Baker Tilly in Russia

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Wholesale and retail trade has been one of the main drivers of economic growth in Russia since the beginning of economic reforms. However, economic crisis, downturn in consumer demand  and new regulatory restrictions create a number of substantial problems for entrepreneurs, especially among small and mid-size businesses. 

However, despite the challenges, development of this segment is very important for economic growth of the country in general and for market players in particular. That is why companies have to adapt to new market conditions, look for new opportunities and react to changes in consumer demand and behavior.

Our team has successful experience of working with representatives of retail as well as wholesale sector. Thanks to long-term collaboration with our clients and accumulated practical knowledge, we are able to assist you in assessing risks your business has to face and to provide comprehensive support. We have the required qualifications and experience to provide accounting, audit and legal services, as well as to assist in upgrading financial indicators and business performance. We are ready to propose solutions in the sphere of developing business strategies under the circumstances of growing competition in the market.

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Key Experts

Anna Zasimova

Partner
Audit and related services
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Sergey Kalinin

Partner
Accounting services
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Alexander Malkov

Partner
Audit and related services
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Denis Zhivchikov

Director
Corporate finance
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Leonid Landa

Director
Consulting
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Tatyana Anosova

Senior Manager
Accounting services
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Olga Lidogoster

Director
Accounting services
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Ekaterina Yurasova

Senior Manager
Audit and related services
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130000
Our clients active in this segment employ more than 130 thousand specialists
50
More than 50 qualified specialists from various service lines are engaged in providing services to our clients in this segment
70
Revenues from servicing our clients active in this segment exceeded RUR 30 mln in 2016
3
Оur client are among TOP-3 of the famous apparel manufacturers
2
Оur client are among TOP-2 of furniture manufacturers
1
Оur client is a leader in toys wholesale in the Russian market
10
We have over 10 years of industry specialization
3
Our clients represent TOP-3 largest pharmaceutical distributor networks in Russia
3
Our client represent TOP-3 largest drugstore chains in Russia
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Business cases
Setting up day-to-day warehouse inventory accounting in real-time and computerizing preparation of labor-consuming management accounts in accordance with corporate standards of the group for a company - the leading European manufacturer of winch trucks
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Setting up day-to-day warehouse inventory accounting in real-time and computerizing preparation of labor-consuming management accounts in accordance with corporate standards of the group for a company - the leading European manufacturer of winch trucks

Client

Client is the leading manufacturer of winch trucks in Europe and a Top3 globally. The core activity of the Russian legal entity in the group - wholesale distribution of winch trucks.

Objectives

  • Real-time accounting system for the Russian company of the group;
  • Restoring past period accounting on a tight schedule; 
  • Setting up day-to-day warehouse inventory accounting for a large number of commodity items;
  • Detailed analytics on the basis of IFRS with the use of profit-centers and cost-centers for month-end closings;
  • Setting up  management accounts of the Russian company for subsequent consolidation with management accounts of the group.

Proposed solutions

  • Structures accounting process inbuilt in business processes of the Client;
  • A unique accounting software configuration was created on the basis of 1C program;
  • Parallel IFRS accounting was set up in order to provide accounting data to the group in accordance with the corporate format and month-end closing schedule;
  • Additional reporting process was set up in order to enable the Client to monitor on a daily basis the financial condition of the company and receive detailed data on profit-centers and cost-centers.

Deliverables for the Client

  • Past period accounting restored in accordance with corporate policies;
  • Real-time day-to-day warehouse inventory accounting system;
  • Up-to-date information on tax calculations and tax return preparation;
  • High level of accounting data detailing;
  • Reconciliation of accounting records and management accounts;
  • Accounting period closing procedure for the purposes of consolidation of accounting information within the group and computerization of preparation of labor-consuming reports on a tight schedule in accordance with the group's reporting schedule;
  • Day-to-day functional support as needed.
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Consulting on transfer pricing and preparation of documents
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Consulting on transfer pricing and preparation of documents

A large multi-brand retailer and wholesale distributor of footwear and apparel in the Russian market engaged us to calculate arm's length range of the market in order to minimize Russian tax risks related to transfer pricing, as well as to prepare documents related to a controlled import transaction.

Within the framework of the task, we performed analysis of comparable companies and determined arm's length range. After the first stage of work was over and its results were approved by the client, we prepared documents in Russian and English language.

Upon discussing our deliverables on the level of the Russian and European offices, the client chose and implemented an optimal operational structure for its business in Russia and received justification for the market level of purchase prices used in the controlled transaction.

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Appraisal of fair market value of assets and liabilities
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Appraisal of fair market value of assets and liabilities

Our company performed fair market appraisal of assets and liabilities of one of the largest drug-store chains in Russia within the framework of preparing consolidated IFRS financial statements of the unified company. 

Results of our appraisal were approved by an audit company.

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Valuation for a pharmaceutical retail chains merger
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Valuation for a pharmaceutical retail chains merger

Our specialists performed valuation within the framework of a merger of two largest pharmaceutical retailers in Russia. 

Valuation results were used to calculate market value of a contribution to the capital of one of the companies and offering price for additional issue of the other company.

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Risk comes from not knowing what you’re doing.

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Remember There’s No Such Thing As An Unrealistic Goal – Just Unrealistic Time Frames.

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Steve Jobs
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