IFRS Consulting

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When new standards and interpretations are issued, policies and application rules change for companies that already apply International Financial Reporting Standards, like any other accounting rules.

Often internal finance team lacks needed competence and knowledge to prepare financial statements under IFRS. Even highly skilled employees face with certain difficulties of application and interpretation of IFRS standards.

Therefore, the assistance of an IFRS expert on complex issues is the best investment for your business. It will help to solve the issues faster and with minimum financial risks for the company.

 

You can contact BDO Ukraine experts for IFRS consulting and they will:

  • assess new IFRS impact and their interpretations on company's financial statements
  • prepare accounting policies under IFRS
  • assess the impact of new contracts, transactions and changes in existing ones on financial reporting and accounting
  • prepare financial statements and disclosures under IFRS requirements
  • advise better IFRS transition or to Transform IFRS reporting with minimal risks for the company
  • provide an expert opinion on IFRS during audit
  • advise on complex or contradictory issues of accounting and financial reporting

 

Why is it worth to cooperate with BDO in Ukraine?

  • Application of a comprehensive approach
  • Timely monitoring of changes in standards
  • Permanent access to international experience and knowledge
  • High quality services

 

Key Contact

Roman Gruba

Roman Gruba

Head of Accounting Advisory and TS
View bio

Related Publications

  • What is IFRS Accounting Standards Consulting?

Professional support in applying International Financial Reporting Standards, including interpretation of standards, assessment of the impact of changes, development of accounting policies and preparation of financial statements.

  • When is IFRS Accounting Standards Consulting needed?

The consulting is relevant when new standards are introduced, in complex transactions, in cases of uncertainty when interpreting rules, or when preparing financial statements under IFRS Accounting Standards.

  • What does IFRS Accounting Standards Consulting include?

It includes assessment of the impact of new standards, preparation of accounting policies, assessment of the impact of contracts, preparation of financial statements and disclosures, recommendations on transition / transformation, consulting during audits.

  • What complex issues are addressed by consultants?

Controversial or technically complex transactions, accounting estimates, application of new standards, disclosure issues in financial statements.

  • Does consulting cover the preparation of financial statements?

Yes — consultants can prepare or support the preparation of financial statements in compliance with IFRS Accounting Standards.

  • Does IFRS Accounting Standards Consulting assist during audits?

Yes — qualified opinions and support are provided on the application of IFRS Accounting Standards during audit procedures.

  • What is the outcome of consulting?

A clear accounting position, prepared solutions regarding standards, minimisation of reporting risks, and improved IFRS Accounting Standards practices.


IFRS Accounting Standards Consulting — professional consulting on the application and interpretation of IFRS Accounting Standards in financial statements.

IFRS Accounting Standards — International Financial Reporting Standards, a set of principles defining rules for preparing financial statements, developed by the IASB.

Accounting policies under IFRS Accounting Standards — a set of rules and methods applied by a company for recognition, measurement and disclosure of financial information.

Impact of standards — an assessment of how new or amended IFRS Accounting Standards affect an entity’s financial indicators and financial statements.

Disclosures — mandatory notes to financial statements that ensure complete and transparent financial information.

Financial statements under IFRS Accounting Standards — statements of financial position, profit or loss, cash flows and other components prepared in accordance with IFRS Accounting Standards requirements.

IASB (International Accounting Standards Board) — the body that issues and maintains IFRS Accounting Standards.

Interpretation of standards — explanation of IFRS Accounting Standards requirements for specific situations to resolve accounting and reporting issues.