IFRS Services

IFRS is a continuously evolving GAAP. Our team of professionals tracks developments in accounting standards from the exposure draft stages and prepares for its implementation long before they are applicable. We help companies prepare for these new accounting changes and implement them.

Hot topic - Presentation and Disclosure in Financial Statements - IFRS 18

• Assess the impact on the financial statements and classify income and expenses to the three new categories
• Revisit and potentially redefine management-defined performance measures (MPMs)
• Consider the impact on financial reporting systems and controls
• Prepare the new presentation and disclosures for your annual report
• Communicate the impacts with investors
  
  

All other IFRS standards, ie IFRS 16 leases

• Design input templates and process flow documents and technical memos
• Updated presentation in the annual financial statements for correct disclosure
• Ongoing support in the form of accounting checks
• Training customised to your needs

As a result of increased complexity in disclosures and scrutiny from regulators and other stakeholders, companies often struggle to understand the new requirements. Additionally, the need to meet deadlines while juggling frequent changes in accounting standards and routine work increases the risk of errors in the preparation of financial statements.

We can help in the preparation of high-quality IFRS financial statements in an efficient manner and provide a template for sustainable reporting in the future.

• Prepare ready-to-use templates
• Creation of balance sheet structures (including consolidation work) in Excel / financial reporting software
• Automated templates for GAAP adjustments / major accounting computations
• In built controls and checks for typical errors around internal consistency
• Professionally prepared consolidated financial statements with a complete audit trail

We understand the importance of aligning financial reporting with regulatory changes and the need for accurate financial reporting. We assist companies with conversion of financial statements from Swiss GAAP to IFRS.

Diagnostic – Completeness of GAAP differences & Best accounting practices 

• Understanding of business, and current accounting practices using tailored questionnaires.
• We identify:
  • Potential accounting adjustments
  • Need for realigning reporting systems
• Assistance in selection of accounting policies after benchmarking against industry practices, and identifying what would work best for the client

Defining processes – Automated templates & Streamlined processes 

• Prepare templates for data collation, disclosures and quantification of GAAP adjustments
• Mapping company’s chart of accounts to standard IFRS financial statement
• Prepare shell financial statements

Financial reporting – IFRS compliance & Timely reporting 

• Prepare reporting period’s financial statements
• Hand-over working papers and templates
• Training accounting teams on financial reporting process under IFRS including:
  • Using templates
  • Preparing financial statements

Accounting or financial reporting questions can arise at any time and require immediate attention. We provide ‘On-call’ technical accounting advisory which includes making and defending accounting positions through well written accounting whitepapers/opinions, and discussions with auditors to support management positions. 

Our team has in-depth knowledge of complex IFRS accounting issues and has already prepared many IFRS opinions.

Procedurally efficient people with well document knowledge and policies help an organization achieve success. An IFRS accounting manual is a critical part of the finance function of a company, as it ensures that the risk of overreliance on a single individual does not harm the company. An accounting manual is a critical control in the overall finance function, and we believe that an effective accounting manual is one that is as dynamic and robust as the organization itself. 

We support you to develop an accounting manual solution suitable for your organization and can also implement our online accounting manual solution. 

We support you across the various phases on a buy-side transaction:

Pre-closing evaluation

• Technical accounting issues
• Analysis of pre-existing relationships

Day 1 accounting

• Purchase price allocation
• Fair value remeasurements
• Amortization tables / entries

Accompanying support after the transaction

• Purchase price adjustments
• Support with the annual goodwill impairment test
• Support with monthly reporting and the consolidation process

The accounting technique to link the risk management strategy to the P&L is called ‘hedge accounting’, a privilege accounting under IFRS 9. When correctly applied, hedge accounting and valuation techniques can smoothen the P&L and maintain parity between cash flows.

We support you in 

• defining your hedge management strategies and documentation
• hedge effectiveness testing at inception and periodically
• accounting for hedge transactions and financial reporting on a periodical basis
• making standard templates for effectiveness testing, accounting and disclosures, for scalable and recurring reporting