Our Solutions

Corporate India continues to face the challenging task of compliances with various accounting and regulatory framework and pronouncements such as Companies Act, Indian Accounting Standards (Ind AS) converged with International Financial Reporting Standards (IFRS), Guidance Notes, Expert Advisory Opinions (EAC) opinions, Income Computation and Disclosure Standards (ICDS) etc. The increasingly multifaceted businesses and financial transactions contribute to the complexity of financial reporting and compliances. Several entities have set up their back offices or shared service centres for financial accounting and reporting in India. The above developments require organizations to continuously evaluate learning and development needs to enhance the technical skills of their finance professionals to ensure that they are able to comply with the regulatory requirements.

FinPro Consulting provides comprehensive suite of training solutions including ‘Diploma in IFRS (DipIFR) conducted by Association of Chartered Certified Accountants (ACCA) and customized trainings for corporate clients on IFRS/ Ind AS, US GAAP and Indian GAAP. We deliver effective training solutions and programs that enhance your company’s most valuable asset....your employees!

We conduct study circle sessions in corporates covering general updates on Indian regulatory requirements. We also collaborate with educational institutions for delivering training programs in Finance and Accounting domain.

The trainings are delivered by experienced professionals having practical experience in IFRS conversion across various sectors and extensive knowledge of IFRS and Indian GAAP reporting principles.

Why to study with FinPro?

  • Program is conducted by experienced trainers having international exposure in delivering IFRS training
  • Trainers are experienced in practical implementation of IFRS across various sectors in India and abroad
  • Study material and question bank for DipIFR course sourced from a renowned publisher
  • FinPro offers an extremely attractive cost value proposition which brings high-class training

Training programs

FinPro offers customized in-house training programs on IFRS, Indian GAAP and US GAAP at company premises. The topics can be delivered on-site at a time and place which is convenient for corporates and the agenda can be tailored to meet corporate’s specific training needs.

Program details
  • Customized content to suit the corporate’s requirements based on relevance and requirements of the audience
  • Training on specific industry issues or sector specific impacts
  • Flexibility in timing and place
  • Training is covered over a 1 to 5 days period depending on the work schedule of participants

On 16 February 2015, the MCA issued a notification announcing a revised roadmap for implementation of Ind AS converged with IFRS. Ind AS are required to be adopted in a phased manner for the financial year beginning on or after 1 April 2016 with comparatives for the year ending 31 March 2016 for certain class of companies. Considering the MCA notification of applicability of Ind AS in India, many companies are gearing up to the changes required in their existing financial reporting policies and practices. Further, multi-national companies are subject to group reporting requirements to report their financial statements in several GAAPs namely IFRS/ US GAAP/ UK GAAP. Such multiple reporting requirements requires robust knowledge of various GAAPs and leads to resource constraints in finance function. We provide wide range of solutions to suit your requirements including:

  • Impact assessment, highlighting the differences between Indian GAAP and Ind AS/ IFRS/ US GAAP
  • Assistance in implementation of the accounting differences
  • Preparation of full-fledged IFRS/ Ind AS compliant financial statements
  • Training to the staff of the Company and preparing the first set of IFRS/Ind AS financial statements
  • Identify and address the impacts of conversion on wider business and on systems and processes including IT systems
  • Assistance in the preparation of group reporting packs

Recent years have seen major changes in financial reporting structure in India. The companies have to deal with complex accounting issues and new regulatory compliance requirements namely introduction of new standards, guidance notes, Expert Advisory Committee (EAC) opinions, XBRL, Companies Act 2013 and Ind AS. Generally, companies are not geared up to tackle these matters because of time constraints and bandwidth issues in the accounting and finance function. Accounting and financial reporting implications need to be appropriately documented to provide comfort to senior management, audit committees, auditors and regulators. We can assist such companies in dealing with these challenges by providing several accounting and financial reporting solutions including:

  • Preparation of formal technical accounting memo on behalf of management of the company.
  • Technical assistance in complex accounting issues and events such as mergers and acquisitions, consolidation, stock options, deferred tax, forward contract/ derivative accounting, implementation of hedge accounting etc.
  • Assistance in compilation of information required for audit purposes and participation in discussion with auditors/ audit readiness support
  • Preparation of accounting manual
  • Fixed assets recording and register maintenance
  • Financial statement preparation and compilation
  • Accounting retainership arrangements
  • End to end XBRL conversion services
  • CFO support services
    • Optimization of accounting processes to ensure effective and efficient control
    • Execute monthly and annual book closure activities
    • Assistance with regulatory compliances
    • Preparation of budgets and MIS reports
    • Supervising day to day finance operations
    • Liaising with auditors, advisors and regulators

