Menu
  • Locations
  • Services
  • Services
  • Experts
  • Hot Topics
  • News & Knowledge
  • career
  • About us
  • Search
  • Press
  • Events & Webinars
  • Contact
  • Language
  • Berlin
  • Cologne
  • Dusseldorf
  • Frankfurt
  • Hamburg
  • Hannover
  • Kolbermoor
  • Leipzig
  • Munich
  • Nuremberg
  • Regensburg
  • Rosenheim
  • Stuttgart
  • Tax
  • Digital
  • Financial Advisory
  • Industries
  • Legal
  • Centers of Excellence
  • Tax
  • Digital
  • Advisory
  • Industries
  • Legal
  • Tax & Digital
  • Advisory
  • News
  • Newsletter overview
  • Newsletter subscription
  • KI Study 2024
  • Values and Vision
  • Our Management Team
  • Our Partners
  • Our History
  • Our locations
  • Corporate Responsibilty
  • Tax Service Overview
  • Digital Tax CMS
  • Corporate Tax
  • Customs
  • Financial Services Tax
  • GreenTax & Energy
  • HR Taxes
  • Indirect Tax / VAT
  • International Tax & Permanent Establishments (ITP)
  • International Tax Desks
  • Mergers & Acquisitions Tax
  • Private Clients
  • Tax Controversy / Tax Disputes
  • Transfer Pricing
  • Digital Trends
  • Digital Partnering
  • Digital tools and solutions
  • End-to-end processes
  • AI in tax
  • SAP S/4HANA
  • International Corporate Income Tax rates (CIT rates)
  • Case Studies
  • Reporting & Regulatory
  • Digital Finance
  • Deal Advisory
  • Overview of all industries services
  • Banking/ Capital Markets
  • Insurance
  • oneSTART
  • Real Estate
  • SMEs
  • Overview of all legal services
  • Civil & Commercial Law
  • Climate Regulation & Energy Law
  • Corporate Law
  • Data Privacy & IT Law
  • Employment Law
  • Global Expatriate Service
  • Legal Operate
  • Litigation
  • Restructuring & Performance Management
  • Sustainability Services (ESG)
  • AI in tax
  • plAIground
  • Pillar Two
  • Sustainability Services
  • US tax & customs policy
  • E-Invoicing | ViDA
  • Country by Country Reporting (CbCR)
  • ESG Solutions
  • SAP S/4HANA
  • Business Planning
  • Refinancing & Distressed Situations
  • IPO Readiness
  • Advanced Analytics
  • Carve out
  • Partners Munich
  • Partners Berlin
  • Partners Dusseldorf
  • Partners Frankfurt
  • Partners Hamburg
  • Partners Hannover
  • Partners Cologne
  • Partners Kolbermoor
  • Partners Nuremberg
  • Partners Regensburg
  • Partners Rosenheim
  • Partners Stuttgart
  • Overview of all locations
  • Location Berlin
  • Location Cologne
  • Location Dusseldorf
  • Location Frankfurt
  • Location Hamburg
  • Location Hannover
  • Location Kolbermoor
  • Location Leipzig
  • Location Nuremberg
  • Location Regensburg
  • Location Rosenheim
  • Location Stuttgart
  • Environment
  • Society Engagement
  • Diversity
  • Kulturelles Engagement
  • HR Taxes Overview
  • Integrated Legal and Tax Advice
  • International Payroll and Shadow Payroll
  • International Assignments/ Global Mobility
  • International Employee Assignments & Project Business
  • Wage Tax
  • National payroll and travel expense accounting
  • Social Security Law & Labour Law
  • Work from Anywhere
  • HR Consulting
  • DAC 7
  • Compliance Manager
  • Comply (by Taxback International)
  • plAIground
  • VAT Health Check
  • CbCR Risk Analyser
  • WTS CbCR-2-XML
  • TPmanager
  • WTS CbCRmanager
  • Tax CMS
  • Cesop
  • GewSTmanager
  • Digital Process Automation
  • end-to-end income tax process
  • end-to-end VAT processes
  • end-to-end customs
  • end-to-end transfer pricing
  • property tax services
  • Energy management processes and systems
  • GRI 207: Tax 2019
  • digital tax CMS
  • Case Study Hartmann Gruppe
  • Case Study WTS TPcompiler
  • Case Study Calculation of transfer prices
  • Case Study CbCR Table I
  • Accounting & Reporting
  • Capital Markets
  • ESG Solutions
  • Carve out / PMI
  • Governance, Risk & Compliance
  • Business Partnering
  • Financial Services
  • Treasury
  • Concepts & Systems
  • SAP S/4HANA transformation
  • Optimization
  • Advanced Analytics
  • Performance
  • Program Management
  • Finance Transformation
  • Artificial Intelligence (AI)
  • Technology partner
  • M&A Strategy
  • Due Diligence
  • Fact Book
  • Valuation
  • Restructuring
  • Debt Advisory
  • Modeling Solutions
  • NOW@WTS
  • Press
  • Events & Webinars
  • Contact
English
German
  • English
  • German
WTS worldwide
  • WTS Global
  • Albania
  • Algeria
  • Angola
  • Argentina
  • Armenia
  • Australia
  • Austria
  • Bangladesh
  • Belgium
  • Benin
  • Bolivia
  • Bosnia & Herzegovina
  • Botswana
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Central African Republic
