Many Czech companies are parts of international groups which prepare their financial reports in accordance with the International Financial Reporting Standards (IFRS) or the US GAAP. These systems often place great emphasis on using fair value and testing the return on the assets held.
Teaming up with an external partner is particularly suitable for transactions that result in acquiring a set of assets, a business or an enterprise or revaluing untraded sets of assets. Typical transactions include:
- buying a business and needing to value each item of its assets and liabilities, also referred to as purchase price allocation;
- valuing investments in real estate held to generate improvement or rent;
- carrying out impairment tests. Regulated in IAS 36 – Impairment Tests.
The relevant aspect in buying a business is the initial recognition of the transaction in financial reporting, while in real estate investments and impairment tests it is the financial statements prepared at the end of the fiscal year.
Working with our RSM INTERNATIONAL partners, we are also ready to deliver valuations for the US GAAP. Teaming up with us, you will get the benefits of having a regional company that is well acquainted with your business environment and being assured that our outputs comply with the financial reporting standards applicable to American companies.