Global IFRS Desk
Global IFRS Desk at Shasat offers accounting advisory services to its global clients. As you know that IFRSs are a principal based accounting standards, therefore, implementation and application of IFRSs to an individual transaction or situation may require significant judgement, appropriate accounting policy choice and right measurement methodology to achieve the best possible outcome. We assist our clients in implementing the best industry practices and methodologies with a pre implementation strategy to achieve an optimum outcome.
We bring the deep accounting expertise, experience and market intelligence to assist our clients with critical accounting issues such as revenue recognition, goodwill impairment, depreciations and impairment of tangible and intangible assets, employee benefits, retirement benefits, de-recognition, consolidation, impairment of financial instruments, hedging and many other critical areas. The Global IFRS Desk offers the following services:
- IFRS/IPSAS Implementation;
- IFRS 9 Implementation Services;
- IFRS 16 Leases – Technical Implementation Services;
- IFRS 17 Insurance contracts – Implementation Advisory;
- IFRS Technical Advisory;
- On-Call Advisory Services;
- Annual Financial Reporting support;
- Development of Accounting Policy Manual
We maintain highest degree of confidentiality, integrity and collaborative client relationships that go beyond individual transactions and anticipate longer-term needs. We have earned respect by applying our highly specialized technical and practical experience to resolve client’s significant long term business concerns in relation to business transactions and their recognition, measurement, classification and de-recognition. The current accounting and regulatory environment requires businesses to address the concerns of their stakeholders and be prepared to change processes in order to adapt best accounting practices.
IFRS and Accrual accounting are rapidly gaining global acceptance, spurring companies throughout the world to assess the potential implications and benefits of adopting these standards. Our team has the required technical depth and experience to guide you in the right direction.
IFRS/IPSAS conversion Services
IFRS / Public sector accounting conversions require deep technical expertise of not only accounting gaps, interpretations and potential approaches, but also ongoing business implications for performance measurement, compensation, tax, regulation or asset liability mismatches. We help clients to:
- Manage conversion as well as interpretations and potential approaches
- Provide project management support across all work-streams;
- Designing and integrating new processes with the existing systems;
- Organising educational workshop to train staff;
- Assist in preparing the first set of Public Sector / IFRS financial statements.