  • Chad
  • Chile
  • China
  • Colombia
  • Congo Brazzaville
  • Costa Rica
  • Croatia
  • Cyprus
  • Czech Republic
  • Democratic Republic of Congo
  • Denmark
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Estonia
  • Eswatini
  • Ethiopia
  • Finland
  • France
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Guatemala
  • Guinea
  • Guinea-Bissau
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran
  • Iraq
  • Ireland
  • Israel
  • Italy
  • Ivory Coast
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Kyrgyzstan
  • Laos
  • Latvia
  • Liberia
  • Libya
  • Lithuania
  • Luxembourg
  • Macao
  • Madagascar
  • Malawi
  • Malaysia
  • Mali
  • Malta
  • Mauritania
  • Mauritius
  • Mexico
  • Moldova
  • Mongolia
  • Montenegro
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nepal
  • Netherlands
  • New Zealand
  • Niger
  • Nigeria
  • North Macedonia
  • Norway
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Romania
  • Rwanda
  • São Tomé and Príncipe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Sierra Leone
  • Singapore
  • Slovakia
  • Slovenia
  • Somalia
  • South Africa
  • South Sudan
  • Spain
  • Sri Lanka
  • Sudan
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Togo
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay
  • USA
  • Uzbekistan
  • Venezuela
  • Vietnam
  • Zambia
  • Zimbabwe
  • Services Clothing
    • Tax
      • Tax Service Overview
      • Digital Tax CMS
      • Corporate Tax
      • Customs
      • Financial Services Tax
      • GreenTax & Energy
      • HR Taxes
        • HR Taxes Overview
        • Integrated Legal and Tax Advice
        • International Payroll and Shadow Payroll
        • International Assignments/ Global Mobility
        • International Employee Assignments & Project Business
        • Wage Tax
        • National payroll and travel expense accounting
        • Social Security Law & Labour Law
        • Work from Anywhere
        • HR Consulting
      • Indirect Tax / VAT
        • DAC 7
      • International Tax & Permanent Establishments (ITP)
      • International Tax Desks
      • Mergers & Acquisitions Tax
      • Private Clients
      • Tax Controversy / Tax Disputes
      • Transfer Pricing
    • Digital
      • Digital Trends
      • Digital Partnering
      • Digital tools and solutions
        • Compliance Manager
        • Comply (by Taxback International)
        • plAIground
        • VAT Health Check
        • CbCR Risk Analyser
        • WTS CbCR-2-XML
        • TPmanager
        • WTS CbCRmanager
        • Tax CMS
        • Cesop
        • GewSTmanager
        • Digital Process Automation
      • End-to-end processes
        • end-to-end income tax process
        • end-to-end VAT processes
        • end-to-end customs
        • end-to-end transfer pricing
        • property tax services
        • Energy management processes and systems
        • GRI 207: Tax 2019
        • digital tax CMS
      • AI in tax
      • SAP S/4HANA
      • International Corporate Income Tax rates (CIT rates)
      • Case Studies
        • Case Study Hartmann Gruppe
        • Case Study WTS TPcompiler
        • Case Study Calculation of transfer prices
        • Case Study CbCR Table I
    • Financial Advisory
      • Reporting & Regulatory
        • Accounting & Reporting
        • Capital Markets
        • ESG Solutions
        • Carve out / PMI
        • Governance, Risk & Compliance
        • Business Partnering
        • Financial Services
        • Treasury
      • Digital Finance
        • Concepts & Systems
        • SAP S/4HANA transformation
        • Optimization
        • Advanced Analytics
        • Performance
        • Program Management
        • Finance Transformation
        • Artificial Intelligence (AI)
        • Technology partner
      • Deal Advisory
        • M&A Strategy
        • Due Diligence
        • Fact Book
        • Valuation
        • Restructuring
        • Debt Advisory
        • Modeling Solutions
    • Industries
      • Overview of all industries services
      • Banking/ Capital Markets
      • Insurance
      • oneSTART
      • Real Estate
      • SMEs
    • Legal
      • Overview of all legal services
      • Civil & Commercial Law
      • Climate Regulation & Energy Law
      • Corporate Law
      • Data Privacy & IT Law
      • Employment Law
      • Global Expatriate Service
      • Legal Operate
      • Litigation
    • Centers of Excellence
      • Restructuring & Performance Management
      • Sustainability Services (ESG)
    Services

