Technical Accounting Advisory

Enhance Financial Compliance with AAFCPAs’ Technical Accounting Advisory Solutions: New Accounting Standards, Complex Transactions, IFRS Conversion & Audit Preparation

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:

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’ Outsourced Accounting & Fractional CFO 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

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Contact AAFCPAs

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