Globalization of corporations requires working with international standards of accounting. Our experts prepare your financial statements in different formats, such as IFRS, US and UK Gap. They perform auditing, tax planning, and provide advice on transfer pricing.
In 9ilc® we know the complexity of the international tax system, therefore, we have Associates within Europe who provide us with support and lend their services to gain understanding of the tax provisions of other countries and their impact at the local level.
Do you need financial strategies to develop and maintain competitive advantages?
9financial® (Financial Advisory Services) has expert professionals in corporate finance and financial strategies, with experience in advising clients from the private, public and mixed sectors in different areas of the economy, capable of catering each specific need of each of our clients.
We offer a solid structure of solutions in financial matters that can provide you reliable support, and will allow you to focus on your core business, while we take care of looking after your financial interests. Our goal is to support our clients by our experience in each decision made for the future of your company, through efficient processes that improve control and create value.
Improve your reporting and achieve the following goals
• We help the decision making process by providing accurate financial reporting.
• We will provide a clear vision of your business and support the top managers in your organization.
• We will identify the financial and economic risk of your business, through financial planning and the analysis of operations and of previous historical results.
• We establish profitability of objectives and your core business based on understanding your organization, its products and service lines, the market and the commercial environment.
• We analyse possible improvements in your financial processes and systems so that information is more accurate and easily available, offering alternate operation models for your financial operation.
• We identify processes to maximize efficiency, savings, cost control, expenses and funding needs in order to maintain the liquidity of your organization.
• We provide clear, timely, reliable, and comparable financial information that is useful within the entire organization and for investors, clients, vendors and other stakeholders.
• We advise and assist during the implementation of International Financial Reporting Standards and the analysis of the internal and external impact of implementing international accounting standards.
Do you wish to make important decisions for your business based on timely, reliable, comparable and useful financial figures?
We have professionals who carry financial analysis studies based on accounting information, applying financial indicators, and analysing each component within the structure, through vertical and horizontal analysis, and providing a complete diagnosis of your company, in order to recommend solutions to the current issues, strengthening all positive aspects, establishing a financial plan for the company, and analysing the financial viability of the current or future expected business.
Have you discovered the most proper structure and financial planning for your organization, and how to achieve it?
Financial planning and budgeting will allow for you to know how much capital is necessary to operate, identify the initial investment and cash flow necessary to operate the business.
We will identify the amount of resources (staff, services, etc.) necessary to provide your services or products for a specific period, and how these needs may vary throughout time.
We structure budgeting models, financial plans, periodic budget execution, and variation analysis to be used as control tools for implementing strategies, adjusting them to the organization according to your needs, and designing and implementing a model tailored for the company.
Is your company prepared for implementing international financial reporting standards?
International Financial Reporting Standards (IFRS) are a set of accounting standards and guidelines enacted by the International Accounting Standards Board (IASB), which establish the requirements in terms of recognition, measurement, reporting and information to include in Financial Statements, designed with the universal business language in mind in order to allow for company figures to be understandable and comparable through translational borders.
These standards are a consequence of the ever larger existence of foreign trade, and they are becoming the universal accounting language to ensure all countries speak the same financial language, while homogenizing information frameworks and facilitating the interaction of markets, allowing to take another step towards globalization.
How can you benefit from the International Financial Reporting Standards (IFRS)?
In Colombia, the implementation of international accounting standards has become more important with the approval of Law 1314 of 2009, which set forth the government directive to move towards international accounting and auditing standards. At 9financial® we have professional experts who advise and assist you to implement IFRS, initially analysing your financial statements for compliance and adoption of standards, and evaluating key impacts at an internal and external level.
We advise and assist you during the comparison period through a retroactive application of IFRS, as well as during the first period of implementation of standards. Within the process of implementation, there will be opening balances, transition balances and Comparative Financial Statements under IFRS.
The adoption of International Financial Reporting Standards (IFRS) will allow for improvement of financial operations through stronger accounting policies, obtaining more transparent potential benefits, more consistent and comparable financial information .