    Learn more about our comprehensive services in the area of tax as well as relevant legal advice and financial advisory services.

    ESG

    Our sustainability services at a glance

  • Services Clothing
    • Tax
    • Digital
    • Advisory
    • Industries
    • Legal
  • Experts
  • Hot Topics Clothing
    • Tax & Digital
      • AI in tax
      • plAIground
      • Pillar Two
      • Sustainability Services
      • US tax & customs policy
      • E-Invoicing | ViDA
      • Country by Country Reporting (CbCR)
    • Advisory
      • ESG Solutions
      • SAP S/4HANA
      • Business Planning
      • Refinancing & Distressed Situations
      • IPO Readiness
      • Advanced Analytics
      • Carve out
    Hot Topics

    Overview of current tax, digital & advisory hot topics

    Ready for the game?
  • News & Knowledge Clothing
    • News
    • Newsletter overview
    • Newsletter subscription
    • KI Study 2024
    News & Knowledge

    Here you will find the latest news and specials on all aspects of taxation, digitization and financial & deal advisory.

  • career
  • About us Clothing
    • Values and Vision
    • Our Management Team
    • Our Partners
      • Partners Munich
      • Partners Berlin
      • Partners Dusseldorf
      • Partners Frankfurt
      • Partners Hamburg
      • Partners Hannover
      • Partners Cologne
      • Partners Kolbermoor
      • Partners Nuremberg
      • Partners Regensburg
      • Partners Rosenheim
      • Partners Stuttgart
    • Our History
    • Our locations
      • Overview of all locations
      • Location Berlin
      • Location Cologne
      • Location Dusseldorf
      • Location Frankfurt
      • Location Hamburg
      • Location Hannover
      • Location Kolbermoor
      • Location Leipzig
      • Location Nuremberg
      • Location Regensburg
      • Location Rosenheim
      • Location Stuttgart
    • Corporate Responsibilty
      • Environment
      • Society Engagement
      • Diversity
        • NOW@WTS
      • Kulturelles Engagement
    About us

    WTS at a glance: What makes us special and more information about WTS

    Interested in our art tours in Munich's Werksviertel? 

  • Search
Harmonization of internal and external accounting
Home Services Financial Advisory Digital Finance Optimization Harmonization of internal and external accounting
Contact us!

