In the last few years, organizations have been reportedly adapting the International Accounting Standards (IAS) like US/UK GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) into their business processes which enables them to compete more effectively and conduct smoother financial transactions across the globe. However, switching over to new international accounting standards does require a significant changes to be made in the existing systems, processes and operations to meet the requirements of the new standards.
PK Chopra offers expert assistance to companies by helping them to improve the quality of their accounting standards towards a more globally acceptable accounting standard with their most flexible solutions that help in improving the speed, response and transparency of business processes.
PK Chopra offers International Accounting standards & GAAP services in the following areas:-
- Transition management: PK Choprahas professional experts who offer advice to our clients with conversions of the existing systems and processes to adapt to the new international accounting standards. These services include converting the financial statements as per the US/UK GAAP standards, providing data dictionaries, accounting support and advice, data modeling systems with efficient reporting and monitoring systems. This helps the companies in avoiding potential risks associated with new system management and transition.
- Quality management:Our professional experts enable the clients to identify the deficiencies existing in the system to ensure that the accounting procedures and reporting process can meet high quality standards, enabling greater transparency and setting high performance standards comparable with the international standards.
- Managing complex transactions:Hedging and Derivatives are the most challenging areas of accounting with respect to US/UK GAAP accounting standards. Our team of expert professionals deal with the complexities involved with financial instruments with their vast experience on hedging and derivatives. We provide end-end solutions for hedge accounting, derivatives accounting by helping companies manage complex accounting transactions.