Company Size & Timeframe

  • $25 million in revenue
  • 5 days/week, 5 months


  • Prevented company from being in default of covenants
  • Obtained unqualified audit report
  • Brought financial reporting current
  • Decreased time for future month-/year-end closes
  • Increased financial accuracy
  • Stabilized staff concerns through training and counseling

Company Profile & Position

  • Private equity financed with some management ownership
  • Team: Interim Controller & Interim Assistant Controller


  • Termination of the controller and assistant controller; majority of staff was new
  • Previous three months general ledger was not closed; financial statements not produced
  • Sale agreement/bargain purchase not properly recorded
  • Year-End Board of Directors financials and audit preparation not started
  • Lack of internal controls, staff training, reporting
  • Ledgers not reconciling or up-to-date
  • No template to generate financial statements


  • Generated 8 months of financials
  • Created, reconciled and posted bargain purchase agreement
  • Generated needed trial balances on time
  • Created appropriate audit schedules
  • Guided company to satisfactory completion of the annual audit
  • Updated sales and operating forecast
  • Improved month-end reporting process
  • Reviewed and recommended improved internal controls
  • Created separate holding company general ledger to eliminate comingling of entries/balances
  • Trained full-time replacement Controller
  • Addressed sample order performance
Results manufacturing

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Cerius Insights


The Cerius Interims were professional, diligent and hard-working. They were helpful in getting us through a difficult transition phase and I would happily recommend them without reservation to any company in need of accounting help.”