Accounting and Reporting Methodology
We help clients with a full range of accounting and reporting tasks, including financial reporting quality improvements.
Our professionals can help you with the following:
Transition to IFRS-based financial reporting
- Analyzing and discussing available accounting policy options and their implications (e.g., providing industry insights and technical input during the policy selection process), and developing an accounting policy under IFRS
- Creating custom learning materials and conducting IFRS training for the client’s personnel and other stakeholders
- Drafting IFRS accounting memos and conclusions
- Analyzing differences between RAS and IFRS
- Developing transformation and consolidation models, including a chart of accounts and information request forms for IFRS reporting purposes
- Developing a book of IFRS reporting forms
- Developing transformation methodology from RAS to IFRS
- Developing IFRS consolidation methodology, covering in particular the reconciliation and elimination of intragroup transactions
- Preparing primary reports under IFRS, including disclosures
- Preparing an opening IFRS balance sheet and comparative financial information (balances, reconciliations, disclosures, etc.)
Review, development and adoption of new accounting policies, including harmonization
- Establishing policies, policy manuals and implementation procedures
- Establishing strong governance and controls over policies and their availability across all key areas
- Harmonizing group-wide policies and procedures, including after business acquisitions
Analysis of accounting and reporting regulations, including new standards (RAS and IFRS)
- Analyzing the potential effect of new or proposed accounting standards on the entity’s financial statements or financial performance
- Analyzing potential differences between current and new accounting and reporting requirements
- Assessing the effect that a new standard may have on current or upcoming initiatives involving systems and technologies
- Documenting functional requirements for the automation of new accounting processes
- Developing/updating accounting policies and other internal guidance
- Developing new disclosures for financial statements
Accounting and reporting advice on specific accounting issues (business combinations, consolidation, etc.)
- Analyzing the potential effect of specific accounting issues on the entity’s financial statements or financial performance
- Developing/updating accounting policies and other guidance
- Drafting accounting memos and conclusions on specific accounting issues
- Preparing disclosures relating to specific accounting issues for incorporation in the client’s financial statements, annual reports, quarterly reports and other public documents
Introduction of management accounting, including costing methodology
- Reconciling detailed cost registers with the general ledger and analyzing deviations between standard and actual costs
- Evaluating new costing systems and models and preparing costing documentation for the client
- Analyzing potential differences between financial and management accounting requirements
- Making recommendations on costing systems/models, reports, chart of accounts, processes, controls, etc.
