Accounting Advisory & Treasury Services

Making your financial reporting easier...

 

IFRS and other GAAP conversions

Accounting conversions are complex. Though the key principles might be easy and quick to establish, the devil is in the detail.


 

 

IFRS and Czech GAAP reporting

IFRS are complex and subject to frequent change and new interpretations. Similarly, Czech GAAP often lacks clear guidance and leaves its users with significant uncertainties around the “grey” areas.


Our offering:

  • Provision of consistent, timely and practical IFRS & Czech GAAP accounting guidance
  • Developing accounting policies, charts of accounts and complete accounting manuals for companies
  • Preparation, review and unification of processes and accounting procedures for business processes
  • Assistance in developing accounting models, such as for complex accounting estimates
 

Accounting for revenue recognition

Revenue is a key metric subject to considerable scrutiny by investors, analysts and other stakeholders. Accounting treatment is complex and can be highly judgmental in some areas. Moreover, the current IFRS revenue recognition rules fundamentally change from 2018. All companies will to some extent be impacted. The accounting change will drive major system changes.


Our offering:

  • Full revenue recognition transition project or deep dive on complex areas only
  • Support with the implementation - impact on systems, controls, processes and people
  • Sharing best practice and benchmarking to your peers

Deferred tax related services

Income tax related matters remain a leading cause of material weakness and financial statements re-statements. Often the errors become material with time. Companies often struggle to fully understand the deferred tax accounting complexity.


 

 

Deals and restructuring

Acquisitions, disposals, restructuring represent a core growth strategy for many companies. Companies must understand the impact of strategic investment or restructuring on profit measures and debt covenants. As a result of this assessment companies may decide on amending the contractual clauses, adapting the structural decisions, increasing the valuation capabilities.


 

Derivatives and hedging

The volume, variety, and inherent complexity of derivative contracts have increased over time, in tandem with the rapid evolution of hedging activities. The quantum of the potential errors in this area is likely to be significant, with a potential impact on KPIs, tax consequences and undesired press cover.


Our offering:

  • Advice on accounting and derivative valuation
  • Advice on implementation of hedge accounting
  • Financial risk management advisory – currency, commodity and interest rate risk
  • Cash management advisory
 

Solutions for consolidations

Preparation of the consolidated financial statements is connected to operating under the pressure of time and work with large amounts of unstructured and frequently changing data. The implementation of the relevant procedures and tools becomes essential, in order to ensure constant control over the process.


Our offering:

  • Assistance with preparation of consolidated financial statements
  • Implementation of e-tools to facilitate consolidation process
  • Optimization of the consolidation process
  • Accounting advice on specific transactions

Training

Highly qualified and motivated staff is required for the companies to be able to comply with financial reporting regulations. Training is key to keeping pace with changes and helps increase staff loyalty.


 

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