Advisory Services

GKK PARTNERS delivers comprehensive all-round solutions. We support our clients by taking on the role of a long-term and forward-looking partner. Apart from offering the standard tax consultancy and accounting/auditing advisory services, we also support businesses in specific areas by providing expert design and transaction advice.

We identify the factors that are critical for success, reveal areas with the potential for improvement to optimise success, and offer implementation support. Our conclusions are always practical, implementation-ready recommendations. Always one hundred percent – success-oriented.

 

Due Diligence

Invest in new markets? Sell a company? Adapt the shareholding portfolio? Business people face unusually complex challenges when they have to make these kind of decisions. In these cases, businesses need a consultant they can trust implicitly: from providing answers to specific individual questions to providing comprehensive advice from project start to finish. Analysing opportunities and risks is something we do every day. We focus on the two most important aspects - our clients' requirements and our respective expertise.

Our transaction experts draw particularly on their tax and commercial law expertise and business management background knowledge when providing the following services: 

  • Financial and due diligence
  • Ongoing advice during merger and acquisition projects
  • Contract negotiation support
  • Company valuations
  • Purchase price valuations
  • Post-acquisition audits
Company Valuations

In business management, a host of very different situations may call for the valuation of companies, individual divisions, or even just individual assets. We support our clients in these situations by taking on the role of a reliable advisor, providing an unbiased expert opinion, or an expert opinion in arbitration cases. Regardless of the reasons calling for a valuation and the individual circumstances, the value of a company is always calculated using either future-oriented (profitability, discounted cash flow), market-oriented (multiplier) or decision-oriented (real option) methods.

Our activities in this area include the following key services:

  • Company valuations
  • Valuation of intangible assets
  • Purchase price allocation
  • Impairment test
International Accounting (IFRS)

Market globalisation has also changed accounting procedures. Since 2005, all capital market-oriented companies are required to prepare their year-end reports in accordance with the International Financial Reporting Standards (IFRS). However, medium-sized companies can also benefit from switching to accounting in accordance with the IFRS, which are akin to a global, uniform accountancy language. A language, however, that is subject to continuous change, and whose comprehensiveness and complexity continually poses new challenges for businesses. GKK PARTNERS has many years of experience in preparing year-end accounts to IFRS for stock exchange listed companies. Our staff includes internationally trained  accountants and auditors.

In the area of international accounting, we offer the following services:

  • Preparation and auditing of annual accounts and group financial statements in accordance with IAS/IFRS
  • Supervision of IFRS adoption projects
  • Solutions for complex issues (e.g. latent taxes, purchase price allocation, impairment tests)
  • Compilation of an IFRS manual or IFRS reporting package
  • Staff training
Value Added Tax

Value added tax law is a particularly complex issue as it is subject to European law as well as various other laws. Errors in input claims or the non-payment of value added tax can lead to considerable obligations towards the fiscal authorities or to legal disputes with business partners.

As we are part of the international network Morison International, we can ensure that international transactions as a consequence of national and international goods and services traffic are correctly designed and processed.

GKK PARTNERS' team of value added tax specialists assists with ensuring the maximum profitability of international transactions and with their correct accounting and documenting in order to avoid financial and taxation risks.

Our services in detail:

  • VAT input optimisation
  • Special VAT audits
  • National and international input tax recovery procedures and other obligatory declarations
  • In-house training on VAT law
Leasing

In 2009, leasing companies that offer leasing financing became subject to supervision by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin, the German Federal Financial Supervisory Authority), which has led to a number of balance sheet, tax law and supervisory regulation issues. As we are experienced year-end auditors and consultants whose clients include many medium-sized companies, we have consolidated our in-depth industry knowledge to set up a team of leasing issue specialists.

Our services include:

  • Annual financial statement auditing in accordance with HGB German Commercial Code and KWG German banking and lending law
  • Preparation of annual accounts in accordance with RechKredV, the German bank accounting law
  • Assessment of supervisory regulation requirements
  • Support in implementing minimum risk management requirements
  • Analysis of complex balance sheet issues, for example ABS structures or forfeiting
  • Solutions for typical leasing-related tax issues
Film and Media

Over the past few years, the film and media industry has been subject to ever stricter taxation controls. The sheer number of extremely complex regulations has led to increasing uncertainty in the industry, exacerbated by the fact that in many areas, the law remains unclear, for example with regard to how taxation issues should be handled in the case of national and international co-productions.

