We provide accounting services in Armenia for both residents and non-residents from Russia, Belarus, Kazakhstan, Georgia, and other countries. Our team consistently supports clients in accounting, bookkeeping, and financial reporting.
Accurately prepared financial statements and a well-structured accounting system are essential business tools. Our clients expect us to understand their business, implement and maintain a financial accounting system tailored to their operations, and keep them informed of legislative changes.
You can be fully confident that we apply the same meticulous and detail-oriented approach to all companies, regardless of their size or financial volume, ensuring the highest level of service. We also assist in remotely registering an LLC (ООО) or Sole Proprietorship (individual entrepreneur) in Armenia without requiring a physical visit, or we can assist with in-person registration in Yerevan.
We ensure accurate and timely bookkeeping while dedicating time to interpreting financial data, enabling clients to make informed decisions. Additionally, we offer recommendations for improving accounting processes and internal control systems.
You can delegate some or all of your daily accounting functions to us. We offer customizable service levels, whether you need financial and tax reporting, full accounting system setup and management, payroll accounting, or specific financial operations.
Our diverse team of accounting professionals will be assembled to meet your specific needs, regardless of your company’s size or business volume.
If you need to liquidate an LLC in Armenia, we can facilitate the process remotely.
International Financial Reporting Standards (IFRS) in Armenia
The Republic of Armenia officially adopted IFRS in December 2008 by amending the Law on Accounting. According to the law, all organizations in Armenia, except micro-organizations, must prepare their financial statements in compliance with IFRS.
Who is required to follow IFRS?
- Financial institutions, including banks, credit organizations, payment processing institutions, investment firms, pension and venture funds, insurance companies, and others.
- Other organizations, except those classified as micro-organizations.
Accounting for Micro-Organizations
According to Armenia’s Law on Accounting, micro-organizations with annual turnover below 100 million AMD are exempt from mandatory IFRS compliance. Instead, they are allowed to apply a simplified accounting framework. However, the Armenian government has not yet officially published these simplified guidelines. Instead, the IFRS for SMEs Guide, designed for micro-businesses, serves as an alternative.
IFRS for SMEs
All small and medium-sized enterprises (SMEs) that meet the IFRS for SMEs definition can use IFRS for SMEs instead of full IFRS. This standard was adopted by the International Accounting Standards Board (IASB) in 2009, and its official Armenian version was published in 2010 by Government Decision No. 1209-N.
Accounting Services in Armenia
We provide the following accounting services:
✔ Bookkeeping and accounting management
✔ Preparation of financial statements in compliance with IFRS
✔ Tax calculations and reporting
✔ Management reporting
✔ Regulatory reporting (e.g., Central Bank, Public Services Regulatory Commission, etc.)
✔ Audit and diagnostics of accounting and internal control systems
✔ Development and improvement of accounting and internal control systems
✔ Payroll accounting
✔ Cash operations
✔ Inventory management
✔ Navigation and record-keeping assistance
With our expertise in Armenian accounting and financial regulations, we ensure your business stays compliant and operates efficiently within the legal framework. Whether you need full accounting services, tax reporting, or compliance with IFRS, we are ready to assist you.
