GAAP Conversion & Adoption of New Standards
Seamless transition support for IFRS adoption and implementation of new accounting standards.
Plan Your ConversionWhy GAAP Conversion & Standards Adoption Matters
Transitioning from local GAAP to IFRS or adopting new accounting standards represents a significant undertaking with far-reaching financial, operational, and systems implications. Whether driven by listing requirements, stakeholder demands, or regulatory mandates, successful conversion requires careful planning, technical expertise, and change management.
Our GAAP conversion practice provides end-to-end support for seamless transitions—from impact assessment through conversion execution and post-implementation support—ensuring minimal disruption while achieving compliance with new reporting requirements.
Complete Conversion & Adoption Support
Impact Assessment & Gap Analysis
Comprehensive evaluation of financial statement and operational impacts from transitioning to IFRS or adopting new standards, identifying all areas requiring adjustment.
- Detailed gap analysis against new framework requirements
- Quantification of financial statement impacts
- System and process change requirements identification
- Transition timeline and resource planning
IFRS Conversion & Restatement
Complete conversion of financial statements from local GAAP to IFRS, including opening balance sheet preparation, comparative period restatement, and reconciliation documentation.
- IFRS 1 first-time adoption application
- Opening IFRS balance sheet preparation
- Comparative period restatement
- GAAP to IFRS reconciliation notes
Accounting Policy Development
Development of comprehensive accounting policy manuals aligned with new standards, including policy choices, estimation methodologies, and disclosure frameworks.
- Accounting policy manual preparation
- Policy choice analysis and recommendations
- Disclosure checklist development
- Industry-specific policy guidance
Implementation Roadmap & Project Management
Structured implementation planning with clear timelines, milestones, and accountability frameworks to ensure smooth transition execution.
- Detailed implementation roadmap development
- Workstream definition and resource allocation
- Project governance and steering committee support
- Progress monitoring and issue resolution
Training & Knowledge Transfer
Comprehensive training programs for finance teams on new standards, accounting treatments, and disclosure requirements to build internal capability.
- Tailored training programs for finance teams
- Standard-specific technical workshops
- Accounting policy and process documentation
- Ongoing technical support post-implementation
Benefits of Professional Conversion Support
Smooth Transition
Structured approach minimizes disruption and ensures successful implementation within target timelines.
Technical Accuracy
Expert guidance ensures conversion reflects all requirements and avoids common implementation pitfalls.
Resource Efficiency
Leverage external expertise to supplement internal resources and accelerate implementation.
Capability Building
Training and knowledge transfer equip your team to manage new standards independently post-conversion.
Why Choose Advisiti
Conversion Experience: Proven track record managing IFRS transitions and new standard adoptions for diverse organizations.
Structured Methodology: Well-defined implementation approach that breaks complex conversion into manageable workstreams.
Technical & Practical Balance: We ensure technical compliance while considering operational feasibility and resource constraints.
Dedicated Support: Consistent team support throughout the conversion journey and post-implementation assistance.
Adopt Standards with Confidence
Ensure smooth transitions with minimal disruption through expert implementation support.