Purchase Accounting, Lease Implementation, and ERP Integration
Background
An entertainment promotion and production company engaged Arcus Advisors to focus on integration and certain technical initiatives including: purchase accounting, lease accounting implementation and integration of multiple acquired entities into the parent company’s ERP.
INDUSTRY
Entertainment
OWNERSHIP
Private Equity Backed
DURATION
12 months + ongoing support
Purchase Accounting, Lease Implementation, and ERP Integration
Background
An entertainment promotion and production company engaged Arcus Advisors to focus on integration and certain technical initiatives including: purchase accounting, lease accounting implementation and integration of multiple acquired entities into the parent company’s ERP.
INDUSTRY
Entertainment
OWNERSHIP
Private Equity Backed
DURATION
12 months + ongoing support
ENGAGEMENT
Controllership
Technical Accounting
Process Development
Audit Readiness
PROCESSES ASSESSED
Controllership
Accounting Transformation
Process Development
Financial Analysis
Organizational Optimization
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
- Controllership
- Accounting Transformation
- Process Development
- Financial Analysis
- Organizational Optimization
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
CURRENT STATE ASSESSMENT
- Fast paced growth through multiple acquisitions
- Opening Balance Sheet transactions not yet recorded
- ASC 842 Lease Accounting not yet implemented
- Delayed prior-year audit due to insufficient records and procedures
- Cash-basis entities
- Multiplier no accounting ERPs
- No accounting policies for local entity integration
- No designated audit liaison to manage the audit process
- Multiple ERPs
- Incomplete transaction support
- Understaffed accounting resources
- Inefficient accounting organizational structure
- No existing Corporate policies or procedures
- No change management
