Transition to IFRS is a lengthy and laborious process. Employees of our firm have many years of experience working with companies on transition to preparing financial statements in accordance with IFRS in Uzbekistan and abroad. For individual categories of companies in Uzbekistan transition to IFRS is a mandatory legislative requirement, but besides this, transformation to IFRS gives management an opportunity to get a real picture of the state of business, improve management accounting, as well as expand access to financial markets. Our staff will help you choose the best approach for a smooth and effortless transition to new standards.
Our IFRS services include the following:
IFRS requirements are not always easy to understand and interpret. Addressing complex practical accounting transactions and assessing their impact on the financial statements requires detailed analysis and application of professional judgment. Our team offers professional assistance in solving complex methodological issues in applying IFRSs. We are prepared to provide practical advice on proper accounting for complex transactions in financial reporting.
We provide services around the development of methodological documents, instructions and accounting policies under IFRS. We also give advice on complex accounting issues and reporting in accordance with IFRS.
We will assist in formation the company’s accounting policy structure and preparation of detailed methodologies (guidance) for various areas of accounting under IFRS. As a result, you will be able to increase efficiency of accounting and reporting processes, get advice on complex accounting issues and improve the quality of financial reporting.
Automation of financial reporting processes is a complex task, especially for holding companies with different accounting systems. Our team helps to solve various problems related to automation of accounting, provides methodological support and interaction with integrators to automate accounting in accordance with IFRS.
A systematic approach and many years of experience allow us to offer solutions for complex accounting issues and improve the efficiency of a company's accounting function.
Automation of the process of preparing financial statements allows companies to solve important problems, such as reducing time for preparing financial statements, saving time of employees of IFRS department, minimizing errors and many others. We will help you to find and introduce various tools to automate the process of preparing financial statements under IFRS, which will best meet your expectations in terms of functionality and convenience and will make the process of preparing financial statements faster and more efficient.
Currently, many entities in Uzbekistan are either in the process of moving to or are expected to move to financing reporting under IFRS within the coming few years. Financial statements of large enterprises are more likely to be subject to audit by an international auditing organisation, for example, by a Big Four audit firm. Transition to IFRS and the first audit of such financial statements often require significant time and attention of entities undergoing such an audit. We assist in optimizing the process of interaction between the company and its auditors. We also help to defend the company’s financial statements in front of external auditors, provided that we were involved in preparation of these financial statements.
Our services include the following:
We conduct corporate trainings and seminars on the application of IFRSs. During such events, we help your team to understand the principles underlying the standards as well as practical implications of transition to IFRS for your company. We are ready to work out a tailored training program for your team, which will include theoretical part for understanding IFRS principles and practical part on transition to IFRS.
We will help you choose the appropriate course and format of training both in open and corporate format. Open format trainings are held according to a pre-announced schedule and are designed for a wide range of participants. Corporate trainings can be conducted based on a tailored program developed considering specifics of a business on a convenient for you date and time.
Our training sessions serve as a platform for acquiring new knowledge and skills, as well as an opportunity to expand your network of professional contacts, exchange experience and discuss topical matters with colleagues. Our trainers are IFRS practitioners, participating in large projects. During trainings, our trainers share with participants their expert opinion, answer additional questions on the topic of the training and support further discussion of participants' questions after training session.
ACCA DipIFR-Rus - Diploma in International Financial Reporting developed for accountants, auditors, financial specialists who want to acquire the skills of preparing financial statements in accordance with IFRS and become specialists accredited by ACCA.
Our program helps to understand the basic concepts and principles underlying international standards, and also provides skills in applying IFRS in practice. We offer a full-time training format, upon completion of which all participants will receive a certificate of completion of the training course at Wisdom Advisory LLC.
After successfully passing the written three-hour exam, participants receive an international diploma (ACCA DipIFR certificate). Upon further registration for the full international ACCA qualification, DipIFR-Rus holders receive an exemption from the Financial Reporting exam.
We offer bookkeeping services, preparation of financial statements and tax returns for our clients.
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