As businesses grow in size and complexity, the mission critical deliverables from your financial team grows as well. Turning Point’s expertise in complex accounting is available to support your team in an ongoing or project-by-project basis.

Common Challenges

Clients often engage Turning Point’s complex accounting team to help with one or more of the following issues:

Compliance issues

 

• SEC reporting     

• SEC Filing support    

• Sarbanes Oxley compliance

 

Event-driven challenges

 

• Preparation for company sale     

• Financial due diligence for acquisitions

• Litigation support    

• Bankruptcy or receivership support    

• Fraud detection

Solutions to Compliance Issues

Reporting results to the SEC is required for publicly-traded companies and those that plan to go public. However, it is also time and knowledge intensive. Technical standards are always changing. Staying current requires constant effort. The regulations are often difficult to interpret and not written in laymen’s terms. We eliminate all this pain. We translate these regulations and apply them to your business.

SEC Reporting

For companies that need to report to the SEC, but do not want to incur the overhead of maintaining this expertise in-house, Turning Point provides comprehensive SEC filings, including preparing and submitting all required filings including Forms 8-K, 10-K, 10-Q and associated SEC comment letters. The Turning Point team is expert at delivering these products, and stays up-to-date on the latest regulations and best practices.

In many cases, we will support a talented CFO who is a great fit for the business but lacks extended experience as the CFO of a publicly-traded company or for whom it is not efficient to stay current with the latest regulations. We work closely alongside them and help them succeed. We provide a trusted advisor or “second set of eyes”.

SEC Filing Support

Many businesses or large accounting firms need occasional assistance, either due to the complexity of the problem or simply a lack of staff availabiltity. At Turning Point we support our clients with abilities in the most complex areas, including revenue recognition, accounting for stock-based compensation, lease accounting, accounting for complex financings and accounting for business combinations & reverse mergers.

Sarbanes Oxley compliance and implementation

The Sarbanes-Oxley act of 2002 has brought much confusion and many headaches to business operators. Deciding between the high degree of complexity involved in meeting compliance with in-house staff or paying a high priced consulting firm is the choice businesses are left with. Turning Point offers solutions that allow the client to better manage their costs. We use proprietary programs to “piece meal” the work. This allows the client to manage as little, or as much, of the compliance efforts as they want, or can afford. We can also help train the staff to implement processes to provide easier compliance in the future. Clients achieve an SEC compliant business at a manageable price.

Solutions to Event-driven Issues

Litigation and Expert Witness

Conflicts relating to securities law are becoming increasingly prevalent and complex. Accurate and clearly articulated data about the financial aspects of a case is imperative to success. Turning Point consultants have been engaged in numerous complex litigation and expert witness roles. As with our business clients, we focus on ensuring we have accurate data, and then drawing the insights out of the numbers. Our team brings a breadth of knowledge and the ability to communicate persuasive analysis.

Banks and Receivership Consulting

During these difficult times, all too many businesses have gotten into debt that is difficult to emerge from. Lenders are forced to place those businesses in receivership to protect their investments. Turning Point often partners with banks and court appointed receivers to make the changes required in operations and accounting. Turning Point has established a reputation for helping lenders and investors receive far more money back that what was originally expected.

Merger and Acquisition Consulting

There is never a time more critical for strong business advisors than when considering the sale, purchase or merger of another company. Turning Point provides a full range of Merger & Acquisition (M&A) advisory services to businesses. We have proven successes with publicly traded as well as closely held businesses and have represented both the buyer and the seller in many transactions. Turning Point has members on staff with over 25 years experience in investment banking and working with companies to create and fulfill strategic goals.

Comprehensive and precise due diligence is paramount when looking to acquire or merge with another company. The ability to identify and prepare our clients for pitfalls before they happen minimizes risk and maximizes return on investment.

It is never too early to begin preparation when considering the sale of a business. There is a direct correlation between the sale price of a business and the quality of its financial statements. Turning Point has proven procedures that work for the client to maximize sale price.

Forensic accounting

Unfortunately, fraudulent activities do occur. When proper controls are not in place, it is common for theft to continue for years before it is discovered. As an investor or operator of a business, it is imperative to have someone on your side who is able to see through the fraudulent numbers and track down illegal activities.

The Turning Point team has experience unraveling fraudulent financial activities, including uncovering shadow bank accounts, false invoices and more. After pinpointing the problem, we reconstruct accurate data and can assist with a restoration plan that gets the business back on track, with controls to prevent these problems in the future.