Menu
  • Hot Topics
  • Services
  • Technology
  • About us
  • Locations
  • Press
  • Language
  • ESG Solutions
  • SAP S/4HANA
  • Artificial Intelligence (AI)
  • Modeling Solutions
  • Distressed Situations
  • Business Partnering
  • IFRS 18
  • Reporting & Regulatory
  • Digital Finance
  • Deal Advisory
  • Partner
  • Accounting & Reporting
  • Capital Markets
  • ESG Solutions
  • Carve out / PMI
  • Governance, Risk & Compliance
  • Business Partnering
  • Financial Services
  • Treasury
  • Concepts & Systems
  • SAP S/4HANA
  • Optimization
  • Advanced Analytics
  • Performance
  • Program Management
  • Finance Transformation
  • Artificial Intelligence (AI)
  • M&A Strategy
  • Due Diligence
  • Fact Book
  • Valuation
  • Restructuring
  • Debt Advisory
  • Modeling Solutions
  • IDL
  • Lucanet
  • OneStream
  • Oracle
  • CCH Tagetik
  • Accounting Advisory
  • Leasing
  • Financial Statements Support and Audit Assistance
  • Consulting for Statutory Auditor Invitations to Bid
  • Business Reporting
  • Financial Statements in Accordance with the German Commercial Code IFRS
  • ESEF Format for Financial Reporting
  • IPO Readiness
  • IFRS Conversion & Support
  • CSRD and ESRS
  • EU taxonomy
  • Non-financial Declaration for Companies
  • Carve Out Solutions
  • Post Merger Integration
  • Risk Management
  • Internal Controls & Process Assurance
  • Internal Audit
  • Compliance Management
  • IT Governance
  • Data protection & data security
  • Board Advisory
  • ESG solutions
  • IPO Readiness
  • Treasury as a resource
  • Treasury for Special Projects
  • Fully outsourced Treasury
  • Business blueprints
  • Master Data Management
  • Further ERP systems
  • Unser Beratungsansatz
  • Efficient closing
  • Modernization of the finance function
  • Harmonization of internal and external accounting
  • Target Operating Model
  • Process Mining & Optimization
  • Process automation in the financial sector
  • Working Capital Optimization
  • Management Reporting
  • Implementation of Planning Tools
  • Rolling Planning / Forecasting
  • Liquidity Management by using Liquidity Planning
  • Legal and management reporting with SAP S/4HANA
  • Corporate Performance Management
  • Sell Side Advisory
  • Buy Side Advisory
  • Capital Markets Advisory
  • Business management M&A consulting
  • Post Merger Integration
  • Fit for Sale
  • Private Equity Initiative
  • Corporate valuation
  • Purchase Price Allocation
  • Impairment Test
  • Fairness Opinion
  • Interim management
  • About us
  • Locations
  • Press
English
German
  • English
  • German
  • Hot Topics Clothing
    • ESG Solutions
    • SAP S/4HANA
    • Artificial Intelligence (AI)
    • Modeling Solutions
    • Distressed Situations
    • Business Partnering
    • IFRS 18
    CSRD und ESRS
  • Services Clothing
    • Reporting & Regulatory
      • Accounting & Reporting
        • Accounting Advisory
        • Leasing
        • Financial Statements Support and Audit Assistance
        • Consulting for Statutory Auditor Invitations to Bid
        • Business Reporting
        • Financial Statements in Accordance with the German Commercial Code IFRS
        • ESEF Format for Financial Reporting
      • Capital Markets
        • IPO Readiness
        • IFRS Conversion & Support
      • ESG Solutions
        • CSRD and ESRS
        • EU taxonomy
        • Non-financial Declaration for Companies
      • Carve out / PMI
        • Carve Out Solutions
        • Post Merger Integration
      • Governance, Risk & Compliance
        • Risk Management
        • Internal Controls & Process Assurance
        • Internal Audit
        • Compliance Management
        • IT Governance
        • Data protection & data security
        • Board Advisory
        • ESG solutions
        • IPO Readiness
      • Business Partnering
      • Financial Services
      • Treasury
        • Treasury as a resource
        • Treasury for Special Projects
        • Fully outsourced Treasury
    • Digital Finance
      • Concepts & Systems
        • Business blueprints
        • Master Data Management
        • Further ERP systems
      • SAP S/4HANA
        • Unser Beratungsansatz
      • Optimization
        • Efficient closing
        • Modernization of the finance function
        • Harmonization of internal and external accounting
        • Target Operating Model
        • Process Mining & Optimization
        • Process automation in the financial sector
      • Advanced Analytics
      • Performance
        • Working Capital Optimization
        • Management Reporting
        • Implementation of Planning Tools
        • Rolling Planning / Forecasting
        • Liquidity Management by using Liquidity Planning
        • Legal and management reporting with SAP S/4HANA
        • Corporate Performance Management
      • Program Management
      • Finance Transformation
      • Artificial Intelligence (AI)
    • Deal Advisory
      • M&A Strategy
        • Sell Side Advisory
        • Buy Side Advisory
        • Capital Markets Advisory
        • Business management M&A consulting
        • Post Merger Integration
        • Fit for Sale
        • Private Equity Initiative
      • Due Diligence
      • Fact Book
      • Valuation
        • Corporate valuation
        • Purchase Price Allocation
        • Impairment Test
        • Fairness Opinion
      • Restructuring
        • Interim management
      • Debt Advisory
      • Modeling Solutions
    Private Equity Initiative
    SAP S/4HANA Transformation
  • Technology Clothing
    • Partner
      • IDL
      • Lucanet
      • OneStream
      • Oracle
      • CCH Tagetik
    Lucanet
IFRS & US-GAAP Conversion
Home Services Reporting & Regulatory Capital Markets IFRS Conversion & Support
Contact us!
IFRS & US-GAAP CONVERSION
PROCESS
OUR SERVICES
CONTACT PERSONS

