Case Study
Purchase Price Accounting
- Adam Tauzel
Manufacturing
INDUSTRY
75
EMPLOYEES
$75M
ANNUAL REVENUE
Background
A private equity firm recently acquired a company and required purchase price accounting to prepare the new opening balance sheet.
Objective
- Obtain all transaction related financial and legal documentation
- Perform a step-by-step transaction accounting to prepare the opening balance sheet with new debt and equity, and establish any goodwill as a part of the transaction
- Prepare the corresponding journal entries to be entered into the accounting solution to affect the purchase
- Provide sufficient supporting documentation and be available to respond to questions that may arise during an audit
Solution
- S+H Consulting’s team worked diligently with the private equity firm and the company to ensure proper funds flow
- Provided a detailed workbook to follow the various steps of the transaction and critical impacts to the financials
- Walked the accounting team through the journal entries and ensured they were correctly entered
- Facilitated audit support and passed review by the auditors
Provided an easily digestible Opening Balance Sheet workbook and journal entries that passed audit review.
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