Conversion to IFRS – an individual workshop

Management, finance directors and other key personnel making strategic decisions.

Conditions relating to the need to convert to IFRS.
The process of conversion to IFRS.
Implications of IFRS conversion taking into account differences between Czech Accounting Standards and IFRS with respect to areas such as leases, classification of intangible assets, transaction costs of credit financing, provisions, discounting, construction contracts, deferred tax, etc.
Suitable accounting methods for complex accounting issues (re-measurement of assets to fair value, accounting for investment grants, etc.).
IFRS conversion options: outsourcing, own resources, the combination of resources.
A detailed timetable and the structure of the workshop will be agreed based on your needs.

After completing the workshop, you will be able to:

Evaluate the pros and cons of the conversion to IFRS should you have the decisive say in this matter.
Understand the basic differences between IFRS and Czech accounting legislation and their implications for the financial statements of your company.
Determine the pros and cons of the IFRS accounting methods selected for your company.
Evaluate whether the drawbacks of the annual preparation of financial statements under IFRS do not exceed the benefits of conversion to IFRS (this primarily relates to the requirements arising from IFRS 7 and IFRS 8).
Determine the benefits and cost of various IFRS conversion options.
Evaluate the benefits or risks of strategic decisions for your company.
Find a suitable solution for your current situation.