How to Navigate International Accounting Standard Conversions

About the Episode

Katrina Nacci, a cross-border accounting advisor, discusses the complexities of converting accounting standards in international M&A transactions. Katrina offers a high-level look at the differences between U.S. and international accounting standards. She highlights when it might be necessary to convert from local GAAP to U.S. GAAP or IFRS, and the importance of having detailed documentation and a strong internal team familiar with local GAAP.

“Have documentation ready for what you are already doing in accounting – this just makes things so much easier.”

Katrina Nacci

What You’ll Learn

• Expertise in both local and international standards is scarce: It’s challenging to find accountants who are well-versed in both U.S. GAAP (generally accepted accounting principles) standards and IFRS (international financial reporting standards).
• Documentation is key: Companies need to have detailed documentation of their current accounting policies and practices to make the international conversion process smoother.
• International accounting conversion is typically historical: Companies often need to convert historical financials to meet audit and regulatory requirements.
• Deviations from standards need to be addressed: Companies may have taken materiality-based shortcuts, which need to be identified and corrected during the conversion process.

Topics Covered

Want More? Related Resources: 

• Adjusting Financial Statements: A Complete Guide
• EBITDA | Definition, Formula & Example – A Complete Guide

Meet Our Guest

Katrina Nacci

CPA | Frankfurt, Germany

As an experienced finance professional with a decade of cross-border expertise, Katrina began her journey with PwC in Boston before moving to Germany to broaden her exposure to international businesses. Over the years, she has specialized in assisting European companies to go public in the U.S., facilitating U.S. companies’ acquisitions in Europe, and managing IPO readiness, accounting conversions, and complex cross-border transactions.

LinkedIn: https://www.linkedin.com/in/katrina-nacci-cpa/