Sax LLP Adds Transaction Advisory Services

Clifton, N.J.-based Sax LLP (FY17 net revenue of $37.7 million) has launched a transaction advisory practice to help companies navigate complex transactions whether buying or selling, restructuring or providing capital solutions.

Sax says that with the increasing rate of M&A deals and transactions across all industries, a natural move to assist companies with deal strategy, valuation and performance improvements, due diligence, and the integration or divestiture of a business.

“We always work to help create value, manage risk and seize opportunities to unlock potential growth, and our transaction advisory practice is one more value-enhancing service for businesses who are in pursuit of synergy, diversification, growth and the competitive advantage,” says MP Joseph A. Damiano.

The practice is led by partner Todd W. Polyniak, who has over 30 years of auditing, accounting and advisory experience. “At Sax, we understand that capital is the lifeblood of every growing business, and we recognize the delicate balance between deal makers and deal breakers when it comes to M&As and transactions,” he says. “Our aim and intent are to properly and thoroughly advise businesses so they can make informed decisions about strategically managing capital and transactions in fast-changing markets, and to secure their intended outcome.”

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Anders Focuses on Cannabis Industry Following Missouri Legalization

St. Louis-based Anders CPAs + Advisors (FY17 net revenue of $31.8 million) is expanding expertise and services for businesses in the cannabis industry following the legalization of medical marijuana in Missouri.

Anders says it has a team committed to staying on the forefront of evolving regulations, licensing procedures and accounting practices for the cannabis industry.

“This is a great opportunity for the firm to enter into a progressive industry and offer valuable insight and expertise to cannabis businesses, from seed to sale,” explains Adam S. Prest, tax principal and leader of the Anders cannabis team.

The firm works with cannabis entrepreneurs, including cultivators, extractors, manufacturers, dispensaries and investors. The team has the tools to help cannabis businesses succeed and navigate regulations and complex tax challenges, including Section 280E. Anders is offering services to help with entity selection and business plan development prior to the license and application process, to performing valuations to assist in the sale of a business.

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Carr Riggs & Ingram Unveils CRI Advanced Analytics

Enterprise, Ala.-based Carr Riggs & Ingram (FY17 net revenue of $286.1 million) recently launched CRI Advanced Analytics, a new software company focused on providing clients with actionable data to help them prepare for future trends in their industry.

CRI Advanced Analytics provides innovative solutions that allow companies to forecast critical aspects of their business. The software platform utilizes interactive, user-friendly visualizations and dashboards to produce reliable analytics that identify essential metrics around areas like reimbursement, staffing, and revenue management. Currently, the software offers metrics for the long-term care industry. However, a new product is being developed to help diversify offerings to include hospitality organizations. The goal is to continue expansion and provide functional data to businesses in a range of different industries.

“The addition of this new portfolio allows CRI to strategically grow our practice and develop new capabilities in the realm of data analytics,” says Bill Carr, MP of CRI. “Our goal is to revolutionize functional data and understand how the marketplace translates these crucial insights into industry trends. We look forward to the endless opportunities that we have to expand our software offerings and making this application available to a range of diverse industries.”

For more information on CRI Advanced Analytics, visit CRIanalytics.com.

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KCoe Isom Announces Program to Aid Food & Ag Entrepreneurs

Salina, Kan.-based K·Coe Isom (FY18 net revenue of $68.2 million) announced a new program intended to provide entrepreneurs with a more visible platform for their food and ag innovations. The unique Spark program utilizes the expertise of K·Coe Isom’s food and ag consultants to identify and promote clever innovations and young companies that have the proven potential to change and advance food and agriculture operations.

“The foundation for the Spark program was conceived from the amount of requests we were receiving from start-ups that were approaching us to partner with them to help bring their products or services to market,” says Kathleen Walton, partner and chairwoman of the board for K·Coe Isom.

“As a leading food and ag firm, our ability to positively shape the future and strengthen the position of food and ag companies is what matters most to us. By creating a program that can connect these innovative ideas and companies with our firm’s dynamic resources, clients, and industry leadership, our ultimate goal is to progressively transform America’s oldest and most important industry – a win-win for everyone,” says Walton.

