IFRS is the common global financial reporting language. Major new standards for financial instruments, revenue recognition and leasing present significant challenges to preparers of financial statements. You’ll find the latest practical application guidance for IFRS reporting from the experts at Vinasc here.
More than 100 countries have adopted International Financial Reporting Standards (IFRS), either as issued by the International Accounting Standards Board or as endorsed by a particular jurisdiction. SEC rule-making suggests that U.S. capital markets will likely have made the transition to IFRS within the next few years.
Vinasc experience with technical know-how in audits of IFRS-based financial statements. We can also help clients convert to or from U.S. GAAP and IFRS.
IFRS conversion services include the following
- Assisting management with selecting IFRS accounting policy alternatives such as voluntary exemptions provided by IFRS 1, First-time Adoption of International Financial Reporting Standards, including the implications of selecting such alternatives
- Identifying client-specific differences between U.S. GAAP and IFRS
- Identifying information requirements for converting to or from U.S. GAAP and IFRS
- Determining adjustments necessary to align financial reporting with the appropriate basis of accounting
- Preparing financial statements and disclosures to meet requirements
- Assisting with accounting systems and internal controls design and implementation
- Assisting with stakeholder communications
- Also, providing targeted training for accounting personnel
Finally, if you are interested in Vinasc’s Auditing Services in Vietnam, please contact us. As a result, we will send a letter of quotation for your consideration.