalid

– The risk of attracting tax, administrative, or criminal liability

– The risk of not obtaining or losing necessary permits, licenses, and approvals that are crucial for the project, transaction, etc.

To avoid these business risks or to minimize them as much as possible, the most effective tool is to conduct a Due Diligence procedure. This procedure involves assessing the state of affairs in a company, which is necessary during its restructure, sale or acquisition, merger, or liquidation.

The Due Diligence procedure entails a comprehensive analysis of the company’s activities from the perspectives of financial analysts, auditors, and lawyers. Each group of specialists prepares a detailed analytical report for the client.

Within the framework of conducting Due Diligence, conclusions can be provided on all aspects as well as specific areas of the company’s operations.

As a result of conducting Due Diligence in the form of a report, the following is provided:

– An assessment of the value of the share package (the value of the property complex, the value of the business)

– An evaluation of the accounting system and reliability of reporting, results from financial analysis, and assessment of tax risks

– A legal assessment of risks associated with completed transactions

Setting Up and Optimizing Business Processes

In any organization, all activities are divided into separate processes that form a unified system. However, these processes are often not adapted to the specific nature of the company’s operations, which disrupts the system’s coherence and naturally leads to a decrease in overall efficiency and financial results.

In such situations, we are ready to assist in the systematic organization of the company’s work, which includes analysis, optimization, and standardization of business processes.

As a result, you will receive standardized business processes aimed at enhancing asset preservation and improving the efficiency of the company’s operations:

– The company’s activities become transparent, allowing for improvements in operations, refining the procedures for regulating and compensating staff labor, and more

– Employees better understand the organization’s goals, which leads to increased manageability

– The quality of the final product improves: each process records how its quality can be enhanced

The work on optimizing and establishing business processes is conducted step by step:

1) Before starting optimization work, a description (model) of the existing business processes within the company is created (“As Is”). The descriptions must be clear and unambiguous, reaching down to the level where specific employee tasks are visible. The scope of the models can vary, either focusing on individual business processes or on interrelated groups. Naturally, the more processes described in the model, the better and broader the assessment of their optimality is

2) When evaluating optimality, each part of the business process performed by a specific executor is analyzed first. This assessment checks what constitutes a successful outcome, what data or materials the executor receives as input, what actions they take with them, how optimal their actions are, and the time taken to complete the procedures

3) After analyzing each procedure and identifying clear deficiencies, the optimality of managing the business process as well as that of the group of processes is evaluated. The results of this assessment should highlight deficiencies in the process and/or group of processes

4) In the next step, proposals for corrections based on the identified deficiencies are developed. The process model is redrawn to reflect these changes (“To Be”), and adjustments to the actions of executors and their composition are made where necessary

5) In the final step, potential drawbacks from the proposed improvements in other areas of the process are assessed, including possible resistance from the employees

The success of optimization largely depends on the accuracy and depth of understanding of the current situation. To achieve this, optimal information about operations is collected and structured.

Based on the conducted analysis of business processes, proposals for their optimization are developed. Internal regulations for business process management are created and approved for each business process before being implemented within the company.

Examination of the State of Financial and Economic Activities

In the aftermath of the economic crisis and limited resources, along with a decline in the qualifications of employees in the fields of economics, finance, and law, company leaders and founders often have doubts about the effectiveness of business operations, the accuracy of tax calculations and payments, and the efficiency of the internal control system. This includes monitoring the presence and safety of assets, necessitating a real assessment of tax and legal risks associated with conducting business within the company, as well as evaluating the good faith in fulfilling the duties of functional managers, among other concerns.

In such conditions, we assist companies by conducting an expert assessment of their financial and economic activities.

As part of this assessment, we carry out::

– An evaluation of the internal control system

– An examination of accounting practices and financial reporting

– A review of tax accounting

– An assessment of financial status based on an express analysis of key indicators of financial and economic activity derived from financial (accounting) reports

The evaluation of the internal control system allows for the identification of “bottlenecks” in the company’s management system, assess risks related to potential asset theft, and evaluate the internal control environment concerning accounting management, contractual relationships, personnel documentation, etc.

The examination of accounting practices and financial reporting enables an assessment of the accounting system’s effectiveness, completeness in reflecting transactions in accounting records, correctness in documenting conducted operations, and identifying existing risks regarding potential distortions in financial (accounting) reports.

The review of tax accounting provides an opportunity to identify existing tax risks and minimize tax consequences in terms of imposed tax sanctions.

The assessment of financial status based on an express analysis of key indicators from financial (accounting) reports allows for determining how financially stable and solvent a company is, evaluating its operational efficiency, and identifying risks related to potential bankruptcy.

A comprehensive assessment of financial and economic activities serves as an effective mechanism for obtaining information about the real state of affairs within a company.

Training

In the context of constantly changing legal requirements, the specifics of company operations, and staff turnover, there is a need for continuous training and professional development for specialists in economic professions.

One of the areas of activity of the Group of Companies BCA is organizing training events focused on economics in the form of seminars and workshops.

The Group of Companies ВСА, in collaboration with partner companies, organizes specialized educational seminars, webinars, round tables, and master classes in the following areas::

• Accounting
• Tax accounting
• Auditing
• Financial consulting
• Management consulting
• Automation of business processes based on the “1C” software products

As time has shown, the experience we have accumulated over many years of working in the audit and consulting services system finds wide practical and scientific application. It would be unfair not to share such experience with you.