Fruitful long-term client relationship.
Founded in 2014, this media and marketing agency engaged Heath Advisory when its total annual billings were less than $20 million. What began as a consulting engagement providing on-demand financial expertise soon evolved into a permanent part-time CFO and business advisory role.
A few highlights from the relationship:
- We designed and implemented a cost accounting system that allowed the agency to evaluate profitability by client.
- We created a time-tracking system that allowed the company to evaluate staffing needs by illuminating staff utilization.
- We led their on-staff controller and four-member accounting team through their first financial statement audit. This involved a robust general ledger cleanup exercise as well as the consolidation and subsequent spinoff of a related entity.
- We oversaw the capitalization of the agency’s leases under ASC 842 and confirmed revenue recognition in accordance with ASC 606.
- We implemented accounting for the company’s equity awards and coordinated with valuation experts to ensure proper accounting in advance of forthcoming audits.
- We served in an ongoing role coaching and mentoring the company’s on-staff controller.
The numbers speak for themselves: Over the course of our engagement, the agency’s annual billings went from less than $20 million to $130 million and growing.
Let’s write our own success story.
This is just one example of how we have helped a company unlock its potential and thrive in its industry.
Learn how our fractional CFO and business advisory services can provide your company with that missing piece of the puzzle. Use the main nav to learn more about our background and services, or contact us anytime at info@heathadvisory.com.
