Consolidation under Hungarian Accounting Law and IFRS
(IFRS 10 and IFRS 12)
Our services
Consolidation is a complex area both under Hungarian accounting rules and IFRS, requiring consistency, robust reporting processes and disciplined data flows. Our service is designed to support clients in interpreting consolidation requirements, defining the scope of consolidation, and structuring the necessary reconciliations and consolidation adjustments.
In our view, involvement of an external expert is particularly important for groups preparing their first consolidated financial statements, acquire, dispose subsidiary or that would like to make their current consolidation processes more efficient.
We assist clients in designing and reviewing the consolidation process, defining consistent reporting principles and sufficient reporting requirements. Additionally, structuring consolidation adjustments, eliminations and reconciliations in a well-designed way is also essential in this topic. We also support clients in managing the GAAP differences between the Hungarian Accounting Law and IFRS-based consolidation, and in building a methodology that is sustainable in recurring close processes, properly documented and fully auditable.
