Tom Van Lenten, CPA, CFO Consulting Partners LLC In mid-2016 the FASB issued its long-awaited standard on accounting for credit losses (ASU 2016-13). The new standard adds to US GAAP an impairment model known as the current expected credit loss model or CECL. In a shift from current practice the CECL model is based on… Continue reading The CECL Approach, 1 of 3
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The CECL Approach, 1 of 3
Tom Van Lenten, CPA, CFO Consulting Partners LLC In mid-2016 the FASB issued its long-awaited standard on accounting for credit losses (ASU 2016-13). The new standard adds to US GAAP an impairment model known as the current expected credit loss model or CECL. In a shift from current practice the CECL model is based on… Continue reading The CECL Approach, 1 of 3
Newsletter – February 2017
Quality Assurance – Important? What is the Problem? Many firms, particularly smaller ones, have problems with controls or Quality Assurance (“QA”) over the “downstream” preparation of financial statements, footnotes and MD&A. Typically, “upstream” processes like AP, Cash, Journal Entries, etc. are strictly controlled, but limited staff and insufficient planning can lead to downstream QA issues.… Continue reading Newsletter – February 2017
Newsletter – February 2017
Quality Assurance – Important? What is the Problem? Many firms, particularly smaller ones, have problems with controls or Quality Assurance (“QA”) over the “downstream” preparation of financial statements, footnotes and MD&A. Typically, “upstream” processes like AP, Cash, Journal Entries, etc. are strictly controlled, but limited staff and insufficient planning can lead to downstream QA issues.… Continue reading Newsletter – February 2017
Industry: Manufacturing/ Distribution/ Consumer Products
Type of Service: Planning & Control, Entrepreneurial, M&A/ Liquidity Event
Engaged to produce a forecast and provide financial leadership for an entrepreneurial consumer product company to raise equity capital . We worked closely with an investment banker and company executives, and is in discussion with various equity providers.
Industry: Manufacturing/ Distribution/ Consumer Products
Type of Service: Technical Accounting, Pre-audit
Engaged to produce global consolidated financial statements for chemical manufacturing company doing business in the US, Europe and middle-east. The consolidated statements allowed the audit to be successfully completed.