2014
9 December

Evaluating Year-End SOC Reports – Best Practices

As the calendar year end approaches, it’s time to start collecting and analyzing Service Organization Controls (SOC) Reports. SOC reports are independent audit reports regarding your service providers’ controls. Since most organizations choose the calendar year as their fiscal year, vendors and their SOC auditors plan to complete their SOC audits and deliver the reports around now, close to the end of the year. This helps ensure that the related testing was completed as close to year end as possible, which is important for financial statement and Sarbanes-Oxley (SOX) audits.

When obtaining the SOC reports, remember they are audit reports, not certifications. The report may include red flags, and it’s incumbent upon you to read them and determine if there are any matters that negatively impact the service you receive. Be sure to consider these items when evaluating SOC reports:

2014
26 November

Research Reports Adaptive Insights as a Top SaaS Company for Financial Planning

Adaptive Insights Ranks #14The recently released Montclare SaaS 250, an annual research report on the most influential Software-as-a-Service (SaaS) companies, notes Adaptive Insights in a strong position. The report reviews the top cloud business applications including Salesforce, Google, LinkedIn, Workday, NetSuite, and more. Adaptive Insights took the #14 spot out of 250 shooting far ahead of the other cloud competitors in the financial planning space, such as Host (172) and Tide (119), as well as the much larger legacy players, including SAP (28) and IBM (40).  Adaptive also earned a #4 spot on the report’s Top 10 lists for Growth Companies, Innovative Companies, and Private Companies for SaaS.

With an adaptable, all-in-one solution for business intelligence and Corporate Performance Management, it’s no surprise to see Adaptive Insights shooting ahead of competitors. Learn more about the Montclare SaaS 250 and how Adaptive Insights stacks up to the competition. Take a peek at the Adaptive Suite for more on the Adaptive solutions.

2014
24 November

Ensuring a Smooth Move to the Cloud for Equity Implementation

Cloud Implementation for Equity PlansWhen you’re moving an equity plan to the cloud, there are often unexpected data variances that can cause issues during the implementation process. These variances frequently impede the process and can require the implementation to be reworked. This can add headaches and may lead to out-of-scope work or budget impacts.

Getting to know the many preventable data issues before they arise can save time and money. Here is a useful checklist for troubleshooting data issues during the planning stage of an implementation.

2014
18 November

FASB and SEC Issue Changes for Pushdown Accounting

The Financial Accounting Standards Board (FASB) and the Securities and Exchange Commission (SEC) has issued a standard allowing an acquired entity to elect push down accounting whenever there is a change of control. The SEC simultaneously rescinded its guidance that allowed push down accounting in certain circumstances, forbade it in certain circumstances, and required it in others. Public companies will now follow the FASB standard, which makes it an election.

For full details, check out Accounting Today’s full explanation.

2014
11 November

Six Benefits of Outsourced Equity Management

There are many good reasons to outsource your equity management. Here are the top six ways outsourcing can benefit your organization.

  1. Tax-Related Expertise: As exciting as tax law is, the depth of the subject can be a bit daunting. By outsourcing the management of your organization’s equity issuances, you can depend on a specialist to focus on the nuances and proper treatment of your tax reporting. This will help ensure your company files in a timely and accurate manner.
  2. Accurate Expense: A transition from manual expense calculations to a system-based calculation will often lead to the discovery of inaccurate historical expense. The process of converting to systematic stock-based compensation expense reporting provides you the opportunity to not only mirror historical data and assumptions, but more importantly, also allows you to reassess past expenses and make corrections. This leads to the third benefit – a new perspective.
  3. New Perspective: A common accounting mistake is depending on previously established processes to calculate/assess current expense. Things change from year to year, and so must the valuation of equity. Allowing a fresh pair of eyes to review, value and calculate expense will help keep details up to date.
  4. Time Management: Utilizing a specialist allows your organization to focus on more pressing day-to-day operations. Third-party management teams tend to invest more in research and methodology development to enhance services, so your organization reaps these benefits without spending time or money on additional research and education.
  5. Cost Efficiency: Though there are initial costs with outsourcing equity management, the financial benefits of outsourcing are proven quickly. You save tremendous resources by eliminating the need to train internal staff on management systems and negating the need to keep up with the constant changes in tax treatment.
  6. Peace of Mind: Outsourcing provides the comfort of knowing that all equity-related work will be done on time and accurately. Investing in outsourced equity management to improve operational efficiency helps avoid unnecessary expenses and fines associated with missed reporting deadlines.

Check out Armanino’s equity management solutions including EASi, a cloud equity administration solution.

2014
10 November

See you at Intacct Advantage this week!

We are at Intacct Advantage this week! Hope to see you here!

Armanino is excited to be attending the Intacct Advantage conference in Orlando this week. Check out our sessions during the event for insights on the IPO process, including avoiding pitfalls, planning for SOX and FCPA compliance, and supporting your organization’s growth from pre-IPO and continuing beyond becoming a public entity. We’d also love to see you at our booth to discuss integration and customization opportunities or to view a live demo.

This is going to be a fantastic, content-filled event and we can’t wait to learn how we can better connect!

Don’t forget to plan your sessions!

2014
4 November

A Review of Transitioning to the Cloud for Accounting

During the recent Microsoft Dynamics User Conference, we were able to speak with Mike Moore, Chief Information Officer for Virtual Instruments, on how Virtual Instruments partnered with Armanino to integrate Microsoft Dynamics AX with their other systems. Learn about how this “cloud first, mobile first” company was able to transition into the cloud to streamline processes.

Learn more about integrating with Dynamics AX.

2014
24 October

International Franchiser Joins Armanino Family for Cloud-Based Solution

We’re excited to announce a new partnership with Cartridge World, an international franchiser that offers printers, ink and toner, and printer repair for home and business customers. Armanino will be providing a custom-tailored accounting and financial reporting solution from Intacct to consolidate Cartridge World’s global accounting and financial reporting needs.

“By reducing our annual subscription fee by two-thirds of what we were previously investing, Armanino has helped us redesign our workflow to maximize our savings. With Intacct, we are able to tie our global presence together under one simple to use cloud accounting solution.”

– Michael Dixon, Director of Finance, Cartridge World

Utilizing Intacct allows for consolidating reports across different geographic locations and minimizing manual reporting to save time and costs. With this multi-dimensional cloud-based solution, Cartridge World has access to customized analyses of KPIs and budget variances from multiple locations alongside the opportunity to ‘tag’ transactions and data points for ease of access and reporting.

Learn more about solution opportunities with Intacct from the 2014 VAR Partner of the Year.