Technical Accounting Consultation

  • Assisted a Fortune 1000 defense contractor with the evaluation and conversion of their existing revenue recognition methodology and processes to the requirements under Accounting Standards Codification (ASC) Topic 606 – Revenue from Contracts with Customers. We supported all phases of the implementation, which included: an initial evaluation and review of the contract population, the identification of key risk areas, and the calculation of the revenue impact of affected contracts. We also assisted with the development and implementation of new policies and procedures and the preparation of financial reporting disclosures.
  • Provided accounting support in relation to the spin-off and sale of a management and information technology consulting firm’s commercial business segment. Additionally, we provided technical accounting guidance and support related to the purchase accounting and complex equity structures and plans in connection with the sale of the parent company.
  • Evaluated proposed stock compensation programs and their contractual terms for a Fortune 500 company to determine and establish the initial accounting model for new stock option awards and exercises. In addition, we evaluated and advised the company on the government contract allowability and cost accounting for the stock awards based on the relevant government contract regulatory requirements.