zoominfo

EOY Firedrill: How We Helped a Large Utility Company Report $700M in Lease Liability in Just 11 Days

Success Story Images 1600 × 600 px 10

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.

Business Need
At-A-Glance

Two days before Christmas, our client called urgently. They needed technical accounting skills to meet a Christmas financial reporting deadline by January 3rd for their results announcement on January 6th.

Impactful
Realized Results

By quickly establishing a framework to analyze the client data and information, we were able to deliver the reporting required and remediate the issue quickly and ahead of schedule with $700M in liability reported in 11 days.

URGENCY

2 DAYS BEFORE XMAS

LIABILITY REPORTED

$700MM

TURNAROUND TIME

11 DAYS

Learn More

Read on for more information on how we successfully delivered a positive outcome for our client.

The Challenge

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. This had become a challenge for senior management and time was of the essence. They had $700M worth of lease liability that needed to be accurately reported by January 3rd, in time for their earnings release on Jan 6th.

Focused on Sirius Solutions’ value-based consulting approach and over two decades of expertise in technical accounting for large corporations, the client elected Sirius Solutions to deliver their reporting and beat the clock.

The Solution

Our Sirius Solutions’ Financial Operations Practice assembled a team of experts that was up and running within an hour. Our experts understood the unique implications of newly constructed assets on wind farms and their attributes. Plus, they knew the business and understood the stage of construction of the assets and the point in time in which the debt becomes triggered onto the balance sheet. Our innovative proprietary approach, combined with our specialized industry expertise, enabled us to develop a process in which we achieved swift and precise actionable data.

By quickly establishing a framework to analyze the client data and information, we were able to deliver the reporting required and remediate the issue quickly and ahead of schedule.

Share article on :

Facebook
Twitter
LinkedIn
Email