Consolidation and methodology for IFRS and Czech accounting standards (CAS)
We can help you with the consolidation of financial statements and complex methodological issues related to International financial reporting standards (IFRS) and Czech accounting standards (CAS). Our team includes the best experts on the market. We can assist you during the period when you are preparing consolidated financial statements and assemble a team to support you during this demanding period.
As part of our business advisory services, we can assist you and provide the following services regarding IFRS or CAS (Czech accounting standards) rules:
- Assistance in deciding whether to prepare financial statements according to IFRS or IFRS for SMEs.
- Design and preparation of the initial application project for IFRS/IFRS for SMEs rules.
- Assistance in preparing financial statements in accordance with IFRS/IFRS for SMEs rules.
- Complete preparation of financial statements (statements and notes) corresponding to IFRS/IFRS for SMEs rules.
- Preparation and processing of accounting methodology for specific transactions and events in the context of IFRS/IFRS for SMEs rules.
- Designs of individual financial statements, reconciliation bridges between these statements and charts of accounts used for statutory requirements according to Czech accounting regulations.
- Assistance in processing data for consolidation according to IFRS/IFRS for SMEs.
- Complete preparation of consolidated financial statements (statements and notes) in accordance with IFRS/IFRS for SMEs rules.
- Preparation of internal guidelines for accounting management in accordance with IFRS/IFRS for SMEs.
- Ensuring the valuation of an acquired business within a business combination for the purposes of financial statements prepared in accordance with IFRS/IFRS for SMEs rules.
- Other activities involving IFRS rules and the link between IFRS and Czech accounting regulations.
What types of projects have our experts encountered in their practice?
- Consolidation audit of the largest energy group in the Czech Republic.
- External preparation of financial statements, including first-time adoption, for companies such as DoDo, Memsource, EUC, Aquapalace, POS Media, and real estate investment SICAVs (individual and consolidated financial statements).
- Preparation of financial statements and reporting in accordance with IFRS for financial institutions.
- Implementation of IFRS 9 at one of the largest pension companies in the Czech Republic.
- Participation in the IFRS 17 (Insurance Contracts) project for one of the largest insurance companies on the Czech market.
- Development of IFRS 9 and IFRS 16 methodology for one of the largest insurance companies on the Czech market
First-time IFRS implementation for a large telecommunications company.