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IFRS-GAAP Conversion

The presence of enterprises throughout the world has grown as a result of globalization. It necessitates the adaptation of a variety of new processes, including financial reporting in a globally accepted accounting system.

The two frameworks frequently used by organizations throughout the world are International Financial Reporting Standards (IFRS) and US GAAP (Generally Accepted Accounting Principles). Furthermore, the emphasis on financial reporting quality and openness has risen. This is when Accounting Ally comes in handy.

We offer GAAP and IFRS conversion services, which entail restating financial statements in accordance with GAAP and IFRS regulations. In transactions such as obtaining equity/debt in a foreign location or in cross-border acquisition deals where the acquirer’s books must be converted, GAAP/IFRS conversion is necessary. We also provide ongoing US GAAP/IFRS consulting services to ensure that our clients are always up to date with their international accounting requirements.

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.

Meet Reporting Requirements

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.

Meet Reporting Requirements

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.

Meet Reporting Requirements
advisory

Key activities GAAP/IFRS Conversion

Training on US GAAP conversion and IFRS conversion methodology to build in-house expertise

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Preparation of converted financial statements

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Preliminary assessment accounting gaps and the impact of conversion

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Preparing GAAP/IFRS adjustment computation templates for clients

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Assistance in implementation of the new accounting standards

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Help in preparation of disclosures required when adopting a new accounting framework

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Why Choose Ally for IFRS Conversion Services?

Audit Services

Reduced Errors

At vteam, we have a team of financial experts who do not take anything for granted. We make every effort to cut discrepancies in financial reporting. With us, you witness best-in-class IFRS conversion services with minimal to no errors. Rely on us and enjoy peace of mind with reduced errors in financial reporting.

Audit Services

Globally Recognized

Our expertise has reached the global stage, representing our excellence in IFRS accounting services. As your partner in IFRS conversion, we offer the best for business. All our experts are competent at delivering IFRS conversion services to stay ahead.

Audit Services

Affordable

Affordability is key to our prominence in the business world. We offer financial reporting and accounting at an affordable rate. Our affordability without compromising quality sets us ahead in managing your business finances.

What people say about Us.

Client

As a small business owner, I feel better knowing that professionals are handling my books so I can spend more time growing my business instead of monitoring nickels. Partnering with Accounting Ally has been a game-changer for our business! Their representative has been instrumental in ensuring our books are error-free and our system is well-organized. We've been with them for 2 years now, and their consistent excellence never fails to impress!

Pooja D’Souza

Finance Controller at Clutterbot INC

Client

We would like to express our sincere appreciation for the exceptional services provided by Accounting Ally over the past couple of years, particularly in taxation representation, advisory and accounting. Their meticulous attention to the maintenance of accounts and year-end finalization has ensured smooth operations and tax compliance for our business. We strongly recommend Accounting Ally to any business in need of dependable and professional Tax and accounting services. Their deep expertise, prompt support, and meticulous attention to detail make them a reliable partner in handling complex tax matters with confidence and ease.

Murtaza Dariwala,

Partner at Mehta Gulf LLC

Client

I am delighted to share my experience with Accounting Ally. Their expertise in company incorporation, financial accounting, and strategic consultation has been invaluable to us. From guiding us seamlessly through the incorporation process to providing meticulous accounting services and insightful financial consultations, their support has been exceptional. Their professionalism, attention to detail, and commitment to our success have made a significant positive impact on our business. I highly recommend their services to any business seeking reliable and knowledgeable financial guidance.

Dhiraj Khandelwal

Founder & CEO at STRATOCAP Consultancy Services LLP

Client

We are extremely satisfied with the services provided by Accounting Ally. Their team conducted a comprehensive review of our Inventory Management System and the Financial Accounts, resolving discrepancies and ensuring accuracy. They also performed an in-depth audit of our Oracle ERP systems, identifying key process improvements and mapping the financial impact of each document processed. Their expertise, attention to detail, and proactive approach have greatly enhanced our financial accuracy and operational efficiency. We highly recommend Accounting Ally for their exceptional service.

Ajay Singam

Director at Avcon Technics

Client

Accounting Ally has been instrumental in managing our domestic and international taxation processes for dividend distribution to shareholders. Their expertise in handling shareholder communications and advising on treaty benefits for foreign shareholders, coupled with their tech-driven approach to tax computation and seamless filing of tax forms with authorities, underscores their commitment to excellence and accuracy. The automated solutions they implemented have significantly streamlined our tax processes, providing us with peace of mind and confidence. We highly recommend Accounting Ally for their professionalism, meticulous attention to detail, and innovative solutions that distinguish their services

Vivek Chaudhary

Company Secretary at HEG Ltd

Our Proficiency in Multiple Accounting Platforms

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Frequently Asked Questions

To outsource accounting services, visit the website and navigate to the accounting services section. To discuss your needs, get in touch with the team via the provided form or phone number. The accounting experts will walk you through the setup procedure and customize their offerings to meet your specific requirements.

We have a highly qualified team of accountants, which includes ACCAs, Indian CAs and Payroll Experts who have experience of over 10+ years. We follow the Four Eyed Review for all the Outsourcing Tasks. We’re led by Dhaval Kodilkar, a Fellow Chartered Accountant with over 12 years of practice experience.

Our turnaround time is two working days from the time we receive the last piece of job information. All our plans include a dedicated Accounts Manager (SPOC) who reports directly to your on-site point of contact providing you with secure encrypted reports on daily, weekly, and monthly basis besides unlimited phone and email support.

  • It may appear like bookkeepers and accountants are the same as they both deal with financial records. Although, they do identical tasks, their duties are actually more complex.

  • A bookkeeping professional keeps financial records, which an accountant then examines to give business owners insights, bookkeeping is an element of the accounting process.

Yes, our teams are experienced with all major cloud-based finance and accounting software and can securely access your business servers, ensuring seamless integration with your existing systems.

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