Con­so­li­da­ted accoun­ting & IFRS

Intro­duc­tion / res­truc­tu­ring of con­so­li­da­ted accoun­ting to IFRS and imple­men­ta­ti­on of report­ing structures

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

In gene­ral, the imple­men­ta­ti­on pro­cess rai­ses a copious num­ber of func­tion­al and tech­ni­cal ques­ti­ons that need to be sol­ved by spe­cia­lists. Imple­men­ting IFRS repres­ents a deep cut after which exis­ting accoun­ting and report­ing struc­tures are fun­da­men­tal­ly changed.

During the who­le imple­men­ta­ti­on pro­cess, we sup­port you in deal­ing with the full scope of tasks that ari­se from the pro­cess. We also assist your team in the fol­low-up peri­od until regu­lar report­ing struc­tures and the com­pi­la­ti­on of con­so­li­da­ted finan­cial state­ments are accomplished.