As your business, your industry, and the financial reporting requirements you face evolve, there is an ongoing need to ensure that your accounting treatment remains appropriate, and your financial statements remain compliant with applicable standards and regulations.
With our Accounting and Reporting Advisory team, along with our direct access to KPMG’s global and Nordic networks, you have a trusted advisor at your side. Our professionals are committed to combining their expert knowledge and insights to help you find the right accounting solution for your financial reporting. We can support you across a full spectrum of accounting frameworks and standards, transactions and arrangements, and initiatives, including, but not limited to, mergers and acquisitions (M&A), capital market transactions, reporting processes and controls and producing quality accounting documentation.
For broader support in relation to M&A activities, group re-organisations, capital market transactions, IPOs and more, contact our Deal Advisory team.
For broader support in relation to financial reporting process optimisation, contact our CFO Advisory team.
We are also well positioned to support you with European Sustainability Reporting Standard (ESRS) implementation/adoption and assurance. Go to our ESG page to find out more.
What we do
We can help your company with a broad spectrum of accounting and reporting tasks, including compilation services, on-call technical accounting and reporting and workshops.
Compliance with accounting legislation can be challenging and take away focus from your core activities. Moreover, Danish annual reports must adhere to the Danish XBRL taxonomy and be reported digitally.
KPMG have a dedicated team specialising in compilation services, including the preparation and reporting of high-quality Danish annual reports. We assist both Danish-owned businesses and subsidiaries of international groups.
We offer assistance with the compilation of annual reports in accordance with the rules of the Danish Financial Statements Act and IFRS® Accounting Standards as well as the mandatory filing of the annual report in iXBRL format with the Danish Business Authority. Further, KPMG Acor Tax can assist you with tax matters such as corporate tax, VAT, transfer pricing or other tax matters that may arise in your Danish operations.
Are you considering new or complex transactions or arrangements, and concerned about determining the appropriate accounting and reporting treatment?
Our dedicated team of technical accounting experts can provide hands-on accounting and financial reporting advice on a full spectrum of transactions and arrangements. We will help to ensure your annual reports comply with recognition and measurement criteria, disclosure requirements and industry-specific rules, and support you in the preparation of robust and audit-ready accounting documentation.
Our technical knowledge, industry experience, and access to KPMG’s global and Nordic networks, means we are able to support you with the challenges you face across various accounting frameworks and regulations including:
- International Financial Reporting Standards (IFRS®)
- The Danish Financial Statements Act (Årsregnskabsloven)
- Broader Danish accounting and reporting legislation, such as the Companies Act (Selskabsloven) and the Bookkeeping Act (Bogføringsloven)
- Other local GAAPs, such as US GAAP, Norwegian GAAP and Swedish GAAP
Amongst other topics, we can support you with accounting considerations in relation to revenue recognition, share-based payments, intangible asset capitalisation, impairment testing, power purchase agreements, financial statement disclosures, mergers and acquisitions, group re-organisations, capital market transactions and IPOs, and much more.
Changing your accounting framework or transitioning to new accounting standards is more than just an accounting exercise. We will help you to understand the implications for your financial statements and suggest the tangible actions required to gather necessary information and deliver changes across your business.
Specific examples of how we can help include:
- Performing an initial impact assessment and preparing accounting proposition papers, highlighting differences between accounting frameworks in the case of GAAP conversions, or between current and new standards in the case of new standard adoption
- Compiling available accounting policy choices and offering advice on the advantages and disadvantages of different options
- Highlighting important practical steps you will need to take to ensure you have suitable processes in place to gather and report required information
- Assisting in the drafting and preparation of your new financial statements under your new accounting framework or incorporating newly-adopted standards
- Performing pre-issuance compliance reviews on financial statements or specific disclosures
- Updating your accounting policies and accounting manual
Our experts can provide you with workshops covering updates and/or refreshers sessions on:
- International Financial Reporting Standards (IFRS® Accounting Standards)
- The Danish Financial Statements Act (Årsregnskabsloven)
- Other relevant Danish legislation, including the Danish Companies Act (Selskabsloven) and the Bookkeeping Act (Bogføringsloven)
- European Sustainability Reporting Standards (ESRS)
Our workshops will be tailored to your business and your requirements, giving you a clear understanding of what you need to focus on.
After the workshop, you will have ongoing access to our presenters, who you can reach out to for further information, discussions, and sparring at preferential rates.
Poorly drafted accounting policies and omissions in your accounting manual might result in errors or inconsistent application of accounting requirements in your financial reporting and can pose issues as your business evolves and members of your financial reporting department change. Meanwhile, your current accounting policy choices may result in inappropriate financial reporting outcomes.
We can support you by:
- Ensuring you understand the available accounting policy choices and their implications, including benchmarking against industry peers, in order to achieve the right financial reporting outcomes
- Supporting you to draft robust, audit-ready accounting manuals, saving you time during the audit process
- Helping to ensure that your accounting policies are compliant with your selected accounting reporting framework.
