Controllership, Process Optimization, and Acquisition Integration
Background
Arcus Advisors was engaged for an audit readiness project. This included conversion to accrual-basis accounting, optimizing month-end close, and developing a process for recording revenue that was subsequently integrated at each of its newly-acquired entities. The project also required system integration and process design in order to ensure accurate and reliable financial reporting.
INDUSTRY
Entertainment
OWNERSHIP
Private Equity Backed
DURATION
8 months + ongoing support
Controllership, Process Optimization, and Acquisition Integration
Background
Arcus Advisors was engaged for an audit readiness project. This included conversion to accrual-basis accounting, optimizing month-end close, and developing a process for recording revenue that was subsequently integrated at each of its newly-acquired entities. The project also required system integration and process design in order to ensure accurate and reliable financial reporting.
INDUSTRY
Entertainment
OWNERSHIP
Private Equity Backed
DURATION
8 months + ongoing support
ENGAGEMENT
Controllership
Accounting Transformation
Process Development
Financial Analysis
Organizational Optimization
PROCESSES ASSESSED
Revenue Recognition
Revenue Cycle Management
Month-end Close and Accruals
Reconciliations & Reporting
Personnel & Org Structure
TESTIMONIAL
“The Arcus Advisors team has done excellent work here. They were instrumental in getting us through two year-end audits, integrating and preparing the purchase accounting and business combination accounting for multiple acquired entities, and collaborated with the internal team on many process improvements. The entire team has been a pleasure to work with and we couldn’t be where we are today without having them in the right place at the right time. I look forward to using Arcus for future projects!”
– CFO
ENGAGEMENT
- Controllership
- Accounting Transformation
- Process Development
- Financial Analysis
- Organizational Optimization
PROCESSES ASSESSED
- Revenue Recognition
- Revenue Cycle Management
- Month-end Close and Accruals
- Reconciliations & Reporting
- Personnel & Org Structure
TESTIMONIAL
“The Arcus Advisors team has done excellent work here. They were instrumental in getting us through two year-end audits, integrating and preparing the purchase accounting and business combination accounting for multiple acquired entities, and collaborated with the internal team on many process improvements. The entire team has been a pleasure to work with and we couldn’t be where we are today without having them in the right place at the right time. I look forward to using Arcus for future projects!”
– CFO
CHALLENGES
- Cash-Basis Accounting
- Multiple ERPs, or no ERP
- Incomplete records
- Lack of a formal close process
- Operations-Accounting disconnect
- Inefficient or understaffed accounting organizational structure
- No account reconciliations or support for account balances
- No accounting policies for new entity integration
- No accounting analytics
- No revenue or cost driver analysis
- No consistent management KPIs
- ERP Integration
- No existing policies or procedures
- No change management
