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Success Story - Accounting and Finance Clean-up

Helping companies make informed financial decisions

Superior consulting services delivering successful accounting and finance solutions

A large oilfield services firm operating in the Eagle Ford Shale play came to Aventine Hill Partners with several issues in Finance, Accounting, and Tax. The company was unable to analyze job costs or generate periodic financial reports to allow management to make informed decisions. There were also questions surrounding the accuracy of multi-state sales tax payments. Because of the cross-discipline nature of the challenges, the company chose to engage Aventine Hill Partners’ CFO Advisory services.

Our Solution

The CFO Advisor's first task was to perform an in-depth analysis of how job costs were categorized in the existing Chart of Accounts. Changes were recommended that improved the accuracy and specificity of job cost accounting. New, more accurate financial reports were defined based on the improved Chart. These reports were able to be generated on a monthly basis and began providing senior management with a more complete picture of job and indirect costs.

Through a thorough review of sales tax regulations in states where the company was operating, we identified and implemented improvements for monthly sales tax reports and payments. Our efforts resulted in a significantly reduced risk of inaccurate payments or fines.

After making these improvements, we assisted the company in recruiting and training a new senior-level accounting employee.

Results

Aventine Hill Partners was able to provide cost-effective, executive-level consulting to make dramatic improvements quickly and put in place ongoing support to cost effectively maintain the sustainability of those improvements. Learn more about our Accounting and Finance capabilities.

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