IFRS & US-GAAP Conversion

It is usually a major challenge for companies to convert their accounting to International Financial Reporting Standards (IFRS) or US-GAAP. A change in the rules and regulations has an impact on the entire organization. In order to carry out the process successfully and efficiently, the conversion should not be underestimated. In addition to subject-specific topics, it is also important to consider and integrate the necessary framework conditions such as processes, IT and employees accordingly.           

There can be many different reasons for implementing IFRS. Access to the international capital market or sale to a listed company can, for example, justify the need for an IFRS or US-GAAP conversion.

Process of an IFRS or US-GAAP Conversion

IFRS/US-GAAP Assessment

The first step in a conversion to IFRS/US-GAAP is often an assessment. The primary goal here is to develop a consistent and reliable timetable for the conversion and its IT-technical mapping. Identification of expected conversion effects is also part of an IFRS/US GAAP assessment.

Optimization of Group accounting

This is followed by the optimization of the Group accounting and the analysis of existing IT systems, which includes the implementation of new software for the Group accounting. Furthermore, if desired, it is possible to design and roll out the IT-technical implementation of parallel accounting in accordance with IFRS/US-GAAP.

Conversion to IFRS

Building on this, the third step is the actual conversion to IFRS/US GAAP with the design of future accounting on the basis of accounting manuals, reporting packages, training and the system-side conversion. In addition, the reconciliation entries for IFRS/US GAAP and the disclosures in the notes and in the IFRS/US GAAP consolidated financial statements must be prepared.

In addition to providing support in the preparation of the complete IFRS/US GAAP consolidated financial statements, WTS Advisory's range of services also includes monitoring the financial statement preparation process. The focus here is on identifying weaknesses and implementing measures to improve the process.

Our Support for IFRS Conversions

One of WTS Advisory's core competencies is advising capital market-oriented companies on reporting and management-related issues. In this context, WTS Advisory has already carried out numerous IFRS or US-GAAP implementations – in part also within the scope of IPOs and M&A transactions – for companies in the most diverse sectors and of very different sizes. WTS Advisory has many years of experience in IFRS conversions and the implementation of IFRS/US-GAAP accounting. We can compensate for our customers’ lack of internal knowledge and limited capacities with extensive know-how in the area of IFRS/US GAAP. In addition, we offer fast and efficient support thanks to a mentality that focuses on the goals and implementation while pursuing the work pragmatically with a hands-on approach.

The WTS Advisory Conversion Tool or an existing ERP system lets WTS Advisory specialists achieve a system-supported transition. The proven toolset from various IFRS and US-GAAP conversion projects, including our tool solution, is made available to WTS Advisory clients free of charge as part of the conversion.

Your contact for a successful conversion

If you are interested or have any questions, please contact us.

bild faerber-nikolaus
WTS Advisory
Nikolaus Färber
Board WTS Advisory
Sustainibility Auditor (IDW)
Friedenstraße 22
81671 München
+49 (0) 89 28646-2700

Your contact to us

Do you have any questions about our services or WTS Advisory? We look forward to your message or your call!

Contact
Contact Legal notice Data Privacy Statement