All Insights

Residencia Fiscal

F&B companies are using international expansion to chase profits globally.

Companies outsource back-office business processes mainly to boost efficiency and reduce costs. Payroll, HR and accounting processes – the most common to be outsourced – are heavily transactional, and many companies determine that external specialists can execute these far more cost-effectively than they can themselves.

This illustrative set of financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2013.

Profitably growing a Food and Beverage company today is more difficult than ever – yet opportunities have never been greater.

This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting. Changes are colour coded to help Chief Financial Officers identify the changes that will affect them most.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the life sciences industry.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the construction industry.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the manufacturing industry.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the retail industry.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the real estate industry.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the software and cloud services industries.

Outsourcing remains widely utilized by businesses across both sides of the Atlantic. The UK is seeing increasing utilization of outsourcing services across a number of industries, including the IT, HR, tax, and finance and accounting (F&A) functions within companies. And a recent survey shows that this continues to be attractive to companies within the USA, UK and EU.

After more than five years in development the IASB and FASB have at last published their new, converged Standard on revenue recognition – IFRS 15 ‘Revenue from Contracts with Customers’. IFRS 15 replaces IAS 18 and IAS 11 and will affect almost every revenue-generating entity that applies IFRSs. We applaud the two Boards for delivering a converged Standard in this critical area.

Two in five mid-market businesses around the world either currently outsource a back-office process, or plans to in the near future.

This publication summarises the overall objectives and requirements of IAS 36, provides a step-by-step guide to performing an impairment assessment (including recording or reversing an impairment when necessary) and offers insights on best practices to address interpretative and practical application issues.