Scope sheet
finbryn.com
Close & reporting
IFRS conversion
IFRS conversion moves a US business's books between US GAAP and IFRS, or builds IFRS books directly, for companies with a foreign parent, an overseas investor or a cross-border transaction in view. Finbryn reconciles every material difference line by line, with a documented conversion memo an overseas auditor or acquirer's diligence team can trace back to the source figures.
What is included
- Line-by-line reconciliation between US GAAP and IFRS balances
- Lease accounting adjustment reflecting the IFRS 16 single right-of-use model
- Inventory costing restatement where LIFO is used for US GAAP purposes
- Revenue recognition adjustments for any contracts where timing diverges
- An opening IFRS balance sheet for first-time adoption engagements
- A conversion memo documenting every adjustment and its basis
- A reconciliation maintained period over period, not a one-time translation
- Audit-ready workpapers formatted for an independent audit firm to review
The process
- 1.
Review the existing US GAAP financials
We start from your current books and identify which areas, leases, inventory, revenue timing, are likely to diverge given your specific contracts and asset base.
- 2.
Test each divergence area against actual transactions
Rather than assuming a difference exists, we check your real lease terms, inventory costing method and contract structures against both frameworks.
- 3.
Calculate the IFRS-basis adjustment
For each genuine difference found, the IFRS treatment is calculated and the reconciling entry from the US GAAP figure is built.
- 4.
Document the conversion memo
Every adjustment is recorded with the US GAAP starting figure, the IFRS result, and the basis for the treatment applied.
- 5.
Build the opening IFRS balance sheet where needed
For a first-time adoption, transition adjustments are separated from ongoing period activity following the IFRS 1 approach.
- 6.
Senior review and delivery
The reconciled IFRS financials and memo are reviewed before reaching you or your parent company's finance team.
Software
NetSuite, Sage Intacct, QuickBooks Online, Google Sheets, Excel
Quality control
The reconciled IFRS financials and the memo are reviewed by a senior reviewer before delivery, so the reasoning behind every adjustment is checked before it reaches you or your parent company's finance team.
Pricing
IFRS conversion is scoped and priced as its own project separate from the tiers at /us/pricing, since the workload depends on how many genuine divergence areas exist in your business, inventory costing and leases usually drive the most work. Ongoing parallel reporting is priced per period once the initial reconciliation is built and confirmed in writing.
Finbryn is a brand of Northlane Solutions Inc., a Delaware corporation.
Reviewed September 2026