Transition to accounting under IFRS is a complex and both time and cost consuming process normally affecting the entire organisation of the business. In addition to external accounting, such a transition will primarily concern tax, controlling, finance and IT departments.

In the context of IFRS first-time adoption we provide, inter alia, the following services:

• decision support on transition by showing rewards and risks
• feasibility studies
• project planning and organisation support
• analysis and identification of differences between German GAAP (HGB) and IFRS (and US GAAP respectively) as well as their impact on accounting
• support with the choice of future IFRS methods and with decisions to make use of exemptions
• participation in the adjustment of external and internal reporting processes
• preparation of opinions and clarification of technical issues
• support with the establishment of an IFRS chart of accounts
• preparation and revision of accounting guidelines
• preparation and revision of notes to financial statements
• preparation and revision of reporting packages.