As a leading Food & Beverage manufacturing organization, CPCON’s client has approximately 15,000 employees across 17 plants with over $3 billion in fixed assets. The company struggled with their fixed asset accounting and management for internal control, financial reporting, and regulatory policy purposes.
CPCON was engaged by the manufacturing client to reconstruct the documentation and controls over fixed assets that covered both of its accounting and management aspects. The scope of the work included in-service dates, book and tax depreciation expense, asset retirement analysis, fixed asset tagging and register reconciliation, and tangible asset valuations. Our work was presented to management and audited by a Big 4 audit firm