Transition to Accounting in Accordance with IFRS

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Organizations in more than 100 countries have already transferred to International Financial Reporting Standards (further — IFRS). In addition to the mandatory list of organizations (see here) that must transfer to IFRS accounting in Ukraine, companies can also make their own decisions on the transition to reporting in accordance with International Standards.

BDO in Ukraine is convinced that the transition to IFRS offers significant rewards to an entity and improves its relations with stakeholders. Transparency about the information is the guidelines in IFRS accounting system.

If you have decided to switch to IFRS, but are finding out how to that properly, using an appropriate algorithm, things are best left to the professionals, who have sufficient qualifications in this area or at least order consultation on troubling questions.
 

BDO in Ukraine will provide you with professional support when transferring to IFRS, including:

  • development of accounting policies that meet IFRS requirements

  • identification of differences between existing practice and IFRS practice

  • determination of a tax effect of the transition to IFRS with regard to differences that were identified

  • reporting transformation in accordance with IFRS 1 First-time Adoption of International Financial Reporting Standards

  • preparation of a list of adjustments made when preparing reporting under IFRS 1

  • assistance in program setting and staff training for working in the accounting systems (including SAP, 1С Accounting, BAS Accounting, 1С TEM, 1С PEM)

 

BDO in Ukraine helps companies to successfully carry out the transition to IFRS. Our specialists will help your company in the following issues:

  • efficient methodology for the transition to IFRS
  • technical expertise of the accounting
  • taxation

BDO's pricing policy relating to international services provision is flexible and enables to apply an individual approach to customer service, ensuring the economic benefits of working with us.

 

 

See more detailed information about IFRS services of BDO in Ukraine here.

To find out more information on how BDO can help you during the transition to IFRS, please contact our experts.

 

 

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