Harmonization of internal and external accounting

Transparency, clarity and efficiency gains through harmonization of internal & external accounting

The demands on accounting are constantly increasing. Whereas an annual balance sheet as well as a profit and loss account used to be sufficient to determine a company's success, today financial statements are expected on a monthly or quarterly basis. Complex accounting standards, particularly in the area of IFRS, and the simultaneous preparation of multiple accounts (e.g. under commercial law, tax law and IFRS) are a burden on finance departments. Due to additional requirements, such as the preparation of segment reports, cash flows and disclosures of notes, it is not only traditional accounting that is required; controlling is also making an increasingly significant contribution to comprehensive reporting. This shows how important close coordination between external and internal accounting is. Reducing complexity by harmonizing internal and external accounting not only helps to improve transparency and clarity, but also makes sense for reasons of efficiency. Experience shows, that most companies do not take the opportunity to harmonize internal and external accounting. This would lead to a general improvement in efficiency in the finance departments.

Consistent implementation of harmonization in the organization and systems

For a complete alignment of the perspectives, calculatory costs and risks must be eliminated in internal reporting. As external accounting requires only real values to be reported, the results can only be compared if an identical result is reported in both sets of accounts without the recognition of imputed values. To harmonize the views, all items in internal reporting must therefore be adjusted for imputed values (such as calculated contractor's wages, risks, rents, interest and depreciation). At the same time, calculations and control views must be reviewed and, if necessary, realigned so that, for instance, internal cost mark-ups continue to be taken into account (on a flat-rate basis) when determining offers and prices.

IFRS as a unified view between internal & external accounting

For internationally operating companies, it is advisable to prepare their accounts in accordance with standardized group accounting standards. However, standardized accounting in accordance with internationally recognized IFRS not only enables comparability and transparency. Companies that apply IFRS conversion generally find it easier to dispense with imputed valuations, because the IFRS valuations ("true and fair view") are much more in line with the way of thinking in controlling than the traditional commercial law regulations with their imparity principle. Companies that do not wish to adapt their accounting to international standards should also review whether and where imputed valuations (still) make sense.

A closer integration of the finance department is also useful from an organizational perspective. In addition to identical views of the figures, the harmonization of accounting views also enables an even closer exchange and integration within the finance department. Role profiles and responsibilities must be reconsidered and adapted in this context so that they lead to the development of efficient and cross-divisional competencies. Harmonized views must be consistently reflected in the ERP systems and therefore offer additional efficiency potential. Modern ERP systems, such as SAP S/4 HANA, ensure identical value approaches and a uniform database for accounting and controlling. Ledger solutions make it possible to map different accounting standards - such as HGB and IFRS - simultaneously in the systems. The changeover from a company code method with manual delta postings to a ledger-based accounting system with largely automated gross postings reduces the manual posting and reconciliation effort, resulting in additional efficiency and transparency potential.

Our services for clients

Our proven expertise in the field of accounting harmonization is supported by numerous successful customer projects and references. With our comprehensive technical know-how in the areas of accounting, IFRS, (internal) reporting and controlling and our understanding of the interaction between specialist departments and IT, we are at your side for the successful and secure implementation of your projects. With our accompanying change management approach, we are happy to ensure the long-term success of your project and company.

Please do not hesitate to contact us if you are interested or have any questions.

Contact us today

Do you have any questions about our services or WTS? Please let us know. Please fill in our short contact form. We will get in touch with you as soon as possible.

Contact
Services
  • Tax
  • Digital
  • Financial Advisory
  • Industries
  • Legal
  • Centers of Excellence
Hot Topics
  • AI in tax
  • plAIground
  • Pillar Two
  • Sustainability Services
  • E-Invoicing | ViDA
News & Knowledge
  • Newsletter overview
  • Newsletter subscription
Experts
  • About us
  • Values and Vision
  • Our Partners
  • Corporate Responsibilty
© 2025 WTS Imprint Company Information Disclaimer Data Protection Statement GTCs supplier information