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Accounting advisory services on Hungarian Accounting Law

Accounting advisory services on Hungarian Accounting...

Advice on how to manage complex accounting issues for individual transactions in accordance with the Hungarian Accounting Law.

The purpose of the service is to help our clients understand a complex or individual transaction or a new business arrangement and develop its accounting treatment, while identifying the potential alternative accounting treatments and associated advantages and disadvantages. On request, we also compile and represent the accounting statements of the ministry and tax authorities at the relevant organization.

 

Support consolidation

Based on our previous experience, companies do not always have the capacity or knowledge base that can smoothly complete the internal processes for the first consolidation and then execute it on time. Therefore, we are trying to help our clients from simple advice to complex processes with our consolidation-related services.

 

Currency transition

Changing the functional currency requires considerable thought on the part of the companies. According to the most recent change in the Hungarian Accounting Law, the returning is earliest possible in the third business year after the transition. Our currency transition service provides methodological support for this complex task.

 

Business transformations, group structure changes

KPMG provide assistance in answering accounting questions about the preparation of accounting documentation that is required by law. We are also help to prepare decision-making documents for the well-founded decisions during the transformation. We can prepare the merger/demerger balance sheets and inventories that comply with the requirements of the legislation during the transformation, or provide professional support for their preparation.

 

Fulfilment of liquidation

For the optimal process of the liquidation, we can help you with our advice in the following areas:

  • Outline the process of the liquidation, identify tasks
  • Assistance for the establishment of an optimal balance sheet structure for liquidation
  • Preparation of accounting documentation
  • Accounting services during the liquidation process

 

Advice on accounting features and compiling accounting processes for branches

Based on our previous experience we can provide effective assistance in developing the internal accounting regulations of the Hungarian branch and building the specific accounting information relationship and processes of the foreign company and branch as well. Based on preliminary consultation we will be happy to assist you in bookkeeping and reporting of branches as well.

 

Compilation of accounting policies

The purpose of our service is to take over the task of reviewing the accounting policies in close cooperation with the company, but with the least effort required of them. By conducting personal or telephone interviews, we assess the weaknesses and deficiencies in the current regulations and make specific suggestions for modifying and supplementing them.

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