Accounting standards and financial reporting changes implementations 

Deloitte’s approach to implementing significant accounting or financial reporting changes includes the use of digital tools and accelerators to provide solutions across all aspects of implementation, including:

• Impact assessment and development of transition roadmap
• Data gap analysis and data validation support
• Accounting policies development and documentation
• Designing future state finance processes and target finance operating model
• Support with implementing digital solutions to manage the accounting or reporting change
• Support with change management, including communication, training and governance

Key support areas include:

• Insurance accounting changes (IFRS 17) – click here for more information
  
• Lease accounting changes (IFRS 16) – click here for more information
• Revenue accounting changes (IFRS 15) – click here for more information
• Financial instrument accounting changes (IFRS 9) – click here for more information
• Australian Reporting Framework changes (AASB 1060) – click here for more information

Disruptive events and transactions related accounting solutions

Our deep accounting and financial reporting experience can help you successfully navigate the accounting issues arising from disruptive events and market transactions, such as restructuring, funding, divestments or disruptive M&A.  

Our offerings include:

• Complex transaction or event related accounting services, such as COVID-19 related accounting support – click here for more information
• Climate change accounting and financial reporting advisory services
• Machinery of Government Changes accounting and financial management support
• Accounting and reporting solutions across the lifecycle of disruptive events, such as:
  • Accounting implications for structuring steps in M&A, demergers, carve-out or IPO
  • Accounting impact of different transaction scenarios 
  • Accounting due diligence support 
  • Acquisition accounting
  • Consolidation process support
  • Harmonisation of accounting policies

Other finance function advisory services that Deloitte can assist you in relation to disruptive events include:

• Finance function controls and compliance uplift
• Finance function integration; separation; exit or IPO readiness
• Run cost and project budgeting 
• Finance operating model transition support

Infrastructure projects accounting solutions

• Investment in infrastructure provides one of the key opportunities to keep people employed, businesses afloat and to maintain the productive capacity of the economy. As part of Deloitte Infrastructure services (click here for more information), we can assist you to navigate the accounting complexities that arise across the lifecycle of infrastructure or capital projects, including:
• Accounting for procurement structures, such as leases, joint ventures, land swaps, public-private partnership (PPP)
• Accounting support for project funding, financing or re-financing, such as accounting impact of debt, equity or hybrid financing
• Accounting for asset utilisation or recycling, such as sale and leaseback, revenue securitisation, privatisation
• Accounting for service concession arrangements
• Accounting arising from precinct approach to infrastructure
• Accounting for capitalisation of project costs 
• Accounting for project liabilities and contingent liability disclosures

Click here for more information on asset accounting.

On-call accounting services

We understand that accounting and financial reporting questions can arise at any time and require prompt attention. Our on-call accounting services (click here for more information) provide you with access to support with accounting or financial reporting matters when you need it the most. The services are flexible and scalable as applicable to your circumstances, and include:

• Accounting analysis of transactions or accounting matters
• Supporting with drafting of accounting position papers
• Provision of accounting advice on specific transactions or accounting matters
• Facilitating workshops to discuss accounting issues
• Provision of accounting or financial reporting training
• Accounting function resource augmentation
• Supporting with conversion of US GAAP to IFRS

Click here for more information on how an accounting advisor can work with you.  

Accounting calculators

 In supporting you navigate the complexities of accounting compliance, we offer two digital accounting solutions:

• Deloitte Incremental Borrowing Rate Tool:
  Determining discount rates represents a significant challenge in implementing IFRS 16. Our digital solution calculates incremental borrowing rates tailored to your entity and in compliance with IFRS 16, through an easy-to-use and innovative digital application. Click here for more information. 
• Deloitte share-based payments solution:
  Our share-based payments solution can value your employee share plans in accordance with IFRS 2, and provide a dynamic, consolidated view of expected vesting performance through an accessible self-service tool. Click here for more information.

Lease accounting services 

Our lease accounting service is a tailored co-sourced approach that offers lease accounting experts, using leading technology to deliver your ongoing compliance with lease accounting under IFRS 16.  

Through a secure online portal, we collate your lease data and, utilising a leading digital solution,  prepare your monthly or quarterly lease accounting entries and the financial statements disclosures for your leases. As we work with you to manage your ongoing compliance with lease accounting, your finance team will be able to continue focus on their core finance responsibilities. Click here for more information.