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Our technical accounting and complex transaction specialists supplement your in-house expertise so you can address evolving accounting standards and stand up to investor, auditor and SEC analysis.
In a post-ASC 606 environment, Opportune partners with its clients to implement efficient and practical accounting solutions for complex, structured revenue contracts and new or evolving revenue streams. We leverage our depth of experience from the public and private company ASC 606 implementation processes across industries to support companies with the following workstreams:
Facilitate cross-functional discussions to understand the economics of a new revenue contract or revenue stream
Perform technical accounting analysis and documentation pursuant to ASC 606
Advise on ASC 606 disclosure requirements
Develop accounting policies and related procedures
ASC 842 requires the recognition of long-term operating and finance leases on a company’s balance sheet, which has resulted in an estimated $1.5 to $2 trillion of leased assets and liabilities being recorded on public company balance sheets. The impact of adoption is often broad-reaching within an organization and requires a cross-functional approach to ensure a successful implementation and facilitate ongoing compliance with ASC 842. Leverage Opportune’s scalable, solutions-oriented lease accounting process and breadth of experience from public and private company ASC 842 implementations for support with the following workstreams:
Perform lease discovery procedures on client data to identify new lease contracts on a quarterly or annual basis
Analyze and document newly executed lease contracts, service contracts with potential embedded leases, and new at-risk asset classes pursuant to ASC 842
Perform Incremental Borrowing Rate (IBR) assessments
Advise on ASC 842 disclosure requirements
Assent Leases software solution
Business combination or asset acquisition evaluation
Pro forma and 3-05 financial statement requirements
Push-down accounting election and presentation
Determination of the accounting acquirer
Accounting for contractual assets and liabilities, including off-market agreements
Evaluation of contractual agreements to determine classification as consideration, asset acquired, or liabilities assumed or separate accounting
Accounting and valuation of contingent consideration
Review of proposed business structures
Identification of VIEs and determination of primary beneficiary
Consolidations
Identification and analysis of segments
SPACs, or so-called “blank check companies”, are an alternative and expedient route to going public, but the financial reporting, tax, and governance aspects of the SPAC’s future investments must be considered.
When you choose Opportune, you gain access to seasoned professionals who not only listen to your needs, but who will work hand in hand with you to achieve established goals. With a sense of urgency and a can-do mindset, we focus on taking the steps necessary to create a higher impact and achieve maximum results for your organization.
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