Development of IFRS and US GAAP reporting systems
Our team have significant experience and skills in developing procedures for the implementation of IFRS and US GAAP reporting, and we are able to offer effective solutions for companies creating their own IFRS or US GAAP financial reporting system.
- Enter global capital markets for fundraising
- Provide investors with financial information
- Ensure financial transparency of operating results
- Support decision-making and control processes
- IFRS first-time adoption or transition from US GAAP to IFRS
Corporate goals and objectives
Our services include designing integrated solutions for developing a methodological framework for IFRS and US GAAP reporting, implementing information systems, and providing staff training.
What we do
Our experienced team of consultants use their extensive experience and professional skills to create a procedural framework for IFRS reporting either from scratch or as a development of the company’s existing processes.
- For increased transparency, accuracy and controllability of IFRS and US GAAP reporting processes, we provide recommendations with respect to aligning RAS and IFRS (US GAAP) accounting principles and setting up accounting and reporting functions.
- We possess skills and experience in implementing information systems for IFRS and US GAAP reporting, and provide quality control and methodological support during project implementation. Our specialists have essential experience in implementing SAP- and Oracle-based software solutions, including e-Business Suite, Hyperion, JD Edwards and others.
- We actively involve our clients’ employees in the projects and offer training programmes so that project deliverables are implemented more effectively.
Our experience and approach
Developing an IFRS and US GAAP reporting methodology and the implementation of software solutions will produce the following results:
- Accounting policy in accordance with IFRS or US GAAP
- IFRS or US GAAP chart of accounts and a conversion table for RAS chart of accounts
- Transaction ledger and relevant IFRS or US GAAP accounting principles for each transaction
- IFRS or US GAAP reporting methodology (transformation and consolidation)
- Rules and procedures for the IFRS or US GAAP accounting and reporting process
- Album of standard IFRS or US GAAP reporting forms and form completion rules
- Software implemented to support IFRS or US GAAP reporting processes
- Skills and knowledge for the client’s employees, enabling the client to prepare IFRS or US GAAP financial statements independently
How your business will benefit