An international public technology company wanted to spin off a subsidiary as a separate public company based in the U.S.
The transaction required a sure hand and just the right touch, starting with determining exactly which part of the business went with the new entity.
The new company needed GAAP-compliant statements created out of IFRS records.
The yearlong engagement involved three RoseRyan consultants closely working with the client’s director of finance operations, director of finance, controller, senior accounting manager and accounting manager.
Our team performed purchase accounting analysis, implemented technical standards such as FAS-123R, assisted with inventory variance capitalizations per FAS-151, plus identified and evaluated expenses related to the carve-out. And we helped the new company navigate an external audit.
The team also helped with consolidation of the company, financial statements and disclosures.
The RoseRyan team’s technical accounting savvy and collaborative approach bred confidence and saved time, allowing the client’s finance executives to focus on business operations.