Philips IFRS
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care.
US GAAP and IFRS are already converging for years but still there are some crucial differences. Philips changed globally from US GAAP to IFRS based external reporting and QVS Consulting supported them in this journey. We supported the business in terms of adoption of new accounting rules, helped them to convert their systems and data and we supported the training globally.