Topic hub · Financial reporting
NFRS in Nepal: reporting, adoption and audit readiness
Nepal Financial Reporting Standards change what profit, assets and gearing look like, often without anything changing in the business. This hub brings together our guidance on choosing the framework, adopting it and being ready when the auditor arrives.
Which framework applies
Public accountability and size decide whether a company reports under full NFRS, NFRS for SMEs or NAS for micro entities.
Adopting it without surprises
The opening balance sheet is the real project. The technical articles walk through dates, elections and reconciliations.
Before the auditor arrives
The same queries come up every year, so the evidence can be assembled in advance.
Guides for business owners
Plain language: what it means, what to do and what to prepare.
- For business owners · 16 Jul 2026First-Time NFRS Adoption: What Management Needs to PrepareA practitioner's project plan for a company's first transition to Nepal Financial Reporting Standards: the opening balance sheet restatement, the specific areas that generate the largest adjustments, and how to sequence the work before an audit deadline forces it.
- For business owners · 13 Jul 2026Does Your Company Need to Adopt NFRS?Which entities NFRS applies to under ICAN's roadmap, what actually changes in your financial statements, and how to find out which category your company falls into.
Technical analysis for professionals
Section-level analysis, procedures and edge cases.
- For professionals · 10 Oct 2026Running a Hotel or Resort in Nepal: Seasonal Cash Flow, VAT and NFRSHotels and tourism businesses in Nepal earn in bursts and pay all year. How to plan seasonal cash flow, handle VAT on room and food bills, and report under NFRS.
- For professionals · 19 Aug 2026NFRS for a Large Retail Business: Where the Numbers Actually MoveWhat changes in a retailer's statements when it moves to NFRS: leases, loyalty and vouchers, inventory, refundable deposits and gratuity. Area by area, what makes each hard in retail and what the working paper must show.
- For professionals · 28 Jul 2026NFRS, NAS and IFRS: What Actually DiffersThree names that get used interchangeably and should not be. What NAS was, what NFRS converged with, and why a set of NFRS statements is not automatically IFRS-compliant when an investor asks.
- For professionals · 26 Jul 2026Leases Under NFRS: What Comes Onto Your Balance SheetRent that was an expense becomes an asset and a liability. What that does to EBITDA, gearing and bank covenants, and why the covenant conversation should happen before the accounts are signed.
- For professionals · 23 Jul 2026First-Time NFRS Adoption: The Opening Balance Sheet Is the ProjectAdoption is not a change applied from this year. It requires a transition date, a restated opening balance sheet and restated comparatives, and the opening balance sheet is where adoption projects overrun.
- For professionals · 22 Jul 2026NFRS Audit Readiness: What the Auditor Will Ask ForThe documents and judgements an NFRS audit turns on, assembled before the auditor arrives rather than during fieldwork. The same queries appear every year, which means they can be answered in advance.
- For professionals · 20 Jul 2026NFRS Applicability in Nepal: Which Standard Applies to Your CompanyWho must apply NFRS, who applies NFRS for SMEs, what Nepal's carve-outs change, and what first-time adoption actually involves. Written for the finance manager who has just been told by an auditor that NFRS applies.
How we can help
- NFRS and financial reportingStatements your auditor signs and your bank reads
- Bookkeeping and monthly accountsClean books to report from
Tools and references
- Business health checkA quick read on your numbers