Stay on top of complex and ever-changing accounting rules
Ensuring compliance with Generally Accepted Accounting Principles (GAAP) can be a daunting process but gaining the clarity and consistency you need in communicating financial information is vitally important for your organization.
Take the worry out of meeting accounting requirements with Wipfli. We assist organizations with a range of consulting services to support your GAAP compliance.
New accounting standards implementation
Accounting Standards Codification (ASC) 842, the new lease accounting standard, is a difficult change for companies long accustomed to accounting for leases in a different way. Wipfli can help you understand the new rules and use the appropriate software to complete the necessary calculations to help you comply with the new standard.
Have ASC 842 been implemented already? Are you ready for ASC 326, related to current expected credit losses (CECL), which will be the next sweeping standard change that requires adoption by all nonpublic companies for annual periods beginning after December 15, 2022?
Accounting for equity and debt financing
Transactions are getting more complex and accounting for them properly is challenging. Let Wipfli help you account for your financial arrangements, including preferred stock, convertible debt and warrants.
Accounting for business combinations
If your company is planning a merger or acquisition, the accounting requirements may be unfamiliar and well beyond the scope of in-house accountants. Wipfli can take a strategic look at the transaction and provide guidance on deal structuring, perks and pitfalls to consider in drafting the related agreements.
Other specialties
Wipfli is ready to help your organization with your accounting and GAAP compliance needs with any level of assistance:
- Revenue recognition
- Stock-based compensation, including stock options and profits interests
- Capitalized software costs
- Income taxes
- Derivatives and hedging arrangements
- Consolidations, minority interests and restructurings
Not sure where to start? Our team of specialized accountants can do a careful assessment of your books and let you know of any concerns or red flags. Rules change regularly and it’s smart to make sure your financial statements reflect current rules and requirements.