It's been a while since we last updated you on our Conexus Advisors practice, which has been growing and extremely busy. We want to share some of our recent engagement successes.
Revenue Recognition for a Rapidly Growing Hi-Tech Company
We were initially brought on to automate the month-end close process for a rapidly expanding company generating $100 million in revenue, which is at the forefront of creating a network of interconnected devices. Additionally, the CFO requested our assistance in reviewing and documenting best practices for revenue recognition (ASC 606) and lease accounting (ASC 842) for auditor review.
Process Transformation for a Global Medical Device Manufacturer
We collaborated with a leading medical device manufacturer to revamp their accounting processes and implement industry best practices. Our efforts streamlined financial operations, improved reporting accuracy, and optimized internal controls, ultimately enhancing decision-making and driving efficiency within their finance function.
Accounting Remediation Project for a Construction Services Company
We assisted a major construction services firm in addressing a significant issue within their procure-to-pay accounting cycle. Our team conducted a comprehensive review of over 5,000 transactions to ensure accuracy and adherence to internal controls. By identifying discrepancies and making necessary corrections, we not only resolved immediate concerns but also fortified the company’s foundation for ongoing transaction management, thereby reducing future risks and enhancing financial integrity.
Seamless Integration for a Multi-Unit Healthcare Company
We partnered with a multi-unit healthcare organization to integrate several newly acquired entities into their existing operations. By standardizing processes and aligning key financial systems, we facilitated a smooth transition while ensuring compliance with industry regulations. Our focus on unifying accounting practices and improving data flow empowered the company to manage its growing operations more effectively.
Comprehensive State & Local Tax (SALT) Review for a Multi-Unit Home Care Company
We performed a thorough review of each entity’s state and local tax filings and procedures to ensure compliance with Nexus reporting requirements. This involved registering and reporting for new states as necessary. Where discrepancies were identified, we amended prior returns to ensure full compliance with tax obligations. We also prepared and submitted voluntary disclosure applications, assisting the company in resolving past non-compliance with minimized penalties and filing amended returns to recover refunds from previous overpayments.
As the year-end crunch and audit time is approaching, please let us know how we can assist you.
Contact us at info@conexusrecruiting.com for more information.
