Universe Consulting Group

Accounting services in Ukraine since 1990

We keep the accounting and tax records of Ukrainian companies and of the Ukrainian entities of international groups, prepare reporting for the parent company, and implement and support accounting software.

Request a call Our services

Or let us begin with a free 45-minute diagnostic review: you describe your business in Ukraine, and we tell you which obligations and risks you already have.

Challenges

Key challenges of operating in Ukraine

Six bottlenecks that Ukrainian entities of international groups run into. Below is how we close them.

  • Two sets of books at once

    Ukrainian reporting follows Ukrainian GAAP (P(S)BU) and the Tax Code, while the head office expects its own figures, in its own format and to its own deadlines.

  • The law changes all year round

    Tax, currency and employment rules are revised constantly, and a missed change means additional tax assessments and penalties.

  • Accounting rests on one person

    If your in-house accountant goes on leave, falls ill or resigns, filing deadlines are at risk.

  • Continuity of work

    Power outages, air-raid alerts and relocation of staff — the reports still have to be filed on time.

  • Unclear tax risks

    The tax consequences of non-resident contracts and related-party transactions are unclear.

  • Software lags behind the business

    Half the reports are assembled by hand, and the data does not match what the parent company asks for.

Why us

Why clients choose us

  • 36 years without interruption

    We have kept accounts since 1990, and some clients have been with us since the 1990s. We know not only the current rules but also how they changed, which matters in inspections of past periods.

  • Four-eyes review

    The lead accountant’s work is checked by an automated control system and by internal audit, so errors are caught before they reach the report.

  • In-house developers

    Any customisation — a report, an integration, a data transfer — is done within one team.

  • Quick response, no layers

    Your question goes straight to the specialist who handles your work, and urgent matters are discussed directly with management.

  • Continuity

    Data backups, a distributed team, a stand-alone power system (SPS) and communications. Every client has a lead specialist and a designated back-up, so power outages and air-raid alerts do not shift reporting deadlines.

  • Responsibility and confidentiality

    Deadlines and quality of work are stated in the contract. All client information is confidential by default, non-disclosure obligations cover the whole team, and our information security management system is certified to ISO/IEC 27001.

Map of services

What we cover

We handle five lines of work ourselves. The sixth — specialised matters — we advise on and coordinate, while trusted partners carry out the work.

How we start

The first 30 days

From the diagnostic review to the first closed period, with every term agreed before work begins.

  1. 3–5 working days

    Diagnostic review

    We review the accounts, software, document flow and tax profile. The result is a short report: what is in order, what needs fixing and which risks have been inherited.

  2. After the diagnostic review

    Proposal

    Scope of services, team, fee, response times and period-close deadlines are agreed before work begins.

  3. 2–4 weeks

    Handover

    Database and source documents, verification of opening balances, reconciliations, access rights and electronic signatures, a plan to correct inherited errors.

  4. Four-eyes review

    First closed period

    We close the month, file the reports and deliver the first reporting package for the parent company.

  5. Fixed calendar

    Ongoing service

    Month-end close, reporting, a quarterly review of tax risks and advice as needed.

Ways of working

Take everything or only the part you need

The difference is how much of the finance function you hand over to us.

  • Full outsourcing

    When it fits
    You have no accounting department
    Included
    Accounting, tax, payroll, reporting, tax inspections

  • Chief accountant

    When it fits
    You have an accountant but lack senior expertise
    Included
    Methodology, control, responsibility

  • Selected functions

    When it fits
    One area is overloaded
    Included
    Payroll and HR, reporting, foreign trade

  • Project

    When it fits
    Single task
    Included
    Accounting records restoration, setting up accounting, software migration

  • Consulting

    When it fits
    You need a second opinion
    Included
    Contract review, risk review
Fixed fee

The fee depends on transaction volume, headcount and foreign trade activity. We fix it after the diagnostic review.

UAH 1,000,000

Our professional liability is insured up to this amount, as stated in the contract.

About the group

36years in accounting

In all these years we have not stopped work for a single reporting period. In 2022, under pressure of active hostilities, our clients filed their reports on time.

We are a small company and intend to remain one. Your work is handled by senior specialists rather than trainees under general supervision, and the director is available to you directly.

  1. 1990

    The accounting service centre Futurum is founded — one of the first private enterprises in Ukraine, registered immediately after private ownership was introduced by law.

