Corporate

For family owned, listed with the stock exchange, PE / VC Backed corporate. We offer Compliance Outsourcing, Internal Audit, GST transition Advisory,Secretarial Services, Indirect Tax Advisory along with the deep understanding of your business.

SERVICES KNOWLEDGE CONSULTANT

Tax Manager for Corporates

Multinational Company

For companies having or planning to have Liaison office in India, wholly owned subsidiary, Joint Venture, FII trading in Indian markets, AIF. Company incorporation, GST Audit, Consulting, Compliance and Representation

SERVICES KNOWLEDGE CONSULTANT

CA for  MNCs

Startups

For Tech Startup, SAAS, e-commerce, Education, Healthcare, Incubators. Single umbrella for Company / LLP formation, Tax registrations, Online Accounting, Tax Filings, Monthly MIS reporting.

SERVICES KNOWLEDGE CONSULTANT

CA for Startup

Small and Medium Enterprises

For family owned hospitals, law firms, doctors, manufacturers and traders. One Stop Direct and Indirect Tax Filing, Advisory, Representation & Litigation, Statutory, GST Audits.

SERVICES KNOWLEDGE CONSULTANT

CA Services for SME

Expertise With A Potenial To Deliver Maximum Benefits

IFRS IMPLEMENTATION IN KINGDOM OF SAUDI ARABIA (KSA)

To meet with the global standards, Saudi Arabia planned to implement International Accounting & Auditing standard in the country. SOCPA(Saudi Organization for certified public Accountants) which is the key Authority for issuing Accounting & Auditing standards in the KSA, decided to form steering committee & requested it to submit its recommendations with respect to convergence of Saudi standards with International standards. In 2012, steering committee submitted its recommendations & SOCPA initiated the project called " SOCPA project for transition to International Accounting & Auditing standards". As a part of project each IFRSs were tested for possible modification as per economic & cultural environment in KSA. In 2016 final stage of transition project was concluded by SOCPA & it announced the phasewise applicability starting from calendar year 2017 of the IFRS in KSA. Now Saudi Arabia is set to join the 130+ countries across the globe in application of IFRS.


Is It Just An Accounting Change ?

APMH - An Extensive Advisor With Extensive Experience of IFRS

Following few points will explain you why it is not just an accounting change & why IFRS Implementation should be considered as planned event & should be taken into priority tasklist of the company !

Due to change in revenue recognition principles, alignment of sales processes & contract management with Accounting software & Financial reporting needs to be done.

It will have substantial impact on entity currently following LIFO Method & would require system change, staff training. Analysis of impact on key ratios becomes important.

Instruments like Tawarruq, Murabaha, Ijaraha etc needs to be checked for possible impact on financial reporting. There was no standard to cover Hedge Accounting till now. IFRS 9 specifically requires entities to report Hedge Accounting.

Due to component based accounting system under IFRS, generation & maintenance of past & future data will test the flexibility & capability of the system.Revaluation choice can strengthen the financial position (improve ratios).Development of model to calculate restoration costs & its discounting.

Entities need to built in impairment assessment process to ensure that impairment assessments / reviews are performed at each reporting period.

Why APMH ?

Our 3 Step Solution

1 - Diagnose
Review of existing accounting policies as per Saudi Accounting standards & identification of differences when compared to IFRS.

2 - Implementing convergence plan
a) Accounting policy & strategic choices
b) Gap analysis
c) Develop & communicate roadmap of convergence plan to top management & financial reporting team. Presenting impact analysis to stakeholders
d) Gather relevant data, assessment of controls & IT system processes & redesign of new processes
e) Convergence of Last 2 year’s Financial statements to IFRS including transition notes as per IFRS 1 & preparation of IFRS compliant financial statements for year of adoption

3 - Post Convergence Assistance
a) Update Policy, procedures & Systems.
b) IFRS Training program for relevant staff for future.
Our Financial reporting professionals are qualified chartered Accountants with extensive practical experience in financial reporting across multiple jurisdiction & under various accounting framework (US GAAP, IND AS, IFRS).

Our team is currently engaged in successfully delivering IND AS (Indian converged version of IFRS) conversion assignment for listed as well as other publicly accountable entities based in India.
Two of partners are a part of IFRS implementation committee of WIRC of ICAI in India. We have also done US GAAP conversion assignments in past for US based Indian companies.

For the area of IFRS, APMH have tie-up from industry and expert estimation knowledge standpoint with London School of Accounting and Finance (LSAF Global) as our knowledge partners for bringing on table to be in class services.

PROFFESSIONALS

CLIENTS

TEAM

LOCATIONS

OUR TEAM

Wide range of services which suit your needs


CONTACT US

Head Office

D-613/614, Neelkanth Business Park, Opp. Railway Station, Vidyavihar(W), Near Ghatkopar, Mumbai 400 086

Roha Branch

Office no. 3, Nirlon Complex, Behind Hotel Trimurti, Roha-Kolad Road, Roha- Raigad Pin. 402 116.

Talk to Us

Mobile #: +91 9833 777 556
Mobile #: +91 9930 294 287
Saudi Tel #: +96 6547 300 622
What's App #: +91 9833 777 556
Email: info@apmh.in