Excellence in Order-to-Cash processes extends beyond simplification and efficiency improvements to actual digitalization.
Our client—a large international utility company, acting to accelerate the transition to a carbon-neutral world for a positive impact on people and planet – made an urgent call to us two days before Christmas. They were facing a fast-approaching financial reporting deadline over the Christmas holidays that required unique technical accounting expertise.
When it comes to the new lease accounting standard, across all industries, embedded leases have proven to be complex. EXAMPLE: Consider a standard product supply agreement. This type of contract might not seem like it contains a lease, but it may include an embedded lease if the purchaser has control over most of the services output.
With the new Lease Accounting Standard (ASC 842 Leases), all long-term operating leases need to be capitalized on the balance sheet, and financial disclosure requirements have been expanded.
We routinely introduce our clients to new technologies that supplement or imitate our high standards as an organization with over two decades of experience in internal controls and compliance.
Accounting is an essential component of any business, and your financial specialists are invaluable members of your team. Your accountants and financial professionals’ time is extremely valuable because of the expertise they bring to the table, and wasting it on manual, repetitive tasks is costly.