The Professional Department

International Financial Reporting Standards (IFRS), which were adopted as a mandatory standard by public companies, are based on principles whose application requires judgment in selecting the appropriate accounting approach. Furthermore, companies can often select from a range of possible application approaches, which requires professional accounting guidance and consulting. Our firm offers a comprehensive portfolio of accounting consulting services tailored to every client's needs.

• Ongoing accounting consulting
• Accounting consulting in resolving complex accounting issues
• Preparation of accountant's opinions
• Preparation of accounting position papers
• Accounting consulting and accompaniment in the transition to IFRS reporting
• Accompaniment and assistance in preparing an application for a preliminary ruling (pre-ruling) to the Israel Securities Authority
• Accompaniment, assistance and consulting on accounting issues in discussions with the Israel Securities Authority

The process of preparing the company's financial statements and accompanying reports for an IPO on the stock exchange and for various capital raisings may be a complex process. This process may include, among other things, a transition between different financial reporting standards, selecting the appropriate accounting rules and procedures, preparing accounting position papers, and ongoing work with CPAs and various entities involved in the IPO process, such as lawyers, IPO consultants and underwriters. Our firm offers comprehensive accounting consulting services to companies in IPO and capital raising processes, and in M&A transactions.

• Consulting and accompaniment on every relevant accounting aspect in preparing financial statements for prospectuses to raise capital and debt on the stock exchange (or prior to M&A transactions)
• Preparation of consolidated financial statements for the periods required in the prospectus, according to IFRS provisions and securities regulations
• Preparation of separate financial information for the periods required in the prospectus in accordance with securities regulations
• Accounting consulting and accompaniment in first-time application of IFRS (transition between different financial reporting standards)
• Consulting and assistance in selecting the appropriate accounting policy
• Preparation of accounting position papers
• Assistance in preparing and organizing financial data for additional sections of the prospectus, including the Board of Directors' Report
• Accounting accompaniment in discussions with the Israel Securities Authority
• Accounting accompaniment in due diligence conducted by the underwriter's accountants

The purpose of accounting and financial due diligence is, among other things, to help the acquirer assess the risk of the purchase transaction, determine the outline of the transaction and how it will be executed, set the transaction price, and prepare for the future effects of consolidation or onboarding of the acquired company or activity. Due diligence examines, among other things, the financial and accounting position of the company or activity being acquired, including analysis of its business results, profitability, cash flow, and capital structure. Also examined are the financial reporting rules applied by the acquired company and its applied accounting policy, the quality of its financial reporting, and additional effects that may arise from acquisition of the company or the activity, including ramifications of consolidating the financial statements and of the purchase price allocation (PPA).

• Examination and analysis of the financial statements of the acquired company or activity (statement of financial position, profit and loss statement, equity statement and cash flow statement)
• Examination of the accounting rules and accounting policy applied by the acquired company or activity
• Examination of the possible effects of financial reporting standards differences between the acquiring and the acquired company
• Analysis of the effects of consolidating the financial statements after the acquisition date, including effects that may arise from the purchase price allocation (PPA)
• Assistance in selecting and determining the appropriate accounting policy

The process of preparing financial statements according to international financial reporting standards (IFRS) provisions is often complex, including preparing and organizing the information in the financial statements (in the main financial statements and in the notes to the financial statements), in addition to preparing and editing the financial statement itself, along with the relevant accompanying statements (management reports, presentations, etc.).

• Preparation of consolidated financial statements according to international financial reporting standards (IFRS) provisions, as well as the securities regulations in Israel
• Preparation of separate financial information (solo financial statements) in accordance with the securities regulations in Israel
• Preparation of complex financial statements, such as pro forma statements or financial statements that apply the As Pooling method
• Preparation of compositions and working papers in order to prepare the financial statements
• Preparation of accompanying statements such as reports and presentations for management
• Preparation of financial statements prior to M&A transactions
• Preparation of financial statements as part of transitions between different financial reporting standards

The International Financial Reporting Standards (IFRS), as well as the opinions and guidelines of the Israel Securities Authorities regarding their application, are occasionally updated, issuing both theoretical and practical updates. These updates include, among other things, new standards entering into effect, new interpretations and clarifications regarding accounting issues, and Israel Securities Authority opinions and guidelines (staff opinions, enforcement decisions, opinions submitted as part of preliminary ruling requests, etc.).

• Comprehensive and expanded courses regarding the IFRS for the company's finance department
• Courses specifically tailored for the company's finance department, with an emphasis on the application of practical accounting in the relevant industry (selected issues relevant to the activity area)
• Training on specific issues for the company's finance department
• IFRS update meetings, and preparation ahead of the relevant reporting period (quarterly, half-year and annual reports)