RoseRyan introduces new Financial Checkup service

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Sarah Grolnic-McClurg
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RoseRyan introduces new Financial Checkup service

Rapid assessment identifies private companies’ accounting problems

Newark, Calif., Nov. 29, 2011—RoseRyan today launched the Financial Checkup, a top-to-bottom diagnostic review giving private companies a fast, easy and inexpensive way to avoid accounting pitfalls. The Silicon Valley–based consulting firm’s new flat-fee service provides a quick yet thorough assessment of accounting methods and practices so that companies can identify problems before they cause trouble.

The Financial Checkup is based on RoseRyan’s engagements with hundreds of clients since 1993 and draws on its work with fast-moving private companies and many of Silicon Valley’s best-known public companies. The high-level evaluation reviews a company’s accounting methods against a detailed list of issues and problems that the consulting firm commonly sees at private companies.

“This assessment quickly identifies areas that may be missing or are problems, and it provides general recommendations for fixing them,” says Kathy Ryan, RoseRyan CEO and CFO. “This is precisely what private companies need, because early detection means they’ll be ready for financing and they’ll avoid delayed audits and increased audit fees.” 

Proprietary checklist
For the new service, RoseRyan developed a proprietary checklist spanning individual account areas across the balance sheet and P&L. The Financial Checkup covers these major areas (and more):

  • Revenue: recognition, reserves, cutoffs
  • Cost of sales: recognition, reserves, overhead
  • Expense: software capitalization, lease expenses
  • Assets: cash, AR, inventory, fixed assets
  • Liabilities: AP, deferred revenue, leases, debt
  • Equity: stock, warrants, options
  • Operational practices: systems, policies

Although the Financial Checkup covers a vast amount of ground, it requires only a day’s worth of interviews with the client’s key finance staff. Clients need only supply basic financial information to their RoseRyan consultant.

Reporting
RoseRyan analyzes all findings and provides a summary of high-priority accounting problems and general recommendations for resolving them. The full report provides a more detailed analysis and findings, including recommended operational improvements. Clients can then act on the report’s recommendations at their own pace and comfort level.

Think “pre-audit” review
According to Chris Kondo, a RoseRyan senior consultant who helped design the new service, it serves as a broad “pre-audit” review. He notes that the Financial Checkup lets companies identify accounting issues that eventually would surface during audits.

Schedule your Financial Checkup
To schedule your company’s Financial Checkup, contact Maureen Ryan at 510.456.3056 x122 or mryan@roseryan.com.

To learn more, download the Financial Checkup fact sheet.

About RoseRyan
RoseRyan is a finance and accounting consulting firm that tackles critical assignments for companies at all stages, with particular expertise in high tech, life sciences and cleantech. The firm’s finance gurus serve as outsourced CFOs, prepare companies for IPOs and M&As, perform immaculate corporate governance work and are sought after for expert advice on emerging accounting challenges. The firm’s Silicon Valley roots go deep—RoseRyan has been getting high-flying companies’ financial houses in order since 1993—and clients benefit from a strong network of partners who can help their businesses grow. Recent and current clients include Actelion, CalCEF, Philips Lumileds, Netflix and NVIDIA. For more information, visit www.3rdarm-dev.com.

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