Prospero Consulting, LLC is a niche accounting and consulting practice that offers a controller-CFO level skill set for organizations that have outsourcing and special project needs. The services offered are as follows. |
Interim Controller - The controllerships are never routine. The projects always involve special situations such as: cash flow issues, fraud issues, attorney general supervision, due diligence, business acquisitions, business dispositions, personnel issues, chaotic accounting, software conversions, employee family leave, and year-end closing issues.
Turnaround Consulting & Distressed Company Consulting - The majority of these projects are companies with cash flow problems who contact me to bring clarity and quantify the situation so can we can jointly develop corrective actions. Other times, commercial lenders who are nervous about the debtor's ability to pay will have me assess the situation. The commercial lenders want me to identify issues and help management develop solutions before the loan is transferred to the loan recovery area. In another scenario, I serve as a subcontractor for a Turnaround Management firm and assist the team by serving as interim controller. As such, my role is to provide a timely, accurate monthly closing with a full set of financial statements that can be used to make business decisions. We then jointly develop the creditor payment plan.
Software Conversion Project Management - In this capacity, we serve as the lead individual in the implementation of new software packages. It involves first obtaining a comprehensive understanding of the businesses operations and information flow, then tailoring the software setup decisions to the particular needs of the business. All users are trained and provided with written procedures. To date we have performed many conversions in the following industries: construction, manufacturing, professional services, and not-for-profit.
Delaware Holding Company Work - In this capacity, we provide senior accountant level services in a Delaware Holding Company environment. We support and supplement the accounting staff by performing an array of accounting tasks. This service is clearly a support role and we perform any task that is needed to assist the accounting department in this fast-paced environment.
Forensic/Fraud Auditing - There are four distinct areas of this service.
First, a company is already aware of fraud and retains my services to quantify and document the fraud for criminal,
insurance, and civil purposes.
Second, a business suspects that there is fraud and retains my services to identify the impropriety.
Third, in the normal course of an unrelated accounting project fraud is uncovered. The scope of the original
project is then expanded to quantify and document the fraud.
Fourth, we audit construction projects, real estate development deals, consulting agreements, and commission
agreements. Identify discrepancies between contractual terms and the application of the contractual terms.
The discrepancy may be fraudulent or just an honest mistake.
Procedure Documentation & Technical Writing - In this capacity, we document accounting and general business procedures as requested by the client.
Procedural Assessment - Assess the operation of accounting departments via interview, observation and light testing. Present the findings in a written report. Complete the entire project (fieldwork, report writing, & report presentation) in 40 hours or less.
Cash Flow, Forecasting & Budgeting - Often businesses will retain our services to provide an independent assessment of their businesses. We will analyze and forecast cash flow, revenues & expenses and customize the reporting of the analysis to meet the particular needs of the client. Although this is a distinct service, it is routinely provided in the normal course of all controllership and distressed company projects.
Training (Accounting & Computer) - Nearly all of the controller projects, software conversions, and procedural assessment projects involve an element of education and training. The training associated with these types of projects may be informal, formally written, or a formal oral presentation. Other times, accounting & computer training will be provided as a stand alone service.