Technical Accounting Assessment and Research – Large Pharmaceuticals Organization
With a lack of internal resources that had technical accounting expertise, a pharmaceuticals client needed external assistance in creation of a technical accounting memorandum for external auditors. DayBlink was able to provide the necessary expertise and research to prepare the memorandum and defend our clients position with external auditors, we also prepared financial statement disclosures for all relevant transactions.
Assessed Key Project Details:
Our client was entering into multiple convertible debt arrangements, with stock options and warrants being issued in connection with said agreements. The client needed a technical accounting memorandum in order to defend their position with external auditors. Due to a lack of internal technical accounting resources, our client’s were unable to complete this on their own and entrusted DayBlink to accomplish the task.
Delivered a Best In Class Solution:
DayBlink provided immediate assistance by performing a detailed review of all agreement terms calculated. We also completed independent research from the Financial Accounting Standards Board (FASB) to ensure proper accounting for all transactions and then calculated proper journal entries for our client’s accounting system.
Provided Unmistakable Business Results:
DayBlink created a detailed technical accounting memorandum and represented our client to external auditors, successfully defending their position. In addition, we prepared and delivered financial statement disclosures for relevant transactions allowing our client to provide any documentation necessary in the future.