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.
Sirius Solutions has been providing our clients with subject-matter experts, thinkers, consultants, strategists, technologists, doers, innovators, advisors, and much more for more than two decades. We understand how our client’s work. We are adept at managing cash for our clients, transforming finance departments, resolving audit, SOX, or compliance issues, assisting with IPOs, and reworking vendor management. Through our financial advising services, we have successfully completed tens of thousands of revenue accounting projects and assisted businesses in becoming more profitable by reducing expenses and identifying new avenues for development and income.
Environmental, social, and governance (ESG) goals are a necessary part of a company’s initiative toward sustainability and equality. ESG is gaining traction, with 91% of business leaders admitting that they think they are responsible for addressing ESG issues. These issues include carbon emissions, climate change, anti-corruption, water use, community development, and human rights. Changes in behavior and society are driven by incentives that are primarily financial, and this is why sustainable finance is critical to tackling these issues. Companies can incentivize customers to make eco-friendly decisions and invest in companies that are on a journey toward Net-Zero (or are already there). This is all a part of their ESG framework, which tracks, plans, and reports on an organization’s actions.