Case Study
Financial Reporting + Accounting Function Enhancement
- Matthew Edwards
Manufacturing
INDUSTRY
65
EMPLOYEES
$19M
ANNUAL REVENUE
Background
Our client recently exited bankruptcy and had not reported accrual basis financials to the private equity sponsors since exit. The PE lamented insufficient visibility, reporting credibility, and analysis.
Objective
- Assess ability to develop 3 statement reporting under US GAAP
- Implement 3 statement monthly close and reporting process
- Coordinate implementation of 3 statement forecast and planning
- Perform cost study to identify true cost of goods sold
Solution
- Implemented April – August close to report cycle
- Prepared cash reporting to better analyze performance vs forecast
- Implemented cash forecast
IMPLEMENTED A CONTROLLED MONTHLY CLOSE-TO-REPORT CYCLE, DAILY SALES REPORTING, 13-WEEK CASH FORECAST, AND MONTHLY RECURRING BOARD REPORTING.
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