Accounting Advisory Services

Access the knowledge and savvy to lead your critical finance and accounting projects

With WSBC, you have immediate access to leading-edge technical expertise. With the business savvy to quickly resolve complex accounting and finance issues, our consulting professionals have deep experience in providing practical solutions for your most pressing accounting needs. 

For each engagement we undertake, WSBC works to establish a strong collaborative relationship — while keeping a continual eye on the solutions that best fit your business.

Accounting for complex transactions

Our team of professionals can rapidly analyze your business and apply sound judgement to assist you in dealing with the most complex accounting issues and transactions. Whether it’s analyzing proposed transactions to model the proposed accounting or assisting in formalizing the final accounting positions, our team has the depth of experience and knowledge to deliver sound advice on the tightest of timelines.

We provide expertise for a wide range of accounting issues including:

• Adoption of new accounting standards
• Accounting for acquisitions and divestitures
• Revenue recognition
• International Financial Reporting Standards (IFRS)
• Pre audit work
• Preparation of accounting guideline and chart of account
• Financial consolidation
• Inflation accounting

External reporting & processes

Our finance and accounting professionals assist clients in building and enhancing their external reporting process. We help clients with financial reporting including:

• Process improvement assistance
• Internal control assessments.
• Assessment of organizational needs for developing a public company financial reporting process.

More than consultants

WSBC’s cross-functional experts are highly collaborative professionals who are dedicated to maximizing the performance of your finance and accounting department. 

We don’t see the finance function merely as a set of transactions. We view it as a strategic company asset and an opportunity to fuel lasting transformation and drive better business outcomes.

Whether you need help with a specific operational finance workflow or comprehensive technical accounting guidance as you take on finance transformation, we can help.

IFRS accounting, Reporting and Conversion Services

Expert support for International Financial Reporting Standards (IFRS) and related matters

The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board for the preparation of public company financial statements. With well over 100 countries using them, these standards are quickly becoming the global accounting language.

IFRS enables cross-border investment by lowering the cost of capital and reducing barriers

IFRS presents a common financial language that encourages and enables cross-border investment by lowering the cost of capital and reducing barriers. Using IFRS can help increase the quality, comparability and transparency of your financial information. Applying them correctly will increase your company’s credibility and improve access to credit and investment opportunities.

These standards are very detailed and technical and can seem hard to navigate to the untrained eye. WSBC’s IFRS experts are very well-versed in their intricacies, translating them into language that you can understand and apply to your financial statements.

Major new standards for financial instruments, revenue recognition and leasing present significant challenges to preparers of financial statements. You will find the latest practical application guidance from the experts at WSBC. We can help you navigate the complexity of the standards so you can focus your time and effort on running your business.

Accounting acumen and expert advice combined with a hands-on approach

The impact of IFRS stretches beyond accounting and reporting to the key business decisions you make. Our financial acumen and advice reflect that reality, providing a mixture of technical information and expert insights.

Our IFRS accounting and conversion offerings include:

IFRS Conversions.

• Gap analysis diagnostic (diagnostic).
• Quantification of difference identified with diagnostic.
• IFRS to current GAAP bridge.
• Financial reporting.
• Conversions from IFRS to U.S. GAAP, UK GAAP.
• Objective evaluation of project processes, controls and deliverables.
• Project management leadership and support.

Technical accounting advice and support tools relating to:

• Evaluation of significant differences between current GAAP and IFRS.
• Determine what financial and non-financial disclosures are required.
• Biological assets.
• Employee benefits and share compensation programs.
• Financial instruments and hedging.
• Lease accounting.
• Purchase price allocation related to business combinations.
• Valuation and impairment testing.
• Advice on communicating with key stakeholders.
• Advice on adapting processes, systems, data and manuals.
• Financial statement preparation and audit support.
• Training and ongoing coaching support.

HYPERINFLATION ACCOUNTING (IAS 29 / TAS 29)

Inflation, which is defined as continuous and high-rate increases in the general level of prices, can cause negativities in the economies of countries and in the commercial and financial decisions of businesses.

For these reasons, it is one of the important problems that business administrations operating in the inflationary/hyperinflationary economy should solve.

The science of accounting aims to provide the right information to the service of decision makers and related circles in a complete and timely manner through financial statements.

In an economy where inflation prevails, it is not possible for accounting to serve the aforementioned purposes without the necessary interventions and corrections. Various standards have been established in order to free the financial statements from the effects of inflation.

The foremost among these standards is “IAS 29 – Financial Reporting in Hyperinflationary Economies” / “TAS 29 – Turkish Accounting Standard 29 – Financial Reporting in High Inflationary Economies”.

As WSBC in the field of IAS 29 / TAS 29 Hyperinflation Accounting, we are the solution partner of all leading Global Independent Audit companies and their clients in a fast and secure manner.

Our experience and competencies on the subject provide high customer satisfaction.

Our experience in applying hyperinflation accounting practices to our multinational clients in sectors such as production, industry, construction, energy, electricity, infrastructure, ready-made food, fast-moving consumer goods, electronics; enables us to provide fast and reliable solutions to variety of businesses.

How WSBC can help

Our IFRS technical professionals proactively anticipate accounting requirements, drawing upon our deep subject matter knowledge and broad sector experience resulting from engagements across the globe. We break down very complicated situations into language that any non-accountant can understand.

WSBC helps companies to successfully complete the transition to IFRS and maintain compliance. The deep and relevant expertise of our advisors enables us to provide complex services to assist our clients with all areas of IFRS. We also have a range of specialists to assist your company in effective transition methodology, technical accounting expertise, treasury, tax, interim resources, M&A, valuations and project management.

WSBC’s experts will strive to keep you up to date with the evolving IFRS landscape and promote consistent interpretation and application of those standards.