TEDIS Ukraine has adopted financial reporting based on international standards

10 Jun

This step ensures quality financial reports prepared according to the rules adopted worldwide. The interim reporting for 2019 has been already submitted, and it meets all the IFRS requirements while fully presenting the real Company’s financial performance.

TEDIS Ukraine adopted financial reporting based on international standards. In such a way, the company has been keeping records and reporting in accordance with IFRS requirements since January 1, 2019.

“The transition to IFRS is a necessary strategic step for the company as well as a condition for its further development and success because it ensures quality financial reports prepared according to the rules adopted worldwide. IFRS reporting allows to speak the same language with contract partners, enhances creditor confidence and guarantees the transparency and clarity of financial information reflected in reports,” said Taras Korniyachenko, CEO of TEDIS Ukraine.

For information:

IFRSs are documents adopted by the International Accounting Standards Board headquartered in London and determining the procedure for preparing and submitting financial reports.

As of 2018, TEDIS Ukraine was among the 5 leaders among the wholesale trade enterprises in the TOP-100 largest taxpayers in 2018 ranking of the State Fiscal Service. Company paid taxes in the amount of more than 1,7 bln. UAH to the budgets of different levels. In 2015-2017, TEDIS Ukraine transferred taxes to the local and state budgets in the amount of more than 4.5 bln. UAH to the budget. The company remains a transparent and budget revenue-generating enterprise in many regions of Ukraine. TEDIS Ukraine provides official employment for 2,500 employees from all regions of Ukraine