IFRS and US GAAP - Accounting advisory
The structure of IFRS and US GAAP literatures and disclosure requirements are distinct from local accounting rules. In order to comply with international and US accounting standards we provide the following advisory services.
We evaluate the recognition and measurement criteria of relevant balance sheet items under IFRS and US GAAP to identify possible differences between IFRS, US GAAP and local Hungarian accounting.
Presentation and disclosure
We recommend reclassifications and accounting on net basis, where necessary, to present accounting information in compliance with IFRS and US GAAP. To assure completeness of complex disclosures, we provide recommendations and detailed checklists.
First time adoption
Companies must comply with rigid technical and disclosure requirements when adapting IFRS and US GAAP first time. We support the complex processes of first time adoption in order to assure compliance with IFRS and US GAAP.
A first time adoption or an acquisition often necessitates the mapping of local Hungarian general ledgers to group IFRS and US GAAP chart of accounts. We have extensive experience in mapping ledger accounts.
We prepare IFRS and US GAAP accounting policies in line with company business models and provide methodological reference to recognition criteria and relevant measurements. We can draft accounting policies in, both, English and Hungarian languages.
We provide a wide range of deferred tax services including advisory, training courses and reporting.
In IFRS and US GAAP environments planning information is expected to align with applied international and US accounting policies by company. To support decision making processes, we are capable to review the quality of financial budgets prepared under IFRS and US GAAP principles.
We support reporting processes with tailored reporting models so that companies deliver IFRS and US GAAP reports at highest quality. The reporting models include automated settings to facilitate speed and coordination of work.