Companies must comply with the ongoing development of accounting standards and the increasing requirements for accounting and reporting. In order to achieve this and to be able to efficiently design ongoing accounting and the preparation of financial statements as well as the reporting processes, employees need sound knowledge of the relevant accounting standards and processes. Various corporate divisions are involved in the preparation of the financial statements and the reporting processes and must be informed in order to ensure effective communication at the interfaces.
Changes and Ongoing Development of Accounting Standards – Challenges in Accounting
New questions constantly arise due to the continuous change and ongoing development of standards. Answering these questions is often challenging due to the complexity of the issues and their impact on various areas of a company. In order to ensure that the current regulations under the German Commercial Code (HGB), IFRS or US-GAAP are up to date and complied with, employees must be continuously trained. In addition, regulators and stakeholders are constantly increasing the requirements for accounting.
Depending on the client’s needs, accounting training can include one-time or regular training courses (e.g. annual update training for the German Commercial Code (HGB) or IFRS). Training courses on specific changes to accounting regulations (e.g. German Accounting Directive Implementation Act (BilRUG), IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers, IFRS 16 Leases) will help you to ensure that all affected business areas are identified and optimally prepared for the changes. In order to achieve the best possible training success, training courses must be individually adapted to the respective target group and the respective company situation. Concrete application notes and posting examples for circumstances in your daily business are therefore an important part of the accounting training. Furthermore, it is also necessary to take account of IT and process changes associated with standards such as IFRS 15 and IFRS 16.
FAS AG as Partner for your Accounting Training Courses
The FAS AG experts will conduct workshops and training courses tailored to your specific needs, in the form of both on-site training and web-based training. We ensure that your employees are optimally trained and professionally developed in accounting and reporting – whether this is on the basis of the German Commercial Code (HGB), IFRS or US-GAAP. This lets you optimally meet the challenges posed by accounting changes. Our team of experts has in-depth, practical, experience-based knowledge and an understanding of all relevant accounting regulations and the entire financial sector and can therefore provide training courses tailored to the target group. If required, we can also draw on WTS experts from the tax and legal fields as well as our global network. This will enable you to correctly apply all relevant accounting regulations and to make ideal use of room for interpretation for the company.
If you are interested or have any questions, please contact us.