DPC solution: overcoming challenges for going beyond together

The DPC's multidisciplinary team joins technical sector expertise and broad experience to assist companies in complying with the international accounting standards (IFRS), keeping attention to the operational effects of the rules on business dynamics

21/01/2021

HIGHLIGHTS


DPC solution: overcoming challenges for going beyond together.

Learn more about another case in which DPC contributed to optimize the client's performance and support their business growth.


IFRS 15: DPC supported IT multinational in the compliance with the accounting standard


The DPC's multidisciplinary team joins technical sector expertise and broad experience to assist companies in complying with the International Financial Reporting Standards (IFRS), keeping attention to the operational effects of the rules on business dynamics.

From an advisory and strategic work, performances of analyzes considering the constant updates of the standards and the specific accounting business of each client are made. By complying with such global practices, the company goes far beyond the compliance, transmitting to the market a transparent image that reinforces its strength.



Context / Challenge

An North American multinational that is a global reference in IT solutions needed to apply the rules of IFRS 15 on service contracts and recognize the adjustments in its local records.

With more than 10,000 global clients, complying with IFRS is utmost for the consolidation of the group's results and for its business strategies.

Companies that sell different aggregated products and services, such as software companies, for example, are especially influenced by this standard.

The application of the IFRS 15 creates a single model for the treatment of the revenue from agreements with clients, to standardize and guarantee ways to establish a comparison between the practices for revenue recognition.

DPC’s Solutions

The work was strategic and intense, since it required a comprehension of the business' specific features from the DPC's experts and a surveying of the terms of the contracts signed by the multinational, considering all the particularities of the operations and revenues.

DPC also conducted a diagnosis of the existing differences between the accounting method adopted to the date and after the application of IFRS 15, in order to determine the actions for the effective adoption of the law.

Closely and collaboratively, the DPC`s experts worked together with the client in designing a tailored solution that comprised all variables related to the business that should be considered under the terms of the standard.

Results for the client

The DPC's consultative performance made this client reach its goal: the standardization of its accounting data according to international criteria.

The solution provides the opportunity to obtain this information in compliance with the standard and aims to support users of financial statements to understand the nature, the amounts, the timing, and the uncertainties in relation to revenue and cash flows from contracts with clients. This work was also of great importance for the consolidation of the group's financial globally information.

Since the adaptation process, DPC remains advising the multinational in the monthly control of the treatment of revenues, considering all the normative aspects and good market practices.

In addition to the accounting services, DPC assists this client with complete solutions in the taxes area, in the personnel department routines and in complying with the obligations with the Central Bank.

How DPC may help your company?

Domingues e Pinho Contadores has specialized team ready to assist your company.
Contact us by the e-mail dpc@dpc.com.br

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