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Expertise

Consultancy on bookkeeping and financial statements

In small entities, even in presence of not very complex analytical accounting and industrial cost accounting systems, a good structuring of the charts of accounts and an efficient management of the accounts processes provide an entrepreneur with access to the minimum information needed to fulfil legal obligations and periodically to provide clear and accurate reports on corporate management to various stakeholders.

On the other hand, large entities, are required, through necessity or choice, to adopt the IAS-IFRS principles and to present profit and loss accounts and balance sheets in terms of fair value. Such standards force the entrepreneur and the management to a cultural change, that reflects a vision and an interpretations of management facts and values of assets of the invested capital that are based on a financial logic.

Regardless of the company size, in extraordinary operations that involve or generate different corporate entities, the current legislation requires the preparation of specific interim accounts and balance-sheets, drawn up according to various principles and criteria according to the specific nature of the operation taking in place. In this area of expertise, by integrating where necessary its specialist professional expertise from various backgrounds, Cortellazzo & Soatto supports the entrepreneur and the management in the following activities:
  • setting up of the chart of accounts and of the bookkeeping procedures;
  • preparing financial statements and consolidated financial statements according to national accounting principles;
  • preparing specific financial statements in case of extraordinary operations (financial statements for merger and splitting , company assignments) or in case of liquidation;
  • preparing interim financial statements and reports;
  • planning and management of the transition to the IAS-IFRS principles;
  • preparing financial statements and consolidated financial statements according to IAS-IFRS principles;
  • conducting impairment tests, setting up and periodical update of its procedures;
  • identifying the cash generating units and setting up the data entries procedures;
  • applying the IAS-IFRS principles on the business combinations.