Management consulting and outsourcing for IFRS accounting
We advise medium-sized businesses on all questions regarding the international accounting according to IFRS/IAS and support you in the first introduction of IFRS, in the conversion from the HGB balancing, by outsourcing the IFRS accounting or by a competent attendance in the daily application of the IFRS accounting. With our IFRS consulting services, we focus the creation of competitive advantages by means of transparency and the optimization of the financing options for medium-sized businesses
Our IFRS services for medium-sized businesses are:
Your advantages from applying the international accounting according to IFRS:
Overview of the IFRS in a few words
IFRS, the international accounting standard, has to be applied for the preparation of the consolidated financial statements by capital-market-oriented companies since 2005. The other companies – and this includes the majority of the companies in Germany – fill have to balance according to the HGB. But the German legislator admits these companies the option to apply the IFRS. Thus, not-capital-market-oriented companies can prepare consolidated financial statements according to IAS/IFRS liberatingly and individual financial statements can additionally publish an additional statement according to IAS/IFRS for information purposes independent from the capital-market-orientation. Currently, approx. three million companies in Germany can prepare their annual statement according to the IFRS option liberatingly.
Market advantages through information transparency with IFRS
Especially medium-sized companies face the question “Why should I apply the International Accounting IAS/IFRS, if I am not obliged to do so?” There are manifold advantages. The tasks of the traditional accounting according to HGB are payment rating, information and documentation. In contrast to it, the IFRS focus on the information about the business situation of the company.
More flexible corporate management with IFRS
The accounting according to IFRS enables companies to react to business changes more flexibly since they generally show earlier in the accounting than in the accounting according to HGB. By applying IFRS, companies can be managed more flexibly and they become more transparent since the external reporting is internationally comparable. Hereby, medium-sized companies can be compared more easily with competitors, especially with European competitors. And a greater transparency makes especially corporate transactions more efficient.
Optimal communication at the capital market with IFRS
Applying IFRS is not limited to balancing and valuation methods, but takes effect company-widely. Thus, the internal and external corporate communications have to be optimized to communicate financial ratios to the market.
More favorable financing options with IFRS
Especially when keeping Basel II in mind, the synergy effects of companies increase with the simultaneous apply of IFRS and the preparation for a rating. Company ratings which are based on Basel II demand a greater information transparency of companies regarding their current situation and their future development. By applying IFRS, companies become much more transparent and thus have a hand in ensuring favorable financing options even if the requirements regarding the lending have changed.