The “Balance Sheet” accounting team was founded in 2008, starting its activities in the city of Alaverdi. Initially formed as a small but purposeful professional team, the company recorded its first successes in a very short time. As a result, the founders decided to expand the geography of their activities by establishing an office in Yerevan. This step became one of the important milestones in the company’s development, allowing it to serve a wider business community. The company’s main mission from the beginning has been and remains the provision of high-quality, reliable and modern financial services in the field of tax and accounting.
In the late 2000s, Armenia’s tax and accounting system was undergoing active changes. These processes were creating a serious burden for businesses: reports were submitted exclusively in paper form, long queues formed at tax authorities, and valuable time was spent on administrative processes. Many entrepreneurs were faced with a dilemma: to focus on developing their business or to get involved in endless paperwork. In those years, accounting outsourcing services were not yet widely developed, and the market clearly felt this gap.
Based on this demand, in May 2008, experienced specialists in the field founded the “Balance Sheet” accounting company with the clear goal of freeing businessmen from unnecessary administrative burdens and enabling them to fully focus on the strategic development of their business. Soon, the company began to actively operate both in Alaverdi and Yerevan, forming reliable partnerships with businesses in various sectors.
17 years alongside business
Over time, the era of paper reports has become a thing of the past, giving way to electronic systems and digitalized processes. Balance Sheet was able to quickly adapt to these changes and continue to be a reliable companion for its partners, keeping up with the demands of the times and supporting them on the path to financial stability and success.
The company’s clients, small, medium and large businesses, often do not follow the frequent changes in tax and accounting legislation. Balance Sheet accounting company takes full responsibility for this, ensuring legislative compliance and risk reduction. There are clients in both Alaverdi and Yerevan who have been cooperating with the company since 2008. The same loyalty is also observed within the team. From 2011 to the present, most of the employees have continued to work in the same organization, which indicates a stable team and a healthy corporate culture.
As Sevak Voskanyan, co-founder of Balance Sheet, noted in an interview with ejc.am, today the demand for accounting services in Armenia continues to be maintained. At the same time, there are both highly qualified specialists and insufficiently trained accountants in the market, which often poses a problem for businesses in making the right choice. Especially in the case of large businesses, it is important that the accounting company is recognizable, enjoys trust and is able to ensure long-term cooperation.
From paper to electronic systems
According to Sevak Voskanyan, any automation or electronicization can cause problems at the initial stage. However, in the long term, the transition to electronic systems has incomparably more positive aspects: time savings, absence of queues and acceleration of processes. At the same time, he emphasizes that technical failures are a natural phenomenon, and even global servers and systems sometimes fail.
How to choose an accounting service
Choosing the right accounting service depends on a number of factors. As Sevak Voskanyan notes, in the past, the approach was widespread when one specialist simultaneously performed the functions of an accountant, lawyer, and human resources management specialist. However, over time, this approach is gradually changing, giving way to a specialized and team-based model of work. The cost of the service also depends on the scope of responsibility that the accounting firm assumes. Everything is determined by the requirements of the client, as well as the professionalism and conscientiousness of the service provider. At Balance Sheet, these values are considered primary.
In addition, continuous education of employees and the development of their own knowledge are the number one prerequisite for maintaining a stable position in the market.
Partner environment and business community
“Balance Sheet” is a member of the BSCOSMO international business club and REXUS CLUB. These platforms provide an opportunity to communicate with other business owners and managers, participate in discussions of real business problems, as well as learn from the mistakes and successes of others. According to Sevak Voskanyan, this also contributes to expanding the company’s brand awareness.
In November 2025, the MadeALL Business Trends Summit business event was held, which was organized by the Made Projects group of companies and is of an ongoing nature. For about seven hours, businessmen and business representatives from various sectors gathered on one platform. “Balance Sheet” was the sponsor of the event. More than 30 companies had the opportunity to get acquainted with each other’s activities, establish new business contacts and discuss cooperation opportunities.
“Balance Sheet” with social responsibility
After 2019, roof repair, candlestick renewal and territory maintenance works began at the Sedvu Surb Nshan monastery complex. The Sedvu Surb Nshan Church Restoration Fund was created, which has gradually begun its active activities, aiming to preserve the cultural and spiritual heritage.
Summary
— If you had to choose a profession again…
— I would choose the profession of an accountant. I would recreate the same organization, the Balance Sheet accounting company, and continue to work with the same partners.
— Is artificial intelligence a challenge?…
— Accounting as a profession will not disappear, but as a result of the development of artificial intelligence, the best and most trained specialists will remain in the field.
We express our gratitude to all the companies that trust Balance Sheet, as well as the Economic Journalists’ Club. Taking this opportunity, we congratulate you on the upcoming New Year. May the new year bring peace, health and new achievements. May every home be filled with love and warmth, and the coming year be a year of peace and prosperity for our people. May 2026 be a year of new opportunities, confidence, and prosperity for all of us.