Further typical film industry related examples are the German media decree (on tax exemption), the introduction of minimum taxation and the loss offsetting regulations in the context of tax-related time to pay agreements. Particularly media funds have become considerably less attractive for investors, as the scope for loss offsetting has, for the most part, been severely restricted.

The film industry nevertheless continues to depend heavily on external financing. Not least also because the banks have pursued extremely restrictive lending policies over the past few years, adding to the difficulties of project financing. Another problem faced by the media industry is increasingly complex contracts, particularly in the case of international co-productions. Besides financing issues, these concern the territorial distribution of exploitation rights, consultation rights during production, criteria for the receipt of grants, or the issue of the legal entity of a permanent establishment being based outside of Germany, which can significantly impact taxation.

GKK PARTNERS' challenging remit where film projects are concerned is the development of optimum solutions for our clients whilst ensuring compliance with sometimes conflicting taxation, financial and legal regulations. We have many years of experience of acting in an advisory and auditing capacity for various film and media industry companies.

Our range of services includes:

  • Preparation and auditing of annual and group accounts in accordance with HGB German Commercial Code and IFRS
  • Preparation of annual tax returns
  • Current payroll and financial accounting
  • Advice on special balance sheet issues
  • Ongoing tax advice
  • Support during tax audits
  • Expert opinion reports on the taxation issues associated with potential film projects
  • Artists taxation in an international context

Morison KSi has published the first in its series of “Your Global Advisers” publications which promotes Morison KSi’s experts in a particular industry. The first edition is for the Media Group.

The attached guide provides existing and potential clients with a detailed profile of all Morison KSi members with expertise in the Media and Entertainment sector, detailing their specialist areas and key contacts.

The Media Group is made up of 10 firms - one of them is GKK PARTNERS - from across the globe. The key objectives of the group are to:

  • Exchange ideas on how firms can service clients within the media and entertainment industry internationally
  • Generate new business by offering a worldwide service with specialist skills
  • Add value to services

Your Global Advisers – Media and Entertainment (PDF, 3 MB)

Family Office

Providing advice on the management of substantial private and family properties goes hand in hand with offering an all-round support service to medium-sized businesses. If a family-owned business is to enjoy long-term success, decisions must always also take the interests of the family into consideration.

Our dedicated Family Office helps clients to administrate, manage and structure their assets with the aim of providing long-term security for their property and increasing its value. In this context, our activities tend to focus on giving business and tax-related advice, although we are also happy to extend our services to coordinating asset and real estate administrators, banks and legal advisors.

Our Family Office's consulting services include the following:

  • Strategic alignment
  • Asset reconciliation
  • Source and application of funds statement
  • Performance analyses
  • Tax planning
  • Inheritance planning
  • Conflict management
Italian Desk

Our Italian Desk team has many years of experience in advising Italian-speaking clients pursuing business activities in Germany (inbound consulting). Our familiarity with the respective business cultures and our appreciation of the frequently underestimated differences in mentality allow us to overcome language barriers and to communicate content in a way that is easily understood in order to make goal-oriented contributions to arriving at the right decisions.

Our excellent contacts in the professional auditing and accounting field in Italy allow us to support our German clients in all their Italian business activities.

We offer the following services:

  • Italian-speaking contacts
  • Opening of a branch or office
  • Subsidiary foundation
  • Registration with the appropriate authorities
  • Monitoring of day-to-day business activities
  • Mediation between German subsidiary and Italian parent company
  • Financial and payroll accounting
  • Preparation of annual accounts and tax returns

Dieser Beitrag ist nach bestem Wissen und Kenntnisstand verfasst. Eine Haftung kann trotz sorgfältiger Bearbeitung nicht übernommen werden. Die Ausführungen dienen ausschließlich der allgemeinen Information und können daher eine qualifizierte, fachliche Beratung im Einzelfall weder ganz noch teilweise ersetzen. GKK PARTNERS steht Ihnen dazu gerne zur Verfügung.


GKK PARTNERS
Ohmstraße 15
80802 München
Fon +49 (0)89 / 38 99 78 -0
Fax +49 (0)89 / 38 99 78 -78
info@gkkpartners.de
www.gkkpartners.de