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Success Story - Solving Accounting and Finance Issues

Providing quick solutions to financial reporting problems

Interim and project professionals you can rely on to get the job done

Companies do not always have the luxury of working on problems one at a time. This was the case for a global medical device manufacturer who was simultaneously faced with inter-related challenges in Accounting, Tax, Audit, and Vendor Management. They turned to Aventine Hill Partners to provide experienced financial accounting and reporting professionals that had the breadth and depth to tackle these problems quickly.

Our Solution

Applying their expertise in Accounting and Tax, our team provided support for and prepared calculations related to foreign tax credits, earnings and profits, partner tax bases, and month-end tax provision entries. Providing assistance to the Internal Audit Department, exposure analyses and audit testing was completed while minimizing the need for involvement from the company’s Accounting and Tax employees who were busy keeping the business operating.

To address issues with how U.S. customers were tracked for sales tax purposes, our team created a master list of over 15,000 customers, validated that each was still active based on statute requirements for each state, and verified the state sales tax exemption. A history of sales tax exemptions by customer was documented and procedures recommended for ongoing reviews.

Results

With support from Aventine Hill Partners and our available consultants, this global manufacturing company was able to quickly and effectively solve these issues, maintain regulatory compliance, and have procedures in place to avoid potentially costly errors going forward.

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