Streamlined Audit Readiness: Leveraging Public Accounting Expertise for Timely, Comprehensive Deliverables

Our team of experienced accounting professionals began their careers in public accounting. We have a strong understanding of audit procedures and efficiently prepare audit deliverables such as technical white papers, supporting workpapers, financial statements, footnotes and a variety of SEC filings.

We begin each audit readiness engagement by preparing a detailed project plan, including specific tasks and deliverables to be completed, estimated hours, and timelines to keep the project on track and drive completion ahead of deadlines. We bring hands-on expertise in a wide variety of areas, including:

US GAAP / IFRS Implementation or Conversion
- Convert cash basis financials to US GAAP- or IFRS-compliant, accrual basis financials
- Determine complex accounting and/or new accounting pronouncements to be implemented
- Convert from US GAAP to IFRS or IFRS to US GAAP by identifying significant differences between GAAP and IFRS and implementing appropriate changes
- Prepare supporting reconciliations and rollforwards for significant accounts
General Reporting
- Prepare public company filings including 10-Ks, 10-Qs and S-1’s
- Perform significance tests to determine if acquisitions require additional audit procedures and reporting disclosures under SEC Regulation S-X Rule 3-05
- Create dynamic consolidation schedules
- Prepare footnotes related to the implementation of new accounting standards for revenue (ASC 606 / IFRS 15) and leases (ASC 842 / IFRS 16)
- Complete reporting checklists
- Assist with drafting management discussion and analyiss (MD&A)
Revenue Recognition
- Assess impact of adopting ASC 606 / IFRS 15 on financial statements
- Develop accounting policies related to revenue recognition
- Prepare technical accounting white papers covering adoption of ASC 606 / IFRS 15
- Implement new revenue recognition policies
Business Combinations
- Draft technical white papers covering the proper accounting for business combinations
- Perform significance tests to determine if acquisitions require additional audit procedures and reporting disclosures under SEC Regulation S-X Rule 3-05
- Prepare initial journal entries
- Create dynamic consolidation schedules
- Draft financial statement disclosures
- Prepare proforma financial statements
- Perform purchase price allocations
Debt and Equity
- Analyze terms of debt and equity issuances for embedded derivatives
- Draft technical white papers covering the proper accounting treatment for complex debt and equity
  Assess classification of debt vs. equity
- Draft technical white papers covering the proper accounting treatment for debt modifications or extinguishment
- Prepare calculations for stock based compensation
- Draft financial statement disclosures related to debt and equity
Leases
- Implement new lease accounting standard (ASC 842)
- Draft technical white papers covering policies related to the adoption of ASC 842
- Draft financial statement disclosures related to leases
International Financial Reporting Standards (IFRS)
- Assess the impact of variances between U.S. GAAP and IFRS on financial statements
- Manage conversion process
- Determine required financial and non-financial disclosures
- Prepare financial statements and provide audit support
Inventory
- Prepare inventory rollback to support inventory value in prior periods
- Perform inventory costing analysis
- Assess the need for an inventory reserve and draft an inventory reserve policy
Capitalized Software
- Assess whether the costs related to internally developed software meet the criteria for capitalization
- Prepare technical white paper covering the capitalization of internally-developed software and related journal entries
Variable Interest Entities (VIE’s)
- Evaluate arrangements with related party and determine if Variable Interest Entity (VIE) guidance applies to your company
- Prepare technical white paper covering VIE status
Impairment
- Prepare technical white papers covering analysis of goodwill impairment
- Prepare white papers covering considerations of a reserve for obsolete inventory

Navigate complex accounting with ease – Contact us for bespoke solutions and expert advice.

Streamlined Audit Readiness: Leveraging Public Accounting Expertise for Timely, Comprehensive Deliverables

Navigate complex accounting with ease – Contact us for bespoke solutions and expert advice.

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