One of the major issues that foreign companies face in Turkey is that they are not able to obtain financial reports (or management accounts) that they need to run their business effectively and efficiently. Considering this fact Cerebra with professionals having national and international experience has positioned itself as one of the best service provider with respect to the financial reporting in Turkey. 

How our Financial Reporting Services work?

1. Bookkeeping of your source documents into the accounting system by accounting personnel under the supervision of your Certified Public Accountant assigned by Cerebra
2. Closure of your books at periods which are determined by you (daily, weekly and monthly)
3. Review of your financial data, draw your attention to any issues arising and process of any adjustments or reclassification before preparation of financial reports
4. Preparation of financial reports (management accounts) of which format and content have been determined by you
5. In accordance with the deadline set by you Cerebra submits your financial reporting. 

Foreign Companies in Turkey - Group Reporting for Consolidation Purposes

For foreign companies having a subsidiary, joint venture or investment in Turkey, we prepare the subsidiary's management reporting package for consolidation purposes in accordance with relevant Group Accounting Manual or IFRS/US GAAP. We have deep expertise within this area of reporting.

Companies which do not have well structured financial reporting or their reporting needs improvements

Foreign subsidiaries operating in Turkey that do not have a financial reporting package or management accounts, you can benefit our detailed "Financial Reporting Solution Package” which provide full spectrum of financial reports you need. We prepare complete set of reports each month that provide you an accurate picture of your financial position and performance. You can either use our well-established reporting forms or tailor them in accordance with your business needs and expectations (customized reports).

Our "Financial Reporting Solution Package” include:

• Key performance indicators including highlights and observations
• Balance sheet, profit and loss (month and year-to-date) and cash flow statements with comparable figures and budgets/forecasts (if any)
• Variance analysis
• Relevant macroeconomic data and analysis
• Relevant industry information and benchmarks (if available),
• Cash position
• Accounts receivables aging
• Accounts payable aging
• Departmental reporting
• Effective graphs including highlights and observations
• Suggestions/recommendation on the business processes and operations (if any)

We can prepare a complete set of financial reports for your company including (but not limited to) the above mentioned reports. Feel free to ask for additional customized reports that will further help you manage your operations for greater efficiency and profit.

Why would you need Financial Reporting?

• You do not use financial reporting effectively in your decision making process,
• You need an unbiased, fair & transparent financial reports,
• You have a reporting package but you are not satisfied with the format and the adequacy of financial data and disclosures therein,
• You have set up a reporting package but it lacks an integrity and it does not provide required financial information completely and accurately,
• You do not have a reporting package so that you must have one to run your business effectively and efficiently.