Financial Reporting

Financial Reporting

Questions about the application of generally accepted accounting principles to complex business transactions arise in many contexts: preparing financial statements, adopting a new accounting principle, responding to an SEC staff comment letter, defending prior conclusions in litigation or resolving disputes.

We explain our thinking in plain English. We also relate our positions to the economics of the transaction. While well-versed in the technical language of financial reporting, we take pride in our ability to state our views simply and concisely. Importantly, we tailor our communication style to ensure that our views are transparent regardless of the accounting knowledge of our client. Whether we are dealing with board members, chief executives, operating managers, analysts, accountants, regulators, or attorneys, our objective remains the same: to simplify the complex.

SEC Reporting for complex transactions

Knowledge of SEC specific requirements- - Complying with the requirements of GAAP is necessary but not sufficient for public companies. The positions of the SEC staff on GAAP matters as well as the SEC rules and regulations governing the timing, form, and content of financial information in SEC filings are equally as important. Questions such as whether separate financial statements are required, how the transaction might be discussed in MD&A or presented in supplemental schedules, and whether and where pro forma information or alternative measures of performance can be presented have to be asked and answered concurrent with the questions about applying GAAP. The professionals at St. Clair Advisory Group are well-versed in the SEC's rules and regulations related to financial information. Let our knowledge help you identify and address the SEC related aspects of a complex transaction.