Fisheries, forestry and processing industries
No one would argue that these two sectors - fisheries and forestry - have long been under the scrutiny of the Russian government. Decisions designed to increase their efficiency for the country's economy are not always consistent and are often not understood by the business entities involved.
Apart from the fact, that has already happened to the fishermen - holding "crab auctions" - the possibility of holding auctions for other fish species is being actively discussed; the right to use the auction quotas should be supported by investment projects on fleet renewal.
Equally global changes are taking place in the timber industry, although they started earlier - the customs policy for round timber exports has been tightening for a number of years, and the government does not yet intend to abandon the introduction of barrier duties to encourage the industry to switch from logging to processing. Legislation on forest protection is also becoming stricter, increasing the industry's risks.
In such circumstances, business owners need qualified help to accurately report their financial position and performance:
- how to correctly estimate "auction" and "historical" quotas, as both have the
- same value and allow the same products to be produced;
- how best to account for the cost of repair and modernisation of production assets when forming the cost of finished goods
- how to qualify lease relationships;
- how to qualify transactions with "friendly" companies for the development of quotas;
- which taxation regime will best serve the interests of business owners and the budget;
- how to disclose the company's attractiveness to potential investors and lending institutions.
Some of these issues are only applicable to Russian companies, but the specifics of the industry affect every region of the world and Mainstay's experience has been providing solutions for "fishermen and foresters" for over 20 years - so we understand exactly what is important to you.
We are ready to offer all the services you expect, including:
- preparation and verification of accounting and financial statements for companies of any profile - extracting, processing, replenishing bioresources;
- preparation of monthly/quarterly reports, including special purpose reports - individual company; group; upon request from lending institutions;
- advice on compliance with relevant legislation;
- advice on corporate restructuring and corporate governance;
- searching for finance / financing;
- advice and assistance on governance practices using IT solutions;
- application of IT systems in terms of revenue recognition and inventory control;
- legal consulting;
- tax consulting.
- analysis of the information and economic security system in place.