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IFRS SERVICES

International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (GAAP) are two different accounting frameworks used for financial reporting. IFRS is a set of accounting standards developed by the International Accounting Standards Board (IASB) and is used by companies in many countries around the world. Continental Accountants CPAs play a crucial role in the application of International Financial Reporting Standards (IFRS) in various ways. If you need assistance with understanding or applying these standards, please contact Continental Accountants CPAs who are knowledgeable in both IFRS and U.S. GAAP.

 

Continental Accountants CPAs are well-equipped to provide a range of services related to IFRS, including:

  • IFRS Adoption and Transition: Assist companies in transitioning from their local Generally Accepted Accounting Principles (GAAP) to IFRS. This involves assessing the impact of the transition on financial statements, restating financials, and ensuring compliance with IFRS requirements.

  • IFRS Compliance: Help companies ensure that their financial statements and reporting comply with IFRS. They provide guidance on IFRS principles, rules, and standards, helping clients make the necessary adjustments to adhere to these international accounting standards.

  • Financial Reporting: Help companies prepare and present their financial statements in accordance with IFRS requirements, including the preparation of income statements, balance sheets, cash flow statements, and notes to the financial statements.

  • IFRS Advisory Services: Offer advisory services related to complex IFRS issues, such as accounting for financial instruments, revenue recognition, business combinations, and more. They can assist companies in making informed decisions regarding these matters.

  • IFRS Training and Education: Conduct training and education sessions for finance and accounting teams within organizations to enhance their understanding of IFRS and its application.

  • IFRS Auditing: Conduct audits to ensure that financial statements prepared in accordance with IFRS are fairly presented. They examine financial records, assess internal controls, and issue audit reports.

  • IFRS Interpretation: Assist in interpreting and applying specific IFRS standards, offering guidance on how these standards should be applied to particular transactions or events.

  • IFRS Updates and Changes: Disseminate IFRS changes and updates to clients for their understanding and assist for the implementation of new standards and interpretations as they are issued by the IASB.

  • IFRS Convergence: Assist our clients in converging their accounting standards with IFRS, even if full adoption is not mandatory in their jurisdiction.

  • Due Diligence: Assist our clients in due diligence services, which may include assessing the target company's financial statements to ensure they are in compliance with IFRS.

Contact Us Today to Schedule Your Consultation!

 

Let's collaborate to secure a prosperous financial future for your business. Our expert CPAs are ready to be your trusted partners in success.

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