Situation: A retailer with multiple locations experienced a disorganized transition from its previous CPA firm and needed accurate opening balances for its new accounting system. Solution: Our team reviewed the transferred information, established appropriate account balances, and prepared an opening balance sheet. Impact: The retailer gained a dependable foundation for ongoing reporting and managing more […]
Situation: A retailer with multiple locations and more than $1 million in monthly expenses needed a full year of accounting records cleaned up before the September 15 tax deadline. Solution: Our team reconciled cash and credit card activity, categorized transactions, reviewed inventory records, and established an ongoing accounting support process. Impact: The client met its […]
Situation: A retail client considering an acquisition needed to determine whether the seller’s reported earnings supported the proposed purchase price. Solution: Our team performed a quality of earnings analysis and identified a significant overstatement in the seller’s earnings. Impact: The findings supported a purchase price reduction that saved the client $80 million.
Situation: A rapidly growing online business was considering an initial public offering and needed to prepare its financial accounting practices for the process. Solution: Our team helped strengthen the company’s accounting policies and procedures in anticipation of the reporting requirements and scrutiny associated with going public. Impact: The company completed its IPO 18 months after […]
Situation: A retailer operating more than 100 stores across over 10 states faced tax audits and extensive compliance requirements with limited internal resources. Solution: Our team supported state audits, streamlined more than 400 annual sales tax filings, reviewed construction purchases for use tax, and identified available exemptions and credits. Impact: Our solutions reduced the client’s […]
Situation: A growing online retailer received notices about state sales tax filing requirements that its previous accountant had advised it to disregard. Solution: Our team analyzed where the business had verifiable sales tax obligations and completed voluntary disclosure agreements (VDA) or registrations in the applicable states. Impact: Because of the sales tax VDAs and registrations, […]
Situation: A retailer with multiple locations managed more than $1 million in monthly expenses without consistent accounting procedures. Expense categories, transaction documentation, and reconciliations varied across the business. Solution: Tronconi Segarra & Associates established a structured chart of accounts and documented procedures covering point-of-sale activity, cash management, expense tracking, and reconciliation. Impact: The retailer gained […]