IFRS Reporting Conversion

In corporate transactions, achieving the right accounting treatment often has an important influence on the structure and outcome of that transaction. It is critical that correct accounting treatment is in place at an early stage of a transaction as there will inevitably be an impact on the future balance sheets, income statements and possibly taxation aspects of the transaction.

How BDO can assist you

Financial Reporting Advisory (FRA) is an advisory service on specific accounting matters and for individuals preparing financial statements.

The scope of services available within FRA is wide ranging. We advise on the following accounting areas:
– Irish GAAP
– International Financial Reporting Standards (IFRS)
– The Companies Act 2009.

Within the areas listed above, there are a range of services that we can provide to our clients as follows:

  • accounting opinions on the application of Irish GAAP and IFRS
  • IFRS conversion projects
  • accounts preparation for first time adoption of IFRS
  • drafting disclosures on the adoption of individual accounting standards (eg IFRS 7 or IFRS 8).
  • training client staff on specific accounting matters
  • preparing technical presentations on specific accounting matters.

Financial Reporting Advisory Solutions

The increasing complexity of financial reporting and the rapid pace of change has led to a significant increase in demand for expert accounting advice.

The financial reporting challenge is driven by developments in International Financial Reporting Standards (IFRS), with significant changes across many areas starting from the current year, 2009, and further waves of change expected in the coming years. Key topics include financial instruments, segment reporting, borrowing costs, share-based payment and business combinations. Many of these changes also apply for entities continuing to adopt Irish Generally Accepted Accounting Principles (GAAP) and the standards convergence process is also well under way. Our focus is on providing technical accounting advice to our clients that is practical and commercially astute.

The need for financial reporting advice is often driven by wider concerns, such as mergers and acquisitions, IPOs, significant system changes and new products or business strategies. Working as part of a multi-disciplinary team, we can provide seamless project support, incorporating financial reporting advisory solutions to our clients.

Financial Reporting

In a world of ever evolving accounting standards, our experienced team of professionals can help ensure that your financial reporting obligations are fulfilled. BDO has considerable depth of knowledge across all forms of financial reporting, including Irish/UK GAAP, IFRS and US GAAP. We can draw on the experience of our colleagues globally to help ensure that your financial reports are compliant and truly reflect the business of your company.

If you would like more information on this then give BDO Limerick a call on +353 61 414 455 or email limerick@bdo.ie

Key Contacts

Liam Hession

Tel: +353 61 414 455
Email: lhession@bdo.ie

Diarmuid Hendrick

Tel: +353 61 414 455
Email: dhendrick@bdo.ie

Ken Kilmartin

Tel: +353 61 414 455
Email: kkilmartin@bdo.ie

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BDO is a firm of registered auditors and is registered to carry on audit work in Ireland and the UK by the Institute of Chartered Accountants in Ireland. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number 223876. BDO is also authorised to carry on investment business in the Republic of Ireland by the Institute of Chartered Accountants in Ireland.