Accounting Advisory
In view of the increasing complexity and requirements associated with financial reporting, it has proven decisive to keep operational processes up to date at all times. Crowe Hamburg supports your company in designing and implementing change processes with regard to ERP systems, financial reporting and corporate planning.
Conversion of ERP systems
Background
Among our medium-sized corporate clients, we have established that the introduction of new accounting software, e.g. by SAP, is accompanied by various challenges:
- Accounting procedures are often not adequately optimized in line with the new system. The potential offered by the new software is only exploited in part. Without a benchmark with other companies, management often finds it difficult to assess the quality of their own accounting processes.
- The company lacks the requisite resources to facilitate a smooth transition to the new system during the accounting project phase.
- In the past, our experts have supported various software launches, concentrating on optimizing the accounting processes and supporting the accounting team during the conversion phase.
Our range of services
We support you in getting the most out of your accounting system. We achieve this through the following measures, for example:
- We help you to optimize your structures and procedures in accounting, e.g. SAP workflows or incorporating archiving solutions.
- We also bridge short-term capacity bottlenecks in your accounting department and help you to find suitable personnel.
Adjustment of financial reporting procedures
Background
International financial reporting standards are increasingly gaining inroads in more areas of accounting. Capital market orientation, incorporation in (international) corporate groups or conditions outlined by your bank are just some examples of adjustment of your financial reporting procedures to the International Accounting Standards / International Financial Reporting Standards (IAS/IFRS) or US GAAP, for example.
Our range of services
We combine highly-topical expertise and maximum transparency to ensure smooth and swift implementation as well as maximum value added of such adjustments. As a company, you benefit from a sustainable process with a quantifiable additional value.
International financial reporting standards are increasingly gaining inroads in more areas of accounting. Capital market orientation, incorporation in (international) corporate groups or conditions outlined by your bank are just some examples of adjustment of your financial reporting procedures to the International Accounting Standards / International Financial Reporting Standards (IAS/IFRS) or US GAAP, for example.
Our range of services
We combine highly-topical expertise and maximum transparency to ensure smooth and swift implementation as well as maximum value added of such adjustments. As a company, you benefit from a sustainable process with a quantifiable additional value.
Preparing and analyzing corporate planning
Background
An unambiguous alignment for the future is of great significance for the sustained success of your company and for monitoring goals and targets. By drawing up and introducing corporate planning, abstract corporate development targets can be defined and communicated tangibly and in detail. And where plans are already in place, it can make sense to periodically initiate adjustments or revalidate approaches to planning.
Our range of services
When introducing corporate planning, we collaborate closely in developing a planning solution based on our tried-and-tested tools which can be incorporated in full in the existing controlling structure, if so requested. As it is often difficult for medium-sized companies to sufficiently revalidate plans on account of difficult-to-access data, we also support you here in the form of economic and sector analyses. Apart from technical verification, our experts can also provide support in defining processes and management reporting in order to develop a comprehensive and value-added overall solution.
An unambiguous alignment for the future is of great significance for the sustained success of your company and for monitoring goals and targets. By drawing up and introducing corporate planning, abstract corporate development targets can be defined and communicated tangibly and in detail. And where plans are already in place, it can make sense to periodically initiate adjustments or revalidate approaches to planning.
Our range of services
When introducing corporate planning, we collaborate closely in developing a planning solution based on our tried-and-tested tools which can be incorporated in full in the existing controlling structure, if so requested. As it is often difficult for medium-sized companies to sufficiently revalidate plans on account of difficult-to-access data, we also support you here in the form of economic and sector analyses. Apart from technical verification, our experts can also provide support in defining processes and management reporting in order to develop a comprehensive and value-added overall solution.
Start-up consulting
Background
In order to enable the management of start-ups to fully concentrate on implementing their business ideas, our young team provides fast and flexible support for companies during each growth phase. By means of services specially aligned toward start-ups, we achieve cost savings without compromising our high standards of quality. We do this by passing on reasonable fees charged for start-ups.
Our range of services
Apart from accounting, legal and tax consulting, our interdisciplinary team also supports you in finding and approaching investors. And we prepare significant and favorable reports presenting your company to investors in a comprehensive and easily comprehensible manner.
In order to enable the management of start-ups to fully concentrate on implementing their business ideas, our young team provides fast and flexible support for companies during each growth phase. By means of services specially aligned toward start-ups, we achieve cost savings without compromising our high standards of quality. We do this by passing on reasonable fees charged for start-ups.
Our range of services
Apart from accounting, legal and tax consulting, our interdisciplinary team also supports you in finding and approaching investors. And we prepare significant and favorable reports presenting your company to investors in a comprehensive and easily comprehensible manner.
Credit assessments
Background
In the case of medium- and long-term or essential financial commitment, dynamic development of the economic environment often demands an examination of the contract partner's creditworthiness to prevent payment defaults. Standardized information from various sources often reflects a contradictory image in terms of a company's creditworthiness. Furthermore, analyses are based on short-term solvency which is insufficient for long-term contracts. And in many cases, the reasons for awarding a credit score are not sufficiently evident and the database obsolete. This is attributable to the fact that financial information on the analysis object required for a credit rating is often not or only insufficiently publicly accessible, standardized preparation of the credit assessments does not consider the individual features of a company in many cases and there is no comprehensive sector expertise for classifying the results.
Our range of services
We offer you an individual and future-related assessment of the credit rating of the analysis object taking consideration of the corresponding transaction structure and the extent and duration of financial commitment. Our credit standing experts analyze the annual and consolidated financial statements of previous years as well as the budgetary accounts for the coming periods which are made available to us by the actual analysis object. This is followed by a critical appraisal of the plausibility of budgetary accounts, including against the backdrop of anticipated development in the respective sector. Detailed review of the relevant contracts as well as discussions with company representatives ensure a comprehensive understanding of the business model and guarantee correct mapping of the past and future financial and profit situation in our credit rating analyses which ultimately form the basis for our credit assessment.
In the case of medium- and long-term or essential financial commitment, dynamic development of the economic environment often demands an examination of the contract partner's creditworthiness to prevent payment defaults. Standardized information from various sources often reflects a contradictory image in terms of a company's creditworthiness. Furthermore, analyses are based on short-term solvency which is insufficient for long-term contracts. And in many cases, the reasons for awarding a credit score are not sufficiently evident and the database obsolete. This is attributable to the fact that financial information on the analysis object required for a credit rating is often not or only insufficiently publicly accessible, standardized preparation of the credit assessments does not consider the individual features of a company in many cases and there is no comprehensive sector expertise for classifying the results.
Our range of services
We offer you an individual and future-related assessment of the credit rating of the analysis object taking consideration of the corresponding transaction structure and the extent and duration of financial commitment. Our credit standing experts analyze the annual and consolidated financial statements of previous years as well as the budgetary accounts for the coming periods which are made available to us by the actual analysis object. This is followed by a critical appraisal of the plausibility of budgetary accounts, including against the backdrop of anticipated development in the respective sector. Detailed review of the relevant contracts as well as discussions with company representatives ensure a comprehensive understanding of the business model and guarantee correct mapping of the past and future financial and profit situation in our credit rating analyses which ultimately form the basis for our credit assessment.