Accounting and external reporting continue to present a major challenge for companies. This complexity is enhanced by the differences between the Austrian Corporation Code (UGB) and the International Financial Reporting Standards (IFRS), as well as by the continuous modification and further development of the standards. On top of this, there are also deviating regulations for fiscal accounting.
The dynamics and complexity of the international markets also have an impact on accounting. At the same time, stakeholders expect comprehensive and reliable company reporting. This presents new challenges for managers, supervisory boards and auditors.
Our WTS experts are equipped with comprehensive industrial expertise. This means that we can guarantee our clients compliance with the various accounting and valuation rules and support them in overcoming these challenges. At WTS Austria we manage our clients' accounting and provide informative reports and key indicator analyses that are customised to individual wishes and requirements. Our compliance service includes a year-end discussion and action planning.
We advise national and international companies from a variety of sectors. Furthermore, we assume the overall compliance for the income-expenditure calculator and are available for any special accounting questions. On request, we can also analyse the balance sheet and set up early warning indicators. Our WTS Austria accounting experts are also constantly publishing issues on balance sheet tax law issues.
When required, we cooperate with FAS GmbH (www.fas-ag.at) for finance consulting, valuation and transaction issues. "FAS" stands for Financial Advisory Service; the FAS is also located at our premises, Am Modenapark 10, 1030 Vienna. This allows us to cover all areas and services in-house.
Preparation of special balance sheets
In certain business situations, the preparation of special balance sheets is required. In the event of a carve-out, a reorganisation or liquidation of a company, a special corporate law (and tax law) balance sheet must be drawn up. It is also often necessary to set up special closing accounts as part of a company sale. At WTS Austria we help our clients prepare special balance sheets using the appropriate specialist knowledge of the particular legal requirements.
Support with financial statements and audits
The groundwork and preparation of the annual financial statements are often a huge burden for companies. Due to comprehensive regulatory requirements, it can be highly time-consuming and resource-intensive. Our employees have many years of accounting experience and support our clients in preparing and drawing up the annual financial statements and all documents required for an audit. We also help make the preparation process effective. If there is a need to ease accounting bottlenecks, we have employees specialised in interim management who can help out. During the final audit, our WTS experts ensure that all of the auditor's questions are satisfactorily answered and that the audit runs smoothly.
