Complex Financial Reporting

Auditors can no longer provide technical research or assistance in implementing pronouncements for their clients.  Opportune employs an engagement team approach combining extensive experience and subscriptions to numerous databases to perform research and document solutions to complex reporting issues.  We will be your advocate in drafting and presenting client positions to external auditors and the SEC. Opportune LLP is not a CPA firm.

Areas of technical expertise include:

• Derivative instruments and Hedging Activities
  • Complete outsourcing of the valuation and reporting for derivative and hedging matters (FAS 133, FAS 157, FAS 161)
  • Preparation of risk management policies and procedures

 

• Business Combinations and Asset Acquisitions
  • Purchase price allocations (FAS 141(R), FAS142)
  • Valuation of asset retirement obligations (FAS 143)
  • Preparation of pro forma financial statements
  • Drafting of acquisition Form 8-K 

 

• Oil & Gas Exploration and Production Activities
  • Successful efforts (FAS19)
  • Full cost (S-X Rule 4-10)
  • FAS 69 and SEC modernization of oil and gas reporting

 

• Impairment Testing
  • Intangible asset and goodwill (FAS 142)
  • Ceiling-test impairments (S-X Rule 4-10)
  • Long-lived assets, including oil and gas properties (FAS 144)

 

• Stock-Based Compensation (FAS 123R, SAB 14)
  • Proprietary model to measure compensation expense based on award characteristics and actual vesting activity
  • Preparation of private and public entity compensation plans
  • Allocation of entity fair value to individual awards
  • Preparation of private-entity distribution waterfalls
  • Measurement of vesting and forfeiture activity

 

• Structured Transactions, Instruments and Investments
  • Variable interest entities (FIN 46R)
  • Convertible securities (FAS 150, FAS 133, EITF 00-19, EITF 07-5)
  • Non-controlling interests (FAS 160)

 

• International Financial Reporting Standards