US GAAP conversion

Two frameworks, one underlying business

A UAE entity reporting under IFRS for its own licence and Corporate Tax purposes often sits underneath a US parent, investor or lender that consolidates in US GAAP. Rather than running two full sets of books by hand, we build a scheduled reconciliation between the entity's IFRS figures and a US GAAP basis, refreshed every period rather than reconstructed once a year under deadline pressure.

Where the two standards actually diverge

Revenue timing, lease accounting and a handful of other areas produce genuinely different answers under IFRS and US GAAP even from identical source transactions. Each adjustment is written into a conversion memo explaining what changed and why, so a reviewer two years from now can trace the logic rather than trust a number with no paper trail behind it.

The first conversion is the heaviest one

Where this is the first time an entity's figures have been converted, an opening US GAAP balance sheet has to be built before ongoing reconciliation can even start. After that, updating the schedule each period is a much lighter lift, since the mapping between the two frameworks is already established.

Common the moment group reporting starts

A Dubai or Abu Dhabi subsidiary underneath a US holding structure usually needs this from the point consolidated group reporting begins, not from the point a first audit or funding round forces the question, since retrofitting a year of history is harder than keeping the schedule current from day one.

What we do not sign off on

We prepare the converted figures and the memo behind them. Any formal attest opinion on those numbers sits with an audit firm engaged separately, never with Finbryn, and a senior reviewer checks our own work before it is handed over.