AAFCPAs provides advanced financial management assistance on complex technical accounting issues, bringing deep, functional expertise with a holistic approach. We have significant experience advising clients on new or complex applications of accounting pronouncements from the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB). Since 1973, we have been helping our clients efficiently and effectively maintain compliance with accounting, financial, and regulatory changes.
AAFCPAs Technical Accounting Advisory Solutions Include:
Complex Business Transactions
IFRS Conversion
Audit Preparation
Other Nonprofit Advisory
Implementation of New Accounting Standards
Understanding and implementing accounting standards can be complex, time-consuming, and often require requisite skills and expertise not found on your internal finance team. AAFCPAs provides financial management assistance on complex technical accounting issues, allowing clients to confidently apply the standards with greater efficiency and ease.
- Current Expected Credit Loss Impairment (CECL) Model – AAFCPAs offers advanced CECL modeling, validation, implementation and methodology expertise.
- Business Process Improvement: Implementation of new ASUs often requires changes to business processes combined with analyses of systems capabilities. AAFCPAs’ integrated Business Process & IT Consulting practice has a stellar record of implementing incremental value-added change, with the ability to track results and measure success, and to align with business goals and process performance objectives.
Assistance With Complex Transactions
AAFCPAs’ Business Transaction Advisory practice assists clients with complex business transactions, including business mergers, acquisitions, divestitures, IPOs, and debt or equity raising.
- Accounting for business combinations and purchase price allocations
- Financial due diligence or agreed upon procedures
- IT and operations due diligence
- Evaluating tax exposures
- Working capital calculations
- Designing controls and gap analysis
Conversion of US GAAP Financial Statements to IFRS
Converting US GAAP Financial Statements to IFRS can be a significant finance transformational event for a company, and AAFCPAs provides guidance on the aspects executives need to address when converting.
- Identification of accounting differences
- Application of IFRS 1, first-time adoption of IFRS
Audit Preparation
For non-audit clients, AAFCPAs serves as an extension of your finance team, providing hands-on assistance in preparing for your financial statement and employee benefit plan audits, and interacting with your auditor throughout the process as needed. AAFCPAs’ Managed Accounting Solutions practice provides audit prep services delivered by senior-level CPA firm auditors, as well as CFOs and Controllers in Residence who understand your perspective. Solutions may include:
- Audit readiness review
- Selection of audit firm
- Communication and planning with the audit firm
- Account reconciliation
- Preparation of audit schedules
- Technical research, and writing technical memos
- Preparation of checklists
- Financial statement preparation
- Preparation of financial sections of SEC filings
- Interfacing with the auditors
AAFCPAs works in tandem with your current CPA firm as needed to ensure auditor independence and objectivity, as well as adequate risk management, internal controls, and sound governance.
Other Nonprofit Advisory
For nonprofits, AAFCPAs offers specialized guidance on technical accounting issues:
- Due diligence and agreed upon procedures relating to mergers and acquisitions, as well as guidance on accounting for the transaction
- Consultations on long-term capital needs and financing options to consider
- Board of Director training on interpreting financial statements and governance
- Guidance on the unique restrictions and compliance aspects of federal awards
Talk to Our Team
What Our Clients Say
“Our audit partner provided proactive guidance during changes in revenue recognition/606 new standards. For example, a game plan was constructed immediately in 2016, our contracts were analyzed, leg work was completed, and the impact was fully anticipated so we had ample time to put the appropriate infrastructure in place before January 2019.”
Joseph DiGiantommaso, VP of Finance, Vista Higher Learning, Inc.
“We have easy access & flexibility with our AAFCPAs Partner, who is a knowledgeable and trusted sounding board. This was especially valuable when tackling our 606 implementation. The team spent the time necessary to guide us through the process. We appreciate that they are here, flexible and easy to access, so we can consult with them and execute quickly. Further, we reached out to AAFCPAs early on when considering our merger into global health innovation leader W2O. They were immediately available to talk us through the key considerations and served as a knowledgeable and trusted sounding board to ensure we had no missteps throughout the transaction process.”
Cindy Smith, Chief Financial Officer, Swoop
“I consider AAFCPAs much more than an auditor. They are a key business advisor, providing guidance on technical accounting issues as well as general business recommendations and insights. This has included operational and financial guidance on mergers, tax credit financing, and complex regulatory filings. Healthcare is far more complicated than it should be, and AAFCPAs helps us navigate that complexity.”
James (Jamie) Hazard, CFO, East Boston Neighborhood Health Center