Client Profile
| Industry: | Online Specialty | | Entity Type: | Corporation | | Ownership Structure: | Public | | Geographic Footprint: | United States | | Annual Revenue: | $257 Million | | Number of Employees: | 300+ | |
Issue
A public company operating as an online retailer of specialty pet medications and supplies needed technical accounting assistance, both with SEC reporting and the transition to and configuration of Workiva, a document and data collaboration platform.
Solution
Our team partnered with the client and with Workiva to perform a full implementation and setup of the client’s 10-Q, 10-K, and 8-K. We provided comprehensive training on best practices when using Workiva and addressed several technical accounting issues, which ensured that the client could experience a more efficient audit. We also worked with the client to give additional technical accounting support in areas like revenue recognition, business combinations, earnings per share (EPS), variable interest entities (VIEs), and joint ventures. Additionally, we provided operational support for stock compensation and EPS calculations. Direct financial support also consisted of drafting notes and tables for the 10-K and 10-Qs.
Outcome
The client was able to self-file their SEC reports using Workiva, saving time and money and building efficiency into future processes. The memos that were provided generated very few questions from auditors, which resulted in a streamlined audit process.
Copyright © 2023, CBIZ, Inc. All rights reserved.