Financial Reporting

A D V I S O R S

100 No. LaSalle Street
Suite 2215
Chicago, IL 60602
ph: 312-345-9101
fax: 312-345-9110
admin@finra.com

Accounting Advisory Services

Accounting for complex transactions

Insight in applying accounting principles to specific transactions - - Today's complex business environment is reflected in today's complex accounting principles. When you add these complexities to the accelerating pace of business and the market's heightened interest in accounting, the challenge of "getting it right" becomes almost herculean. Whether you are dealing with an unusual transaction for the first time or a familiar transaction for which accounting literature has changed, having an expert to bounce ideas off of on a real-time basis reduces the risk of error. Our professionals have decades of experience dealing with tough issues. We can serve as a sounding board for your preliminary analysis, help identify the relevant issues and questions, assist in evaluating the appropriate accounting, comment on the documentation of your conclusions, and assess the quality of the company's proposed disclosures. Call on us to get our insight on the questions to ask and the alternatives to consider.

Expertise in researching relevant accounting principles - - Finding the relevant accounting principles for complex transactions is difficult for even the most experienced accountant. Frequently, the transaction is not specifically addressed in the literature and can be researched only by analogy to other similar (or sometimes dissimilar) transactions. The professionals at Financial Reporting Advisors (FRA) have spent over 50 collective years closely following the development of technical accounting guidance, authoring interpretive guidance, and advising on the nuances of accounting for a multitude of complex transactions. Our knowledge of the literature - what it says and where to find it - is unmatched. Tap into our expertise to help ensure that you have considered all the relevant accounting literature.

Objectivity in evaluating alternative accounting policies and practices - - The accounting for complex business transactions may be examined after-the-fact by others - new management, a potential acquirer, members of the audit committee, new independent auditors, or regulators. In addition to asking about the company's historical accounting policies and practices, these third parties may want to understand the pros and cons of other acceptable accounting methods. The professionals at FRA can identify and evaluate alternative accounting practices with consummate objectivity. Talk to us when you need a neutral, balanced assessment of the accounting for complex transactions.

Analysis of external reporting

Skill in assessing the quality of disclosures - - Audit committees, investors, analysts, rating agencies, regulators and others are placing increased emphasis on the transparency and clarity of a company's financial reporting. But evaluating the quality of financial disclosures requires more than the completion of a disclosure checklist. The professionals at FRA bring decades of experience and in-depth knowledge to their reading of a company's financial statements, notes, schedules, management discussion and analysis, and related disclosures. Contact us if you are interested in getting a fresh, highly skilled "check up" of the quality of your company's quarterly and annual financial reporting.

Audit committee support

Assistance in understanding complex accounting issues - - The responsibilities and expectations of audit committees have never been greater. The same complexities and changes that challenge management, accountants, and auditors also confront audit committee members. Knowing what questions to ask and what answers to accept requires that audit committee members invest in their financial literacy and, on occasion, obtain input from highly skilled, plain-speaking advisors. Our seasoned professionals take pride in their ability to simplify the complex and explain issues in plain English. We can educate audit committee members on emerging financial reporting topics, explain the pros and cons of alternative accounting practices for specific transactions, supplement the committee's review of the company's external financial reporting, or advise the committee on the merits or shortcomings of the company's accounting practices. Ask for our assistance when the audit committee you serve on faces challenging financial reporting issues.

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100 No. LaSalle Street
Suite 2215
Chicago, IL 60602
ph: 312-345-9101
fax: 312-345-9110
admin@finra.com