Following a recent add-on acquisition, CFOx was engaged for a second time by an existing client to perform accounting transition services. The client, a private equity-backed HVAC platform, acquired an established, family-owned HVAC and generator company in the Northeast.
Accounting Transition Services
The CFO Services team was engaged by the client to perform a post-acquisition transition of the acquiree’s key accounting and business functions, accounting software, and systems. The scope of the engagement included:
- Coordinate Opening Balance Sheet entries.
- Transition of the Chart of Accounts to that of the parent company.
- Develop processes, calculators, and schedules for various accruals.
- Implement proper accounting policies and procedures, including deferred revenue
- Develop a monthly financial reporting package.
Following the roadmap of CFOx’s first engagement led to a successful accounting transition to the parent company. Our client appreciated being able to rely on continuity across the CFOx team resulting in consistent, high-quality deliverables and efficiencies gained by leveraging experience gained during the initial transition services engagement.
CFO Services Provided:
- Accounting Integration & Transition
- Opening Balance Sheet
- Processes & Procedures
- Financial Reporting