Cortland Valuation Group, Inc. Assists Global Supplier of Solar & Semiconductor Production and Automation Systems with ASC 350 (goodwill impairment) and ASC 323 Equity Method Accounting for International Investment

 

February 1, 2017 (Washington, D.C.) – Cortland Valuation Group, Inc. (“CVG”), the national business valuation and management consulting firm, today announced it has successfully completed its engagement as independent advisor to a publicly traded, global equipment manufacturer to the semiconductor and solar industries.

John B. Jackman, CFA, Managing Director of Cortland Valuation Group, led the valuation team and recently commented “This particular engagement was very complex due to time constraints upon the client company for SEC filing deadlines and the level of scrutiny placed upon the company by its auditors. In addition to the ASC 350 impairment testing for multiple reporting units located in Europe and Asia, the client also required independent advising related to a subsidiary deconsolidation and subsequent equity method accounting for its remaining interest for quarterly reporting purposes over a 2-year period.” Mr. Jackman added, “We were pleased to have the opportunity to provide this guidance to an important client and to assist them in meeting some very challenging reporting deadlines. We were also able to work closely with the client’s auditors to ensure a smooth process and efficiently get the work through the audit procedures. We work hard to be trusted advisors to our clients and it is experiences like this where we solidify our reputation.”

 

 

About CVG

Through its business valuation and advisory business, CVG provides in-depth, quality guidance to its clients. CVG is an independent national firm serving a full spectrum of clients, from early stage companies to the middle-market and larger corporations; as well as lending and finance groups within national banks, law firms, hedge funds and private-equity funds, accounting firms and other financial advisors. The firm’s expertise spans valuations for financial reporting under US GAAP and IFRS; tax planning, reporting and compliance; transactional work for due diligence, quality of earnings, fairness opinions, and merger & acquisition advisory purposes.

 

John B. Jackman, CFA

Managing Director

jjackman@cortlandvaluation.com

Phone: 512-348-8088 (Austin office) and/or 858-480-7065 (San Diego office)