Frequently Asked Questions: #accountingpolicies

Okusi Associates can provide valuable assistance in harmonizing accounting policies following an acquisition in several ways:

• Review of Existing Policies: Conduct a thorough review of the accounting policies of both the acquiring company and the acquired entity to identify differences and areas requiring harmonization.

• Gap Analysis: Perform a detailed gap analysis to highlight discrepancies between the two sets of accounting policies and practices.

• Policy Development: Assist in developing new, unified accounting policies that comply with Indonesian Accounting Standards (PSAK) and align with the parent company’s global standards if applicable.

• Implementation Plan: Create a comprehensive implementation plan for rolling out the harmonized accounting policies across the merged entity.

• Staff Training: Provide training sessions for accounting and finance staff to ensure proper understanding and application of the new harmonized policies.

• System Integration: Advise on necessary changes to accounting systems and processes to support the harmonized policies.

• Compliance Assurance: Ensure that the harmonized policies meet all relevant regulatory requirements and accounting standards in Indonesia.

• Documentation: Assist in documenting the new policies and procedures for future reference and audit purposes.

• Transition Support: Offer ongoing support during the transition period to address any issues or questions that arise.

• Audit Preparation: Help prepare the company for its first post-acquisition audit under the new harmonized policies.

• Reporting Alignment: Ensure that financial reporting processes are aligned with the new policies to provide consistent and accurate information to stakeholders.

By leveraging Okusi Associates’ expertise in Indonesian accounting standards and practices, companies can ensure a smooth transition to harmonized accounting policies, maintaining compliance and improving financial reporting consistency across the newly merged entity.

#accountingPolicies   #financialReporting   #PSAK   #compliancecheck   #corporateGovernance  

Okusi Associates can assist with harmonizing accounting policies following an acquisition in several ways:

1. Policy review and analysis: Their team of experts, led by a Certified Public Accountant, can thoroughly review the existing accounting policies of both the acquiring company and the acquired company to identify differences and areas that need harmonization.

2. Tailored solutions: They provide customized solutions to address the specific challenges of harmonizing accounting policies post-acquisition, taking into account the unique circumstances of each company involved.

3. IFRS and GAAP expertise: With their knowledge of both International Financial Reporting Standards (IFRS) and Indonesian Generally Accepted Accounting Principles (GAAP), they can ensure the harmonized policies comply with relevant standards.

4. Technical accounting support: For complex technical accounting issues that arise during the harmonization process, Okusi Associates offers specialized support to resolve these challenges.

5. Staff training: They provide customized in-house training courses to help your finance team understand and implement the newly harmonized accounting policies.

6. Ongoing guidance: As you work through the harmonization process, their team can offer continuous advice and support to ensure smooth implementation.

7. Regulatory compliance: They ensure that the harmonized policies meet all regulatory requirements in Indonesia.

8. Efficiency improvements: By streamlining and standardizing accounting processes across the merged entity, they can help increase overall efficiency in financial reporting.

9. Quality assurance: Their services aim to improve the quality of financial reporting following the acquisition.

10. Updates on reporting developments: They keep clients informed about any relevant changes in domestic or international financial reporting standards that may impact the harmonized policies.

By leveraging Okusi Associates’ expertise, companies can more effectively navigate the complexities of accounting policy harmonization post-acquisition, ensuring compliance, accuracy, and efficiency in their financial reporting processes.

#accountingPolicies   #financialReporting   #IFRS   #corporateGovernance   #consultingServices