Client: Swiss-African Joint Venture
Problem:
A Swiss-African joint venture with two newly constructed U.S. sites has not properly capitalized its investment.
Scope of Work:
The Board of Directors brought in Quantalyst to unravel and document the existing capitalization structure and implement a sustainable recording process for future major transactions.
What Quantalyst Did:
- Inventoried and identified all assets.
- Reconciled inventory to actual costs using purchase records.
- Implemented asset reporting system tied to inventory.
- Completed necessary governmental filings.
Results:
- The client avoided all cash penalties from the various governmental agencies involved in regulating the firm.
- Implementation of proper and sustainable accounting procedures allowed a successful exit from the engagement.
