Finance support for a $40MM Digital Marketing Company
Situation
Our client, a national digital marketing company serving the healthcare industry, acquired 2 businesses within a 3 month period and needed to integrate them into its operations and improve the automated reporting available from Intacct.
Solutions
- Brought the newly acquired companies into compliance with ASC 606 revenue standard
- Created the purchase accounting entries and opening balance sheet audit support needed to record the transaction.
- Calculated net working capital true-up amount
- Integrated the acquired companies into Intacct, converted historical transactional data from QB and loaded into Intacct, and formatted existing reports in Intacct
- Performed interim controller services for newly acquired entities until the accounting could be migrated into the platform company’s accounting department
- Wrote new GAAP balance sheets, income statements, management-level income statements, and project profitability reports
- Assisted with monthly reporting package and quarterly covenant calculations and compliance certificate
- Improved company’s reporting template by migrating reports into Intacct
Built billable rates for employees and produced historical cost reports
Results
The two new acquisitions were integrated successfully, and the CFO is now equipped with daily reports to help manage project profitability. Our support helped our client grow from ~$40 million in revenue to over $70 million in revenue and integrate the accounting into one ERP system. Our services started shortly before the first acquisition closed and ended 8 months later.
Acquisition On-boarding and Exit SupportB2B Services
