Project: Technical Accounting Consulting
A company needed assistance with correcting accounting for a failed sale-leaseback transaction.
Approach & Results:
- The Company had incorrectly accounted for a sale and leaseback of a real estate transaction in 2006. The error was identified in the 2019 year-end audit work as the client was preparing for a possible IPO.
- We were engaged to provide technical support to address the correction of the entry and to document the client’s accounting position.
- We also provided disclosure language for the financials.