Mindshift Partners has provided Audit Preparation for clients virtually since its inception in 2004. Our CPAs and consultants create preaudit schedules before the auditors come in, thereby enabling the auditors to perform their field work in a more expedited manner.
We can be helpful with the following:
- Preaudit financial statement preparation
- 10-K, 10-Q and MD&A Preparation
The main advantage to using MindShift Partners is that we fill the gap between what your internal staff can do, and what your auditor can't do because of their independence requirement. Our unique approach to Audit Prep also allows the auditor to save significant time and scarce resources, and the company to save money. The result for the client is a faster, smoother, less costly audit process.
Here are some Examples:
- Material financing transactions; revenue recognition
- Goodwill impairment
- Purchase accounting
- Stock options
- Junior capital
These are all areas beyond a simple A/R aging or trial balance, where an outside party can be helpful in assessing the impact on the financial statements, and preparing workpapers before the company's materials go to the auditor for review.
Our rates are lower than auditor and consulting firms and we add value by streamlining the overall audit process. We also work in a complementary, streamlined fashion with your auditors to get the job done quickly and correctly. The end result is that you save time and money on your audit/review process, quarter after quarter, year after year. view case studies
MindShift Partners works with companies undergoing a transaction to prepare schedules to expedite the due diligence process. In doing so, we focus the analysis on the traditional "problem" areas of the balance sheet to ensure compliance with GAAP:
- Revenue recognition
- Accounting for stock options
- The equity section
Having all the schedules ready, organized and ACCURATE for all the deal parties to review maximizes the various parties' time, and allows the auditor to complete its review of issues in an expedited manner, which typically results in lower Accounting-related deal costs. view case studies
Investor-Grade Financial Models
We have helped several companies to build investor-grade models to attract investment. Those models have impacted other areas in the company, particularly marketing and strategy.
Mindshift has worked on several analysis projects where the company simply didn't have the capabilities in-house to perform the work. In one case, the client leveraged our capabilities to perform activity-based costing analysis to implement dynamic pricing for their products. In another case, the client worked with Mindshift to restructure their balance sheet to maximize liquidity. view case studies