GAAP conversions and implementation support

Our team is here to support you in performing IFRS, UK GAAP and US GAAP conversions.

How we can support you

First time adoption of an accounting framework can be an overwhelming and complex process. Our team is here to support you in making the complex simple and will work with you to ensure our knowledge is imparted to you, ensuring you are comfortable working with your new financial reporting framework.

Some of the ways we can support you:

- Producing an impact assessment. We will identify accounting recognition and measurement differences and set out accounting policy options including areas where there are optional transition exemptions;

- Providing transition support, including full project management. We will assist management in transitioning to the new accounting framework;

- Updating accounting policy manuals. We will work through the existing accounting policy manual with management and update the policies based on the company’s operations and in line with the new accounting framework;

- Producing first time financial statements. We will draft financial statements detailing any transitional and new disclosures required by the new reporting framework; and

- Carrying out procedure and compliance reviews.