International Accounting Standards

The employees of our company have the necessary continually-developed professional education and long-term experience in the field of application of the International Financial Reporting Standards (IFRS/IAS), possibly US GAAP. On these grounds, Nexia AP a.s. is able to prepare for you a comprehensive implementation of the International Financial Reporting Standards (IFRS/IAS), or US GAAP.

This process includes, without limitation to:

• Drawing up of a Memorandum specifying the basic modifications and options of the accounting methods carried out
• Determination of Fair Value of assets and liabilities entering into the Financial Statements drawn up according to IFRS/IAS
• Drawing up of the accounting statements according to the rules and principles of the IFRS/IAS, including the Notes to the Financial Statements
• Drawing up of a conversion bridge for determination of balance and result values from the accounting statements drawn up according to the Czech Accounting Standards (ČÚS) to the accounting statements according to the rules and principles of the IFRS/IAS
• Drawing up of a system modification making it also possible to reflect in the accounting conducted according to the ČÚS the values resulting from the rules and principles of the IFRS/IAS

Beyond the framework of the comprehensive implementation of the International Financial Reporting Standards (IFRS/IAS) or US GAAP, Nexia AP a.s. ensures:

• Audit of the Financial Statements drawn up according to the rules and principles of the IFRS/IAS or US GAAP
• Methodological activities and consultancy during implementation of the IFRS/IAS or US GAAP and during the ordinary drawing up of the accounting statements according to the IFRS/IAS or US GAAP
• Assessment of correctness of the procedures and accounting methods selected by the client during the drawing up of the accounting statements according to the IFRS/IAS or US GAAP