Financial Reporting Advisory Services
Financial Reporting Advisory Services
Financial statements are the ultimate report card of a Company’s fiscal performance. They enable owners and managers to pursue their business objectives, whether they are raising capital, acquisition, divestiture or restructure. Therefore, every business activity, through the Company’s lifecycle, impacts the financial statements and hence needs to be carefully examined and analysed. Finance leaders are under pressure to deliver higher-quality reporting more quickly in an environment of technological change, increased regulatory change and increased scrutiny.
Our professionals focus on supporting leading organizations in navigating this ever-changing accounting and reporting landscape, helping clients to tackle technical accounting and financial reporting issues. We can support you in building an effective and efficient finance function with a range of accounting, reporting and analytics services.
Financial Reporting Advisory Services Includes:
Accounting manuals are a part of the internal control environment and help mitigate the risks of inconsistent accounting practices and knowledge loss. These are helpful for training new joiners and others when there are changes in guidance or roles.
We will use our experience and insights on a wide range of accounting manuals to help you identify, develop, retain and evolve the knowledge and skills required by your organization. We will host dynamic accounting guidance to ensure consistency in accounting practices with technical practice alerts to guide users at each step.
IFRS is a continuously evolving GAAP and so is Ind AS, drawing its dynamism from IFRS. In the recent past, GAAPs have seen significant new changes including implementation of IFRS 9, IFRS 15 and IFRS 16. The major changes due to the implementation of aforementioned standards are complete rehash of financial asset classification guidance, expected credit losses, revenue recognition guidance and changes in accounting of lease obligations.
Our team of professionals tracks development in accounting standards from the exposure draft stages itself and help Companies prepare for these new accounting changes and implement them.
Consolidation as a process has multiple challenges, specifically dealing with different reporting formats and methods used by different group entities.
Our consolidation solutions make sure that your consolidation process is as streamlined as regular financial reporting. We will deliver standard reporting templates for all group companies and professionally prepared consolidated financial statements, with a complete audit trail.
With Ind AS/IFRS being evolving GAAPs, there are bound to be reporting challenges for Companies. The major challenges faced by the Companies are the accounting complexities like business combinations, complex financial instruments etc. along with key changes in accounting guidance that trigger rehashing of the financial reporting process.
Our team of professionals takes the pressure away from in-house finance teams by preparing a set of compliant financial statements.
With global corporate integration enabling exponential growth for Companies, financial reporting in an internationally accepted framework is inevitable. For dynamic businesses, the challenge to catapult into the next phase of growth magnifies with the ever-increasing focus on quality and transparency of financial reporting by various stakeholders.
Our team is experienced in the following GAAP conversions:
- IGAAP to Ind AS
- IGAAP/IFRS to USGAAP
- IFRS/USGAAP to IGAAP/Ind AS
