IFRS and US-GAAP as well as issues related to commercial law can constitute a complex matter with numerous special areas. If the relevant detailed knowledge is not immediately available or if there is a need to discuss views, our accounting specialists would be glad to help on an ad-hoc and uncomplicated basis. Please simply use the appropriate contact form, and we will contact you immediately.
Support in the Implementation of Accounting Standards
We will also provide you with support on more complex issues, such as the implementation of new accounting standards. Our consulting approach has already proven itself many times over. Our clients include DAX-30, MDAX, SDAX and TecDAX companies as well as family-run companies.
Typical Challenges in the Implementation of Accounting Standards
- Dealing with significant changes, whether they involve the impact on the financial statements themselves, the KPIs or the need to implement processes and software solutions
- The lack of transparency in regard to the information necessary for implementation. For example, regarding the completeness of leasing contracts (IFRS 16) or the different types of contracts for customer contracts (IFRS 15).
- Early identification of the effects on internal and external target group communication
- Considerable effort for implementation, such as with IFRS 15 and IFRS 16 in the context of contract analysis, the clarification of technical issues, changes to the customizing of ERP systems or the introduction of additional tools.
- The limited capacities in finance and accounting with the problem of carrying out extensive projects in addition to handling ongoing business and already having scarce resources.
- Continuous uncertainty for preparers and auditors until unresolved issues have been resolved or an industry opinion has formed
We will help you handle these challenges with our structured and proven consulting approach.
Our services include, for example, in-house training courses and workshops for creating awareness, disseminating the fundamentals of our know-how and helping with the roll-out during the course of the project. The impact analysis with a short-term financial review and quantification of the effects on important metrics gives you early clarity about the changes in the new regulations. Furthermore, we create memoranda for you and are glad to discuss them with your statutory auditor.
Should you need assistance with the implementation of a software solution or adaptation through customization, we will also support you here.
Our range of services extends from the complete assumption of a project with project management – i.e. an all-inclusive, no-worry package – through coaching to the selective assumption of certain activities. We can adapt our consulting approach so that your employees are integrated in the best possible way with the deployment desired and possible.
In our sustainability planning, we place particular emphasis on ensuring that your employees have the necessary knowledge after completion of the project to be able to carry out the controlling process independently.
Please contact us if you have any questions.