Turkey Subsidiary Monthly Finance Pack
Illustrative management reporting package for the headquarters of a foreign-owned Turkish subsidiary.
Reporting period: May 2026 (fictional) · Currency: TRY · Prepared for: Example International Group
Illustrative sample only. All amounts, company details, tax statuses and commentary are invented solely to show reporting format. They are not actual client data, regulatory filings or a tax assurance statement.
01 · Executive dashboard
Executive commentary: Revenue exceeded plan by TRY 600,000. Gross profit improved TRY 250,000, while operating expenses exceeded plan by TRY 30,000, leaving EBITDA TRY 220,000 above budget. The finance team should verify collections from two overdue customer accounts and document intercompany settlement terms.
02 · Management P&L: actual versus budget
| TRY million · month | Actual | Budget | Variance | CFO explanation |
|---|---|---|---|---|
| Revenue | 8.40 | 7.80 | +0.60 | Higher volume from international customers |
| Cost of sales | (5.00) | (4.65) | -0.35 | Higher variable delivery costs |
| Gross profit | 3.40 | 3.15 | +0.25 | 40.5% gross margin |
| Operating expenses | (1.83) | (1.80) | -0.03 | Higher IT and professional fees |
| EBITDA | 1.57 | 1.35 | +0.22 | 18.7% actual / 17.3% budget |
Illustrative management measure; precise treatment of depreciation, interest, tax and IFRS adjustments is defined in the reporting specification.
03 · Cash, working capital and parent-company visibility
Working capital snapshot
| Closing cash | TRY 3,100,000 |
| Trade receivables | TRY 2,700,000 |
| Of which overdue | TRY 450,000 |
| Trade payables | TRY 1,800,000 |
Headquarters action items
- Confirm collection plan for overdue receivables.
- Review any material open intercompany balances.
- Approve month-end journal adjustments and supporting schedules.
- Agree group reporting cut-off and ownership of close tasks.
04 · Turkish statutory-to-group reporting bridge
| Control schedule | Source | Group deliverable | Owner |
|---|---|---|---|
| Statutory trial balance | Local Turkish general ledger | Approved TB with control totals | Local CPA |
| Chart-of-accounts bridge | Account mapping table | Group COA mapping and exception log | Local CPA / Group Finance |
| Revenue and expense accruals | Invoices, contracts, cut-off schedule | Proposed adjustments with evidence | Local CPA / Controller |
| Intercompany balances | Related-party ledger | Reconciliation to group counterparties | Group Finance |
| Currency translation | Group-approved rate methodology | Translated management pack as agreed | Group Finance |
05 · Compliance status and evidence log
| Workstream | Illustrative status | Evidence / follow-up |
|---|---|---|
| VAT returns | Sample: reviewed | Return, tax accrual, VAT control account reconciliation |
| Payroll & SGK | Sample: reviewed | Payroll register, SGK declarations and payroll reconciliation |
| E-Ledger | Sample: reviewed | Receipt/acknowledgement and monthly reconciliation |
| Withholding & intercompany | Sample: action pending | Verify payment characterization and treaty documentation |
Statuses above are sample placeholders, not a confirmation that any particular return was filed or that a deadline was met. Actual calendars vary by period and are verified against applicable Turkish rules.
06 · What a real engagement includes
Recurring output
- Local statutory accounting and filing calendar, if engaged
- Monthly English management reporting pack
- Bank, receivables, payables and intercompany reconciliation
- Written exceptions, ownership and escalation log
- Monthly close meeting or written CFO commentary
Inputs requested from the group
- Accounting software and transaction volume
- Group chart-of-accounts template
- Reporting currency and close deadline
- Headcount, payroll frequency and entities in scope
- Internal control and data-transfer requirements
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