Title:Restructuring of the Power Sector Finance and Accounting
Budget:167,312 EUR
Country:Belarus
Dates: June, 1996 - August, 1997
Partner: None
Funding:EBRD

Corporate Solutions managed a project for the EBRD to assist the Belarus Telecom and Energy Ministries with the introduction of modern financial management practices and accounting systems in preparation for their privatisation.
An important objective of the project was to assist the sector ministries with developing an effective framework for management and cost accounting as a basis for setting appropriate tariffs. A key requirement for achieving this objective was to define appropriate cost centres and drivers in order to establish the cost of providing services to different categories of consumers.
Other objectives included the introduction of changes in accounting and reporting procedures necessary to generate International Financial Reporting Standards (IFRS) compliant financial statements and planning the implementation of computerised accounting and billing systems.