Category: Newsletters

Prepare Now for Revenue Recognition Implementation In May, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, (Topic 606). The Update takes effect essentially in 2017 and establishes a comprehensive revenue recognition standard for almost all of the various industries. Prior to the promulgation of this… Continue reading Newsletter – August 2014

It Pays to Do It Right the First Time By Art Finnel, Head of Life Sciences Practice Prior to joining CFO Consulting Partners, I held a CFO position with a company that was planning to go public and hired a new accounting firm for the audit. The company had planned for this possibility five years… Continue reading Newsletter – May 2014

CFO Consulting Partners’ pre-audit services helps public and private companies produce workpapers and a full set of GAAP financial statements, including footnotes, for review by its independent auditors. Workpapers are cross-referenced and references are made to supporting documentation. For public companies, CFO Consulting Partners offers SEC report preparation services (i.e., 10-Qs and 10-Ks, including MD&As).… Continue reading Update on CFO Consulting Partners’ Pre-Audit Services

Compromise for Lease Accounting Overhaul Has Been Rejected by the Leasing Industry Accountants and Analysts Since 2006, the U.S. Financial Accounting Standards Board and the IASB have been working on a lease accounting overhaul. This effort has been spurred by investor complaints that huge off-balance sheet leases can blur a company’s true financial obligations. On… Continue reading Newsletter – February 2014

Private Equity Case Study Background: A private equity firm desired to sell one of its portfolio companies. The company, with sales of $75 million, was a leader in the fashion industry. The incumbent Chief Financial Officer and Controller left at the start of the sale process. Problem: The company could not hire another full-time Chief… Continue reading Newsletter – October 2013

SEC Case Study #1 Background: A $100 million publicly-held service Company had not filed its SEC reports (10-Ks, 10-Qs) on a timely basis. The CFOs attention had been focused on non-financial reporting operational matters. The Issue: The Company, wishing to bring its reporting current, engaged CFO Consulting Partners LLC to prepare the financial sections of… Continue reading Newsletter – July 2013