Group accounting - Accounting advisory
We provide the following advisory services to support group accounting procedures under IFRS, US GAAP and local Hungarian accounting consolidation rules.
Assessment of scope of consolidation
The consolidation techniques depend on the nature of affiliated companies being subsidiary, associate or joint venture. We have substantive knowledge to assess the scope of consolidation as a basis of group reports.
The reconciliation of intercompany turnovers and balances consumes valuable time and resources. We can assure the success of consolidation processes by efficient processing of reconciliation differences.
Consolidation of equity and reserves
We support and recommend techniques on full consolidation procedures including the consolidation of equity and reserves, being one of the critical areas. Such tasks involve the proper allocation of consolidated reserves, valuation of non-controlling interest, and the effect on goodwill.
The proper allocation of goodwill is essential to the quality of group financial statements in which we provide relevant recommendations and solutions.
Group accounting policies
We prepare IFRS, US GAAP and local Hungarian group accounting policies in line with company business models and provide methodological reference to the basis of consolidation. We can draft group accounting policies in, both, English and Hungarian languages.
We support group reporting processes with tailored models so that companies deliver IFRS, US GAAP and Hungarian group reports at highest quality. The reporting models include automated settings to facilitate speed and coordination of consolidation work.