  2. 2000

    To develop its consulting practice, Futurum establishes a subsidiary — Universe Consulting Group.

  3. Today

    Futurum and Universe Consulting Group work as a single structure: one team, one standard of work and an unbroken record of client service since 1990.

Services

Five lines of work we handle ourselves

Each line is set out below: what it includes, how it works and where our responsibility ends.

We keep the books under Ukrainian GAAP (P(S)BU) and prepare group reporting in the format set by the parent company.

Accounting outsourcing

Accounting and tax under Ukrainian GAAP (P(S)BU)

From full outsourcing to setting up the finance function: you choose how much of the work to hand over.

Full outsourcing
We become your accounting department: source documents, ledgers, taxes, all statutory reporting and representation during tax inspections.
Chief accountant support
We act as your chief accountant and primary documents stay with you.
Setting up accounting
Accounting and HR policies, document flow, internal procedures and the structure of the finance function.
Accounting records restoration
Document processing, stocktaking, amended returns and settlement with the tax authority — when an accountant changes, an asset is acquired or a sale is being prepared.
Tax certainty
We explain the tax consequences of each transaction and the reliefs that apply, and we build the records so that every transaction is supported by documents.

Partners

Audit and legal matters, coordinated by us

You keep a single contact person, and we take care of the rest.

Audit firm Standart

Audit and accounting outsourcing should be performed by different companies. We therefore provide audit services through our partnership with audit firm Standart, which is not part of our group.

Since 1999Register of Auditors No. 2304Statutory audit

About the firm

  • confirmed quality control system
  • work under International Standards on Auditing (ISA)
  • international professional certificates and membership in Ukrainian auditors’ associations

Available through the partnership

  • statutory and voluntary audit
  • assurance engagements
  • IFRS conversion of financial statements
  • ongoing audit support
  • due diligence when buying or selling an asset

Legal support

Doing business in Ukraine often raises questions beyond accounting. You set the task for us, and we select a trusted legal partner, agree the scope and budget and oversee the result.

  • company and representative office registration, register changes, liquidation
  • corporate governance: charter documents, shareholder resolutions, director’s powers
  • contracts and foreign trade agreements
  • employment law: hiring, dismissal, employees abroad, disputes
  • work permits and residence permits
  • personal data protection and EU compliance
  • inspections and disputes with authorities
  • real estate, licences and permits

Team

Who you will work with

Clients are handled by senior specialists, each with an assigned back-up, so work is never interrupted.

Viktoriia Sydorenko

CEO, Universe Consulting Group
Director of Futurum

She has headed both companies since they were founded, in 1990 and 2000. She specialises in setting up accounting: accounting policies, document flow and company procedures.

National Technical University of Ukraine Igor Sikorsky Kyiv Polytechnic Institute (NTUU KPI)
Engineer
State University of Trade and Economics (KNUTE)
Economist
(accounting and audit)

Yevhen Sydorenko

Head of the IT outsourcing department

He has led this practice for more than twenty years. A systems analyst, engineer in applied mathematics and economist, he is responsible for selecting, implementing and customising accounting software and for migrations between systems.

National Technical University of Ukraine Igor Sikorsky Kyiv Polytechnic Institute (NTUU KPI)
Engineer in
Applied Mathematics
Kyiv Slavistic University
Economist

Experience

Industries we have worked with

Client names are not disclosed under our confidentiality terms, so we name the industries instead.

  • Manufacturing
  • Electrical engineering
  • Biotechnology
  • Distribution
  • Logistics
  • Tourism
  • Publishing
  • Education
  • Professional services

Ukrainian companies

Ukrainian companies form the core of our client base: we have worked with some of them since the 1990s, while others came to us for individual projects.

Ukrainian entities of international companies

Subsidiaries, representative offices and joint ventures: we keep Ukrainian accounts and prepare reporting for foreign parent companies.

Contacts

Let’s start with a diagnostic review

45minutes, free

You describe the structure of your business in Ukraine, and we tell you which obligations and risks you already have and what can be improved. No commitment on your part.

We work in Ukrainian, English and Russian.

Universe Consulting Group2 Zymova St., Kyiv 04078, Ukraine
info@universe.com.ua

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Briefly: what your company does in Ukraine and what needs to be resolved