Provided proper education and training of internal staff. Our team provided comprehensive, educational training to their internal accounting department to better understand our process and why specific reporting was required to improve their finance and accounting function. We utilized their internal team by placing people into the correct roles and responsibilities they were qualified to perform.
Ensured the company was GAAP compliant and moved to a monthly close process. Our team developed and implemented new processes to ensure the business was GAAP (Generally Accepted Accounting Principles) compliant which is standard practice. We also moved the client to a monthly close process and developed more timely and accurate reporting while leveraging their internal team to stay cost efficient. Without having these value-add process in place, the business could have potentially been sold for a great discount during sales negotiation process.
Managed the carve-out process along with the sales and negotiation of the business. Our team had to carve out and establish “one entity” for the division that the buyer was interested in purchasing. We used Pro-forma financial statements in addition to GAAP to provide a better understanding of the new entity’s operating results. After understanding the new entities operating results and value, we managed the sales and negotiation process for the CEO when being acquired by a 3rd party. This was a key part of the sales process to establish comfort surrounding numbers and operational processes.
After providing accounting and financial support for the company for over 2 years, a strong sense of trust developed around the financial numbers being right before the sales initiation process began. Our ongoing involvement allowed the sales process to run smoothly due to the detailed reporting process we continued to provide each month.
The company successfully sold for over $1 million within 5 months of initial discussion which was in line with management’s expectations. Our team assisted with the transition of the accounting process to the new company to complete the transaction. The original owner was very pleased and would highly recommend our services.
The Persuader Version 2.4