Currently, the companies are frequently entering into various in-bound and cross border transactions namely mergers and acquisitions, de-mergers, financial re-structuring etc. The companies considering to execute such transactions need to understand the potential implications of the transaction on their accounting and finance systems. The companies are required to understand the impact on the accounting practices of acquiree on KPIs such as net worth, PAT, EBITDA, EPS etc. to arrive at the appropriate valuation. The companies are also required to re-align the accounting and reporting policies of the acquiree to meet the consolidation requirements. We assist such companies by providing wide range of solutions including:

Before the deal is executed
  • Identification and analysis of accounting issues
  • Review and advise on unusual accounting policies of the target company
  • Evaluation of impact of international reporting on target company’s financial statements
  • Preparation of opening balance sheet, carve-out, proforma or combined financial statements
After the deal is executed
  • Assistance in acquisition accounting, opening balance sheet and purchase price allocation
  • Integration of accounting and reporting between the acquirer and target company

Accounting is a painstaking, resource-intensive process for businesses of any size. Lacking time or inclination, entrepreneurs and growing businesses often need help with their financial housekeeping despite the availability of easy-to-use accounting software. Outsourcing your company’s bookkeeping to a professional consultant can save you staffing overhead, operating costs, and management time, freeing up essential capital and increasing your capabilities so you can run your business more efficiently. Maintaining books of account in an orderly manner to highlight relevant information on a proactive basis that facilitate timely decision making and for regulatory filing is increasingly becoming challenging. Scarcity of skilled accounting professionals may pose significant challenge and affect quality and timelines of the financial reporting and compliances. We provide integrated book keeping and accounting support solutions covering:

  • Day to day preparation of books of account
  • Assistance in monthly closures and management reports in client specific formats
  • Assistance on key technical issues under relevant accounting frameworks
  • Integrated offering with support on direct tax and indirect tax

Recently, Ministry of Corporate Affairs (MCA) has notified most of the sections of the Companies Act 2013 (Act) and has also issued the final Rules for the notified sections. The Act introduces significant changes impacting several areas mainly governance process, board and directors responsibilities, disclosure of related party transactions, corporate social responsibility, financial reporting, reporting on internal financial controls and its effectiveness, auditors independence and responsibilities. The provisions of this Act could potentially alter the manner of the functioning of the companies. The companies should assess the impact and develop a strategy on compliance and governance. We offer wide range of solutions to assist the companies in complying with the provisions of the Companies Act 2013 including:

  • Identification of detailed differences between Companies Act 1956 and Companies Act 2013
  • Development of a detailed conversion plan for the differences identified highlighting the steps to be taken by the management for adopting the requirements of the Act
  • Based on the conversion plan, assistance to management in implementing the differences
  • Assist the companies in developing internal control framework for evaluation of Board and various committees
  • Preparation of consolidated financial statements as required by Companies Act 2013
  • Related party transactions
    • Identification of Related Parties and Related Party Transactions as defined in Section 2(76) and Section 188 of the Companies Act 2013
    • Assist the company in developing processes to identify related party transactions going forward
    • Assist the company in determining bases for evaluating whether a related party transaction is in the ordinary course of business
    • Advise the company on the documentation to be maintained to determine whether a related party transaction has taken place at arm’s length

In the current environment, it is imperative for the finance function to exhibit its value to the business by providing insightful reports to the senior management which will enable them to take effective decisions. It is necessary to improve delivery of finance function to increase the business valuation by development of new business models and implementation of new reporting tools. We offer customized solutions to the management of the company including:

  • MIS reporting
  • Business and asset valuations
  • Project reports
  • Due diligence
  • ERP implementation support
  • ERP post implementation review

Risk Advisory function is no longer restricted only for mandatory compliance as required by the statute or law. Internal controls, risk management and effective corporate governance are increasingly becoming popular for enhancement of the performance of the company, maintaining high level of transparency, cost reduction and prevention of financial disasters and frauds. Our risk advisory solutions combine in-depth industry experience, a collaborative, risk-based approach and flexible options. We offer client focused and proactive risk advisory solutions including:

  • Internal audit
  • Inventory, COGS and COGM process review
  • Internal controls review
  • Statutory compliances
  • Payroll processing review
  • Receivables and payables processing review

Over the past several years, India has witnessed an increasing trend in companies looking to raise capital in India and abroad. The company has to pool a strong team of advisors to navigate the legal, financial and tax complexities of a listing transaction. The preparatory team for an IPO may take anywhere between 12 to 18 months depending on the market chosen and the readiness of the company. The company needs to prepare prospectus, detailed information about the company and its financial performance, update corporate governance structure and revisit accounting records, if required. We provide wide range of solutions including:

  • Preparation of restated historical financial statements including consolidated financial statements along with the disclosures and notes
  • Preparation of consolidated financial statements in accordance with IFRS/ US GAAP which is permitted by most of the stock exchanges across various countries