International Financial Reporting

International Financial Reporting

HGB, IFRS and US GAAP — aligned for international corporate groups

International corporate groups regularly face the challenge of reconciling different accounting standards and reporting requirements. Coordination between group finance, accounting, tax and local entities often leads to inefficiencies, reporting risks and unnecessary complexity.

We ensure consistent, audit-ready and efficient International Financial Reporting in Germany — acting as the interface between group reporting requirements, local HGB financial statements and IFRS or US GAAP reporting.

International Financial Reporting & Group Reporting:
Reliable financial statements despite complex requirements

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Typical Challenges in International Financial Reporting

  • Different accounting frameworks under HGB, IFRS and US GAAP
  • Extensive coordination between group headquarters and the German entity
  • Reporting risks and potential compliance issues
  • Information gaps between accounting, tax and group reporting

Your Benefit from Our Support

You receive reliable, consistent and audit-ready International Financial Reporting in Germany, with properly aligned local financial statements and integrated group reporting.

Key Areas of Expertise in International Financial Reporting – HGB, IFRS and US GAAP

HGB Financial Statements & Tax Balance Sheets:
Correct, transparent and aligned with group reporting.

We prepare financial statements in accordance with German commercial and tax law (HGB) while ensuring alignment with group reporting requirements.

  • Preparation of HGB financial statements and tax balance sheets
  • Consideration of group reporting requirements
  • Alignment with international reporting standards

IFRS and US GAAP Expertise:
Reliable reporting for international corporate groups.

We support international companies in implementing IFRS and US GAAP reporting requirements in Germany.

  • Support with IFRS and US GAAP reporting
  • Expertise in the differences between HGB, IFRS and US GAAP
  • Efficient coordination with international finance teams

Conversion from IFRS & US GAAP to HGB:
Accurate conversions and reporting packages for international corporate groups.

We prepare reconciliation statements and reporting packages for group reporting requirements.

  • Conversion from IFRS reporting to HGB
  • Conversion from US GAAP reporting to HGB
  • Preparation of statutory HGB financial statements in Germany

Group Financial Statements & Consolidation:
Professional support for group accounting processes.

  • Support in the preparation of international consolidated financial statements
  • Assistance with consolidation matters
  • Alignment with audit requirements

Intercompany Transactions & Group Reconciliation:
Consistent accounting without information loss.

  • Documentation and accounting of intercompany transactions
  • Intercompany accounting and reconciliation
  • Ensuring consistent postings across the group

Support for local statutory audits.

We actively accompany local financial statement audits and act as the interface between auditors, group finance and accounting teams.

IconInternational Financial Reporting in Germany:
Your Advantage with Taube Tax Advisory

Schedule a strategic consultation on International Financial Reporting

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Specialisation:
Oracle NetSuite in International Financial Reporting

Info Icon Only few tax advisors in Germany have practical experience with Oracle NetSuite in international group structures — benefit from our expertise.

Oracle NetSuite & International ERP Structures
We have particular expertise working with Oracle NetSuite and international ERP systems within multinational corporate environments.
Multibook & Multi-Ledger Structures
International corporate groups frequently use multibook or multi-ledger structures to reflect different accounting standards simultaneously.

To ensure these systems also meet German accounting and tax requirements, a precise mapping and alignment of account structures is required so that IFRS, US GAAP and HGB can be correctly and audit-proof reflected in the system.

  • IFRS and US GAAP based group reporting
  • Multibook setups in NetSuite
  • Mapping and reconciliation between IFRS, US GAAP and HGB

NetSuite & German Accounting Logic - Preparing for audits despite international ERP systems
International ERP systems such as Oracle NetSuite are often primarily designed for group reporting and do not automatically reflect the specific requirements of German accounting and audit practices.

We ensure that German accounting structures are correctly implemented within the system and remain transparent and traceable for tax audits and statutory financial statement audits.

  • Implementation of German accounting logic
  • Alignment between group accounting and German financial accounting
  • Preparation for tax audits within international ERP environments

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Note: Oracle NetSuite is a registered trademark of Oracle Corporation. Taube Tax Advisory has no business relationship with Oracle Corporation and is not an official partner or provider of Oracle NetSuite.