Consolidated accounting & IFRS
Introduction of a group accounting, building reporting structures and switching to IFRS
Since January 1st 2005, all consolidated financial statements by stock market listed enterprises in the European Union are required to be in accordance with the International Financial Reporting Standards (IFRS). For other enterprises, the IFRS may also be advantageous or necessary, for example if foreign stockholders are involved. In contrast to the German Commercial Code (HGB), the IFRS are not reliant on the caution principle and financial statements according to IFRS may not be considered as a basis for dividend distribution or tax calculation. The main objective of IFRS accounting is the informational value to the investor. Many companies are not familiar with the complex IFRS regulations. The amount of information required for the implementation of IFRS is large and immense personnel and financial capacities are tied during the restructuring process.
Our services include:
- Sensitivity analysis and employee training (workshops)
- Project planning and project management
- Supervision of system conversion
- Optimisation of yield and financial parameters disclosure
- Compilation of in-house accounting principles
- Implementation of reporting structures (reporting packages, consolidation software etc.)
- Support with or provision of annual reports and notes in German and English
Grundsätzlich verursacht die Umstellung der Rechnungslegung auf IFRS eine Vielzahl von fachlichen und systemtechnischen Fragen, die im Umstellungsprozess gelöst werden müssen. Die Umstellung stellt meist einen tiefen Eingriff in bestehende Strukturen des Rechnungswesens und des Reportings dar.
Wir begleiten Sie hinsichtlich des vollständigen Aufgabenspektrums, das sich im Rahmen der Einführung der IFRS und in der Folgezeit von der erstmaligen Anwendung bis hin zum regelmäßigen Reporting und der Erstellung von Konzernabschlüssen nach den IFRS ergibt.