Technical Accounting
Welcome to our Technical Accounting Services!
Technical accounting involves the application of accounting standards and financial reporting requirements to complex business transactions. It requires a deep understanding of accounting principles, financial reporting standards, and regulatory requirements. We have vast experience with both Danish GAAP and IFRS.
Here is how we can help you.
Complex transactions/business events
Using a consistent problem-solving approach, we can assist with resolving and documenting complex technical issues under both Danish GAAP and IFRS. We prepare accounting memos that thoroughly describe the problem and suggest one or more solutions based on your desired outcome.
Throughout the process, we are in close dialogue with relevant personnel from your finance department, the business and typically your auditor. Examples of typical assistance tasks include business combinations (acquisition method vs Asset deal), revenue recognition, leasing, assessment of control, financial instruments, share-based payment (warrants), etc. In connection with the analysis of share-based payment, we have initiated a collaboration with a partner (former BIG 4), who is specialized in valuation.
Financial Reporting
We can help with the preparation of annual and interim financial statements including completion of relevant checklists. We can manage the entire process to ensure deadlines are met. We develop a detailed plan that provides an overview of data sources, dependencies, potential bottlenecks, and a clear distribution of roles and task descriptions for involved personnel.
Training and Education
Equip your team with the knowledge they need to excel. We offer tailored training and education on accounting standards and financial reporting requirements, (re-)implementation of accounting/finance manuals ensuring all relevant finance professionals are comfortable with keeping your team up to date on the latest developments and best practices in the industry.
Seamless Accounting Standards Compliance
Stay ahead of evolving accounting standards with our expert guidance. We'll ensure your business remains compliant with the latest regulations, including the application of new and revised standards, so you can focus on driving growth and success.
Expert Transaction Support Navigate complex business transactions with confidence. Whether it's mergers and acquisitions, divestitures, or debt and equity offerings, our team provides comprehensive support to ensure proper accounting treatment and disclosure, safeguarding your interests at every turn.
IFRS conversions
In connection with IFRS conversions, we can deliver a package containing:
A comprehensive report describing relevant differences between DK GAAP and IFRS
Model financial statements according to IFRS
Materiality analyses in order to reduce disclosures and accounting policies to be reported
Completion of IFRS checklists (we know they are tedious, but your auditor will surely ask for them)
Technical accounting memos for each material area to be converted (e.g. revenue, leases, business combinations, share-based payment etc.)
Quantification of differences between DK GAAP and IFRS (typically 3 balance sheet dates and two fiscal years)
Assistance with the preparation of the financial statements in collaboration with the finance department,
Development of reporting to management, the board of directors, and owners (e.g., regular updates on project status, expected impact on income statement/relevant KPIs, etc.)
Updating or preparation of financial manuals,
Training for relevant employees
Implementation of IFRS in your accounting system.
