Financial reporting requirements are constantly evolving, and it is important for companies to ensure that reporting is correct, transparent and compliant with current standards. We provide accounting and regulatory reporting support to companies that need help understanding new requirements, preparing their implementation, and developing financial reporting processes.
Our goal is to help make complex reporting requirements practical and understandable and to support the company in planning and implementing the necessary changes.
Implementation of IFRS 18 for Estonian SMEs
IFRS 18 "Presentation and Disclosure in Financial States" leads to changes in the filing and disclosure of financial statements prepared pursuant to IFRS. The standard primarily affects how companies structure and provide information about their financial performance.
We provide support to small and medium-sized enterprises in Estonia in understanding and preparing for implementation of IFRS 18. We help assess what changes may be relevant to the company and how to adjust existing reporting processes and financial information representation.
Preparation and requirements mapping
In order to implement IFRS 18, it is important to first assess the company's existing financial reporting and identify areas where changes may need to be made. We help to map the requirements, analyse their potential impact and draw up a practical action plan.
This allows the company to prepare for the changes in good time and to reduce situations where new reporting requirements must only be addressed during the preparation of the report.
Structure and presentation of financial statements
The new requirements may affect the classification, aggregation and filing of financial information. We support companies in reviewing the structure of the financial statements as well as designing the necessary changes.
We pay attention to ensuring that the financial information is presented in a consistent, comprehensible manner and meets the reporting requirements applicable to the company.
Practical support in implementation
In addition to explaining the requirements, we help companies move to practical implementation. Where necessary, existing reporting processes, internal guidance and principles for the preparation of financial information can be reviewed.
We help the company prepare for the implementation of IFRS 18 systemically and virtually, based on the existing reporting and actual needs of the organization.
