Staying current with the ever changing financial reporting standards is very challenging. Whether you encounter a transaction and related financial reporting standard you have never dealt with or are trying to stay current with constantly evolving accounting standards, you might not have a particular required expertise in-house. Auditors can’t tell their clients how to account for transactions due to their stringent independence rules. Our goal is to help you resolve accounting and financial reporting issues for complex business transactions. We strive to clarify the relevant accounting standards. We not only to tell you how a transaction should be accounted for, but explain it clearly and understandably.
We first attack the problem by gaining a thorough understanding of the facts through reading applicable contracts and other documents and interviewing you. We then break down the accounting issues and thoroughly research applicable generally accepted accounting standards and other literature using sophisticated research tools. We support our analysis and conclusions by writing a comprehensive “white paper” memorandum which will provide the documentation you need not only to support your accounting and financial reporting records, but also will meet the strict documentation needs of your auditors. We ensure that the memo is prepared in sufficient detail to provide a clear understanding of the background facts, the accounting standards relied upon, the analysis performed, and the conclusions reached. We stay in touch with you along the way. Throughout the process, we will answer questions from you and your auditors as necessary so that all parties reach a mutual understanding and consensus. We remain available to you year-round. If you just need to bounce ideas of someone, we are here always to help.
A sample of recent topics researched for our clients include:
- Revenue Recognition
- Stock-Based Compensation
- Business Combinations
- Consolidation and Variable Interest Entities
- Equity Financings and Warrants
- Convertible Instruments
- Debt Modifications and Extinguishments
- Impairments
- Embedded Derivatives
- Foreign Currency Transactions
