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Consulting & Advisory


Business Consulting & Advisory

 The MRV Consulting team provides customized and responsive consulting services focused on reliable results to meet your specific needs.

From mergers, acquisitions & dispositions, financial and management reporting, tax planning and compliance, property tax, bankruptcy & restructuring, financing, to litigation and dispute resolutions, MRV Consulting provides independent consulting and advisory services including valuation advisory, litigation support, and value-related services to a broad spectrum of industries and market sectors.  

We provide you customized and responsive business consulting services along with business advisory services on business mergers, acquisitions, dispositions, change of ownership, and tax transactions. We also provide advisory services to assist businesses in their restructuring and/or bankruptcy process.

IFRS 1 First-time Adoption of International Financial Reporting Standards 

MRV Consulting professionals have extensive experience with International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). Our professionals have performed numerous analyses for companies in various industries around the world. We have conducted face-to-face meetings advising companies on the adoption of IFRS (including IFRS 1, IFRS 3, and IFRS 36).

IFRS 1 is applicable when an entity adopts IFRSs for the first time by an explicit and unreserved statement of compliance with IFRSs. Some IFRS 1 Considerations to consider are:


  • Identify key dates

  • Identify differences between existing accounting policies and IFRS and determine IFRS policies

  • Determination of estimates under IFRS

  • Elect and apply optional exemptions

  • Apply mandatory exceptions

Opening Balance Sheet

  • Recognize all assets and liabilities required under IFRS (internal development costs) when the respective criteria are met

  • Derecognize all assets and liabilities not permitted under IFRS (post-acquisition restructuring if the acquiree did not recognize a provision under IAS 37)

  • Measure assets, liabilities, and equity (impairment of assets)

  • Reclassify items (deferred tax items)


  • Identify areas where extensive disclosures will be required

  • Reconciliation of equity and income as reported under previous GAAP to its equity and income under IFRSs

  • Distinguish between policy changes, estimate changes, and error corrections

  • Narrative discussion adjustments

  • Asset impairment

  • Deemed cost

Other Capabilities                                                       


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