Technical Accounting

Helping Clients Solve Problems Others Cannot

"Connor Group acted as an extension of our team throughout the process providing guidance and expertise in very critical and technical areas"
- Corp Controller Portola Pharmaceuticals

Our professionals combine technical knowledge that is on par with the best among the industry, including large accounting firms, with our appreciation of practicalities and challenges of real world business. Our unique service delivery approach is built on quality and centers around a hands-on executive led team that partners with you to make our skills and expertise work for you. We do not provide signed audit, review, or compilation services. Therefore, we are not restricted by independence rules of a typical accounting firm. We roll up our sleeves and work for and on behalf of company management to help you look good and succeed.

We stay at the forefront of the ever evolving accounting landscape. Just like we developed solutions for many companies that adopted the current multiple-element revenue guidance beginning in 2009, we have been deeply involved with ASC 606, the new standard released by the FASB in 2014. Starting with contributing to the drafting process through comment letters, to developing a deep understanding of the new standard’s provisions and the underlying principles, to leading our clients through the implementation, we once again influence the leading-edge accounting practices.

Our services touch on many industries and encompass almost the entire range of accounting and reporting topics for public and private companies. Among those, our clients frequently ask us for help with the following:

Business Advisors to Executives and Audit Committee (Board)

  • Advise on accounting and reporting implications of business transactions
  • Help structure transactions to accomplish objectives
  • Advise on SEC rules and regulations, hot buttons and recent developments
  • Navigate through restatements, corrections of errors and changes in estimates
  • Help bridge the gap and manage auditors and valuation specialists

Financial Statements and Audit Support

  • Audit preparation and support throughout the external audit process
  • Assist management with financial statement preparation, form S-1 and other SEC filings
  • Address relevant accounting and disclosure topics (e.g., revenue recognition, acquisitions, restructuring, etc.)
  • IFRS to US GAAP (and vice versa) conversions

Business Combinations

  • SEC rules for significant acquisitions
  • Business v. asset acquisitions
  • Purchase price allocation, contingent consideration
  • Reverse mergers and recapitalizations
  • Spin-offs, carve-outs and acquired entity financial statements

Revenue Recognition

  • Implementation of ASC 606, Revenue from Contracts with Customers (policy, memos, calculations)
  • Develop or evaluate revenue recognition policy
  • Create transaction-level revenue and deferred revenue subledger
  • Advise on various aspects of revenue accounting (SAB 104, multiple elements, software)

Evaluate Features of Equity and Liability Instruments

  • Assist with technical memos (White Papers) and journal entries
  • Regular and convertible debt, bridge loans
  • Convertible and redeemable preferred stock
  • Warrants, call and put options and other complex instruments
  • Derivatives and hedging

Stock Based Compensation

  • Address technical issues such as modifications, performance and market awards, non-employee grants, etc.
  • Assist with technical memos (white paper) and calculations (assumptions and subledger)
  • Assist with disclosures

Industry-Specific Technical Memos (white papers) and Calculations

  • Software, cloud and Internet (revenue, principal v. agent, software capitalization)
  • Life sciences (commercialization, collaborations, R&D costs, product financing)
  • Renewable energy (variable interest consolidation, leases, renewable energy credits)
  • Virtual games (estimating life of game/gamer/virtual goods, principal v. agent)