PROJECT SUMMARIES

Prospero Consulting, LLC
6 White Briar Circle
Hockessin, Delaware 19707
Phone: 302-239-7047
Fax: 302-239-7419
e-mail: vprospero@prosperoconsultingllc.com

Home Services Offered Project Summaries Testimonials Biography

Please find listed below summaries of selected projects serviced by Prospero Consulting, LLC from the inception of our company in 1998 to the present. This summary will give you insight into the consulting services we offer and will help you identify projects where we can be of assistance to you.

Interim Controller
Software Consulting Industry - Annual revenue of client $20MM.
Served as the interim controller and the accounting liaison during the due diligence process associated with an acquisition by a publicly held software conglomerate. Prepared the company for sale by refining the monthly closing process, establishing procedures, producing monthly financial statements and other management reports.
Interim Assistant Controller
Construction, Property Management & Real Estate Development
Responsibilities included closing the 1997, 1999 & 2000 books and records for twenty-eight legal entities. Tasks included reconciling all balance sheet accounts, reviewing income statement accounts, producing AJE's, final trial balances, financial statements, and all federal & state income tax returns.
Interim Regional Accounting Manager
Property Management & Real Estate Development - Portfolio valued at over $1 billion
Served as an accounting manager overseeing the property accounting for half of the portfolio. Responsible for the accounting for six office buildings which were valued at over $500MM. The ownership structure of a REIT was being reallocated which resulted in the elimination of the regional accounting function. The scope of this project was to maintain the property management accounting and transition the accounting function to the new investors. Supervised a staff of two accountants.
Turnaround Consultant, Interim CFO, & Software Conversion Project Manager
Manufacturing Industry - Annual revenue of client $20MM
Member of a four-person team which served as interim management for a distressed company that was in a banking work out situation. Managed three software conversions. Totally restructured and organized a chaotic accounting department. Heavily involved in maintaining the banking relationship. Recruited and managed the hiring of the permanent controller. Supervised a staff of four.
Turnaround Consultant, Interim Controller, & Software Conversion Project Manager
Not-for-profit Organization
Served as the interim controller for a prestigious yet distressed not-for-profit organization. Designed & implemented the creditor workout terms. Reorganized and downsized the organization to levels supported by the revenue stream. Supervised a staff of three accountants. This high profile project required interface with the attorney general's office, legal council, and public relations consultants. In the later stages of the project, a software conversion was performed. Recruited and managed the hiring of the permanent controller.
Software Conversion Project Manager & Interim Controller
Manufacturing Industry
Assisted a regional vice president (of a publicly held manufacturing conglomerate) prepare a subsidiary for sale. Served as project manager for a software conversion employing absorption accounting to comprehend product cost for the first time in the subsidiary's history. Development of labor & production overhead absorption rates. Served as accounting liaison during the due diligence process associated with an acquisition by another publicly held manufacturing conglomerate. Served as interim controller for the acquiring company, prepared the monthly closing and reported financial performance to corporate accounting. Hired and trained the permanent controller. Supervised one staff accountant.

The same client later engaged Prospero Consulting to perform an identical project for another subsidiary. Unlike the initial project, the interim controllership scope required performing the monthly closing for 18 months following the software conversion until the business was eventually sold. Supervised a staff of four.
Software Conversion Project Manager
Professional Services Industry - Client employs 40 consultants
Served as project leader for a software conversion. The software was a time & billing, contact management, and project management software package for professional service firms. Responsibilities included assisting management in making setup decisions, implementing the conversion, training users, and assisting management in developing procedures. Created and taught a formal training seminar for all users. Provided this service for two different professional service firms.
Software Conversion Project Manager
Not-for-profit Organization
Performed a software conversion for a not-for-profit organization employing fund accounting concepts. The software setup required the reporting of 55 branches to the corporate level. Prepared four monthly closings following the conversion and transitioned the accounting function to a newly hired controller.
Delaware Holding Company Work
Investment Industry - Assets under management exceed $1 billion
Served as a senior accountant in a sophisticated, high-volume environment. Recorded, monitored & analyzed investment activity in private equity funds. Supported and supplemented the permanent staff by performing an array of senior accounting functions.
Delaware Holding Company Work
Entertainment Industry - Annual revenue of parent company $8 Billion
Assisted the controller in closing the books for eight Delaware Holding Companies. Responsibilities included preparing & posting eliminating entries, then transmitting data to corporate accounting for consolidation. Resolved audit issues.
Forensic/Fraud Auditing
Real Estate Development
Investigated the accounting of the construction of a retail/office complex for an investor that suspected accounting irregularities. Identified additional revenue due to the client, underreporting of equity, undocumented construction costs, and equity distributions issues.
Forensic/Fraud Auditing
Manufacturing Industry
Management became aware of an embezzlement and retained our services (working at the direction of corporate counsel) to quantify the amount of embezzlement for preparation of an insurance claim and prosecution.
Forensic/Fraud Auditing
Hospitality Industry
An investor suspected their partners of diverting corporate assets for personal gain. Prospero Consulting was retained to find instances of fraud. and was able to document one significant finding that contributed to the desired goal of dissolving the business affiliation.
Forensic/Audit Work
Real Estate/Property Management Industry - Represented Commercial Tenant
Audited a tenant's CAM charges. Discovered excessive over billings which resulted in a 45% reduction of the annual CAM billing.
Forensic/Audit Work
Construction Industry - Represented a publicly traded international construction company - Annual revenue of client $4 Billion
Audited a $12MM subcontract and identified over 300 instances of billing errors. The reconciliation report was used to negotiate a final settlement with the contractor.
Forensic/Audit Work
Pharmaceutical Industry
Performed a construction audit of a $34MM manufacturing facility owned by an international publicly traded pharmaceutical company. The findings were used to negotiate refunds from both the general contractor and the professional engineers.
Procedure Documentation
Men's Apparel Industry - Annual revenue of client $80MM
Responsibilities included recording the procedures for the following disciplines: A/P, A/R, standard costing, inventory valuation, management payroll, union payroll, commission payroll, customer service, EDP, marketing, shipping/receiving, and purchasing. Refined the text to produce a procedure manual.
Procedure Documentation
Laboratory Testing Environment
Recorded the procedures for all accounting functions and all shipping functions. The documentation of standard accounting procedures was necessitated to be in compliance with the terms and conditions of government grants.
Accounting/Procedural Assessment & Technical Writing
Various Industries/Various Clients
In less than forty hours, performed a preliminary assessment of an accounting department and presented a summary report to management highlighting the weaknesses in the accounting department. Via interview, observation, review of key financial reports, and light testing we were able to identify the major issues that need to be addressed. In some cases, we were hired to correct the problems.
General Consulting: Cash Flow Analysis, Budgeting, Forecasting, & Other
Various Industries/ Various Clients
Created accounting policies, procedures, and records for newly created companies. Assisted entrepreneurs in making accounting, insurance, retirement, and general compliance decisions. Performed cash flow analysis and projections. Performed budgeting and forecasting services.
Proforma Work
Real Estate Development - Various Clients
Assisted real estate developers in projecting the financial performance of potential investments thus helping the developers value the real estate. The projections may involve the acquisition of an existing structure or a start-up project.

PROJECT SUMMARIES

Prospero Consulting, LLC 6 White Briar Circle Hockessin, Delaware 19707 Phone: 302-239-7047 Fax: 302-239-7419 e-mail: vprospero@prosperoconsultingllc.com

Prospero Consulting, LLC
6 White Briar Circle
Hockessin, Delaware 19707
Phone: 302-239-7047
Fax: 302-239-7419
e-mail: vprospero@prosperoconsultingllc.com