Not only the actual transition to IFRS but also the time following the first publication of financial statements in accordance with IFRS will normally cause increased time and resource requirements at the accounting department.

In addition to the necessity to prepare the annual financial statements in accordance with HGB as before and thus for the time being apply at least two different accounting concepts, capacities and know-how become increasingly tied-up due to the substantially extended reporting requirements for the notes to financial statements under IFRS. Furthermore, the update dynamics of the IFRS require the staff to undergo increased technical training measures.

Owing to their practical experience, our accounting experts produce relief for existing bottlenecks and assist our clients with the preparation of group financial statements, individual financial statements, reporting packages and other sets of accounting figures under IFRS and/or US GAAP.