CFOx was recently engaged by a Colorado-based Private Equity firm to assist with their newly established HVAC services platform. Post-acquisition, the Florida-based company needed an Interim CFO to improve its accounting processes, coordinate the Opening Balance Sheet, and develop financial reporting.
The CFO Services team first focused its attention on accounting processes and procedures. The HVAC company needed to convert from modified cash-basis accounting to accrual-basis accounting. The CFOx team developed new processes to ensure revenue and expenses were captured on an accrual basis going forward. Various balance sheet and accrual schedules were created to ensure supporting information and reconciliations are performed monthly.
Our team leveraged these schedules to coordinate the Opening Balance Sheet with the third-party valuation firm and finalize the Closing Statement. The team also assisted with the final post-close Net Working Capital True Up.
Lastly, the team developed a robust monthly financial reporting package for investor and lender reporting requirements.
CFO Services Provided:
- Accounting Integration & Transition
- Interim CFO
- Opening Balance Sheet
- Financial Reporting & Analysis
If you would like to learn more about our Interim CFO and Transition services, please reach out via email ([email protected]) or schedule a call directly on our Contact Us page.
