As organisations in Ireland across multiple industries continue to grow relationships with US organisations there is an increased requirement to become upskilled in accounting principles generally accepted in the United States (“US GAAP”). From our experiences, we have seen that the need to stay ahead of US GAAP reporting requirements can often be difficult, especially for organisations that do not have dedicated in-house US GAAP resources to address the increasing complexity of US GAAP requirements.
Our dedicated financial reporting advisory US GAAP team have significant experience in applying in-depth technical accounting support. As a result, we can support you and your teams to bridge this gap. Our team can assist by providing access to the depth and breadth of Deloitte's technical professionals to assist with addressing the complex US GAAP accounting issues. Our US GAAP services are flexible through our US GAAP “on-call” support that is both adaptable and reactive to meet your needs. Our clients often need support in the following areas:
Assessing the key differences between US GAAP and International Financial Reporting Standards (“IFRS”) or local GAAP e.g. where subsidiaries of US entities are accounted for under a different framework. We can help to support you to stay ahead of transitional adjustments required for financial reporting.
We can help by supporting your team with white paper development to support accounting policy changes, benchmarking of US GAAP financial reporting against peer groups, and opinions on US GAAP accounting positions.
Roadmap series
Periodic collections of our accounting guidance on selected topics.
Our dedicated and experienced team can work with you and your team to tailor a specific plan to meet your needs. Our expert team will work with you to identify key areas of US GAAP differences and upcoming changes so that you stay ahead of transitional adjustments required at reporting for a smoother close process.
Roadmap series
Periodic collections of our accounting guidance on selected topics.
As cross-border business continues to develop and US multinational organisations expand their footprint in Ireland we can help you transition from US GAAP to local GAAP. As foreign direct investments (“FDI”) continues to grow in Ireland US GAAP reporters will find themselves with the need to maintain books in local GAAP for local reporting requirements. Our team can perform detailed contract reviews to provide an analysis of the accounting treatment under US GAAP and produce a report highlighting key differences from legacy GAAP.
As the FASB continue to publish ASUs we can help you and your team stay up to date on US GAAP developments so that you’re best equipped to face accounting challenges that crop up in the day to day of operations.
