IFRS transformation of financial statements for investors, banks and group reporting
We take your Ukrainian GAAP statements and turn them into a full IFRS set: statement of financial position, comprehensive income, cash flows, changes in equity and notes. Your accountant keeps the books as before.
You receive the statements in Ukrainian and English with adjustment worksheets. They can go to the parent, a bank, an investor or a donor, and the group auditor can trace every figure.
- Ukrainian GAAP vs IFRS gap analysis for your company
- IFRS accounting policies
- Reclassifications and conversion adjustments
- Full statements with notes
- Group consolidation package
- Walk-through of adjustments for the group auditor
- iXBRL tagging if filing is required
Four situations where IFRS is unavoidable
The parent asks for an IFRS package for consolidation every year or quarter, in its own format and to its own deadlines.
A foreign bank, fund or buyer reads IFRS. Ukrainian forms without explanation will not do.
Entities under Article 12-1 of the Accounting Law prepare IFRS statements and file them in iXBRL format.
When an international donor or head office asks for statements under international standards alongside the project audit.
Adjustments that come up almost every time
Ukrainian standards are close to IFRS, but measurement and recognition differ in familiar places. This is where we look first.
Leased offices, warehouses and vehicles go on the balance sheet as right-of-use assets and lease liabilities.
Expected credit loss allowance instead of a doubtful debts provision, plus measurement of loans and financial instruments.
Useful lives, components, fair value revaluation and impairment testing.
Every adjustment changes temporary differences, so deferred tax is recalculated last, across the whole set.
Long contracts, bundles of goods and services, customer bonuses and rebates follow the five-step model.
Holiday pay, bonuses, warranty and litigation obligations that are often not accrued under Ukrainian GAAP.
Why the first conversion takes longer
Under IFRS 1 it is the start of the earliest comparative period. For 2026 statements with one comparative year that is 1 January 2025.
We prepare an IFRS balance sheet at the transition date and choose the permitted exemptions, such as deemed cost for PPE.
We show how equity and profit differ between Ukrainian GAAP and IFRS. Later periods are faster because the method and worksheets are in place.
One-off, recurring or IFRS books from the start
A full year set with notes and worksheets. For a deal, a loan or a group’s first request.
Quarterly or annual packages on one method, in the parent’s format and timetable.
When statements are needed monthly, IFRS bookkeeping costs less than converting every time.
From request to statements the group auditor accepts
Proposal and checklist
You describe the company, the period and the purpose. We send a proposal and a document list within one business day.
Adjustments and statements
We review the books, prepare the adjustments and the full set with notes, and settle open points with your accountant.
Delivery and support
We deliver in Ukrainian and English, explain every adjustment and answer questions from the investor or the group auditor.
Documents you will need
Ukrainian GAAP statements for the current and prior year, the trial balance and breakdowns of balance sheet lines.
The current accounting policy and the parent’s reporting format requirements, if any.
Lease, loan and borrowing agreements, major customer contracts, the fixed and intangible asset register.
What usually goes with IFRS
Taxonomy tagging and portal filing for public statements.
A guide for accountants: where to start and how to build the worksheets.
The categories of entities for which IFRS is mandatory.
What clients ask most often
What is IFRS transformation of financial statements?
Restating statements prepared under Ukrainian GAAP into IFRS through adjustments: recognition and measurement of assets, provisions, leases, financial instruments, deferred tax and note disclosures. The books themselves stay on Ukrainian rules.
How long does a one-year conversion take?
For a company with orderly books, usually 3 to 5 weeks after we receive the trial balance, breakdowns and contracts. The first year takes longer because of the opening balance and policies; later periods are faster.
How does conversion differ from parallel IFRS bookkeeping?
Conversion is done at the reporting date from finished Ukrainian statements. Parallel bookkeeping runs continuously under both standards. For most companies conversion is simpler; parallel books make sense when statements are needed monthly.
Can you convert the statements and audit them as well?
No. Independence rules do not allow the firm that prepared the statements to audit them. We prepare them so your auditor or the group auditor can accept them, and we walk the auditor through every adjustment.
In what language are the statements prepared?
Ukrainian and English. Where useful we add a reconciliation to the Ukrainian GAAP figures so your accountant can see where each adjustment comes from.
Can several years be converted at once?
Yes. This often happens before a sale or when a group first asks for historical figures. We start from the earliest transition date and move year by year so balances roll forward correctly.
Does a non-profit need IFRS conversion?
Only if the donor or head office asks for statements under international standards. Most donors only need a project audit to their own terms.
Get a proposal
Tell us the period and who the IFRS statements are for. We reply within one business day.