Accounting Outsourcing
Professional Accounting and Financial Reporting Services for Cyprus Companies
Book a Free ConsultationWhat We Offer
Accurate and timely accounting is the foundation of sound business management and regulatory compliance in Cyprus. The Cyprus Companies Law Cap.113 requires all companies to maintain proper books of accounts and prepare annual financial statements in accordance with International Financial Reporting Standards (IFRS) or IFRS for SMEs. CySEC-regulated entities face additional accounting requirements including quarterly financial reporting, capital adequacy calculations, and specific disclosures. Our accounting outsourcing services provide comprehensive bookkeeping, financial reporting, and management accounting support, allowing you to make informed business decisions while ensuring full compliance with Cyprus accounting standards and regulatory requirements.
The Cyprus accounting environment combines international standards with local requirements, creating complexity for businesses operating in the jurisdiction. All Cyprus companies must file annual financial statements with the Registrar of Companies within specified deadlines, with penalties for late filing. CySEC-regulated investment firms must prepare quarterly financial reports, maintain adequate capital resources, and comply with specific accounting standards for financial instruments. Our accounting team has deep expertise in Cyprus GAAP, IFRS, and regulatory accounting requirements across multiple sectors including financial services, gaming, shipping, and trading. We provide end-to-end accounting support from daily bookkeeping through annual audit coordination, management reporting, budgeting, cash flow forecasting, and financial analysis to support strategic decision-making.
Services at a Glance
- Bookkeeping Services
- Financial Reporting
- Management Accounts
- Audit Coordination
- Financial Statement Preparation
- Budget Planning & Analysis
- Cash Flow Management
- Year-End Accounts
Why Cyprus Accounting Standards Support Business Growth?
International Standards
Cyprus requires IFRS or IFRS for SMEs for financial reporting, ensuring international credibility and comparability for investors, lenders, and business partners worldwide.
Clear Regulatory Framework
Cyprus Companies Law Cap.113 and CySEC directives provide clear accounting requirements, filing deadlines, and audit obligations for different company types and sizes.
Simplified Compliance
Electronic filing systems, standardized chart of accounts, and clear guidance from ICPAC (Institute of Certified Public Accountants) simplify accounting compliance.
Professional Expertise
Cyprus has a large pool of qualified accountants, auditors, and financial professionals with international qualifications (ACCA, CPA, ICAEW) and multilingual capabilities.
Our Full Range of Services
Bookkeeping Services
Daily recording of all financial transactions, bank reconciliations, accounts payable and receivable management, expense tracking, and maintenance of general ledger.
Financial Reporting
Preparation of IFRS-compliant financial statements including balance sheet, income statement, statement of changes in equity, cash flow statement, and notes.
Management Accounts
Monthly management reports with key financial metrics, variance analysis, departmental reporting, and customized dashboards for informed decision-making.
Audit Coordination
Full coordination with external auditors including preparation of audit schedules, supporting documentation, resolution of queries, and implementation of recommendations.
Financial Statement Preparation
Year-end financial statement preparation in accordance with IFRS or IFRS for SMEs, including all required disclosures and notes to accounts.
Budget Planning & Analysis
Annual budget preparation, quarterly reforecasts, scenario analysis, and financial modeling to support strategic planning.
Cash Flow Management
Cash flow forecasting, working capital management, liquidity analysis, and recommendations for optimizing cash position and funding requirements.
Year-End Accounts
Complete year-end closing procedures, adjusting entries, depreciation calculations, provisions, accruals, and preparation of final accounts for audit.
Our Proven Process
Accounting Setup
We establish your chart of accounts, accounting policies, and procedures aligned with IFRS requirements and your business needs, and integrate with your banking and systems.
Monthly Bookkeeping
Daily transaction recording, bank reconciliations, accounts payable and receivable management, expense tracking, and preparation of monthly management accounts.
Financial Reporting
Preparation of monthly, quarterly, and annual financial statements including balance sheet, income statement, cash flow statement, and notes to accounts.
Audit & Filing
Coordination with external auditors, preparation of audit schedules, resolution of audit queries, and filing of financial statements with Registrar of Companies.
Common Questions Answered
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Contact UsCyprus companies must prepare financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU. Small companies may use IFRS for SMEs, which is a simplified framework. CySEC-regulated entities must follow specific accounting standards for financial instruments and regulatory reporting. All financial statements must be filed with the Registrar of Companies within 9 months of year-end.
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