IFRS Introduction Services

The basic method of preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is transformation that involves the rearrangement of accounting data prepared under National Accounting Standards, to financial statements that comply with IFRS.

We offer our assistance on any stage of IFRS adaptation/implementation:

  • analysis of the existing system of collecting initial data/information

  • сlarification of the existing provisions of IFRS and its adaptation directly to the operations that form activity of Your company

  • development of efficient/best practice IFRS reporting approach

  • preparation of accounting policies

  • choice of valuation currency and reporting currency

  • calculation of the residues

  • development of IFRS transition model

  • preparation of (if necessary) additional chart of accounts in accordance with IFRS and correspondence table ( mapping ) of Ukrainian chart to the chart of accounts in accordance with IFRS

  • assessment of the corporate structure of the company to determine its subsidiaries and affiliated companies to be included in reporting

  • assessment of specific features of the company’s business area and collection data to make IFRS transformation adjustments

  • regrouping and reclassification of items in financial statements prepared under UAS to IFRS

  • complete transition of financial statements prepared under UAS to IFRS

  • training of in-house accounting staff and coaching support