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Companies in India transitioned to Ind AS in a phased manner. Likewise, companies worldwide are moving to IFRS. With Ind AS/IFRS being evolving GAAPs, there are bound to be reporting challenges for companies. Our team of professionals takes the pressure away from in-house finance teams by preparing a set of compliant financial statements:
When is a financial statement preparation service needed?
- When the financial statements have accounting complexities like business combinations, complex financial instruments, etc.
- When companies do not wish to maintain dedicated financial reporting teams for a task that is only annual or quarterly
- When there are key changes in accounting guidance that trigger rehashing of the financial reporting process
- When there are complex group structures where professional assistance is required to meet statutory timelines and to handle the size and volume
- When the finance teams are not yet geared up to deal with speedy changes
What do we deliver and what is our approach?
- We defining key milestones:
- Prepare ready-to-use templates
- Map chart of accounts
- Make financial statement structures (including consolidation workings)
- Key deliverables:
- Structured templates for GAAP adjustments/major accounting computations
- Financial reporting templates