Applications will be reviewed, and companies will go through a comprehensive due diligence process to be accepted. Spark program members will receive access to the expertise of food and ag advisors, brand promotion, and strategic opportunities to accelerate their company.

Find out more at: www.kcoe.com/spark

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Friedman Launches New Brand for Cybersecurity Company: CyZen

New York-based Friedman LLP (FY17 net revenue of $101.5 million) has unveiled a new website and brand of its cybersecurity company, CyZen.

“While many cybersecurity consultants prey on fear, CyZen takes a unique approach — delivering thoughtful and practical guidance that brings you peace of mind,” the firm announced. “We draw our inspiration from the ensō, or the circle of enlightenment, which reflects our mission to restore cyber tranquility to your organization.”

CyZen helps businesses assess and prevent cyber threats, detect and respond to attacks, and evaluate risks and review compliance. Services include penetration testing and vulnerability management through incident response, risk assessment and more.

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Boeckermann Grafstrom & Mayer Launches Family Office Services Group

Bloomington, Minn.-based Boeckermann Grafstrom & Mayer announced that it has formed a family offices services group for high-net-worth individuals

“Offering this service allows us to simplify our clients’ lives by servicing a variety of their needs all under one roof,” says Dane Boeckermann, PIC of the group. Services include asset tracking, contract reviews and bill pay. Also included is lifestyle and family management services, such as property management, appointment setting and travel research. “We can handle all of it so that clients can focus on what is most important to them.”

Comprised of CPAs, wealth advisors, trust and financial advisors, attorneys and insurance specialists, the team coordinates personal and business finances. Also on staff is a full-time lifestyle and family management advisor to assist clients in handling the details and responsibilities that come from leading a busy life or running a household. All services are customizable.

Crowe Introduces Lease Accounting Software Built for Government Entities

Chicago-based Crowe (FY18 net revenue of $888.6 million) has launched a new tool to help governments comply with recently adopted accounting rules related to leases.

Under the new rules, required by the Governmental Accounting Standards Board (GASB), government entities must analyze their current lease catalog. Crowe has created the Crowe Lease Accounting Optimizer to track, account for and report on lessee and lessor leases, Crowe announced.

The Crowe Lease Accounting Optimizer for public sector:

  • ​Tracks lessee and lessor leases
  • Automatically generates variable payments
  • Automates the lease payment processes and eliminates duplicate data entry, making lease accounting compliance less labor-intensive
  • Provides built-in audit controls and lease payment traceability
  • ​Performs instant cash flow and lease analysis

“Public entities can often be both a lessor and lessee, making their overall lease portfolio incredibly complex,” says Tom Reznicek, Crowe performance consulting principal. “We developed this tool to provide critical analyses and automate processes to not only help meet the GASB compliance standards, but also assist public sector entities in running their day-to-day operations better.”

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EisnerAmper Expands Cannabis Practice

New York-based EisnerAmper (FY18 net revenue of $360.7 million) anticipates rapid expansion of the hemp and cannabis industry at the federal, state and international levels and is therefore expanding its services.

EisnerAmper is adding to its accounting, tax and advisory services for hemp and cannabis companies, from startup to exit. The firm also helps entities prepare for and adapt to regulatory changes and offer compliance services designed to meet annual governmental reporting requirements.

“This is the fastest-growing and most quickly evolving industry I’ve seen in my 35 years in business advisory services,” says Rick Frimmer, EisnerAmper managing director and cannabis and hemp practice leader. “What sets us apart is our practical experience having performed many engagements in this one-of-a-kind sector on behalf of both public and private companies. We know the landscape. We know the participants. And our lengthy track record of accounting proficiency and a client-centric approach is widely known.”

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RoseRyan Launches Cannabis Company

RoseRyan of Newark, Calif., has launched a new company, Kukuza Associates LLC, that concentrates solely on the cannabis market.

The new company is a finance and accounting consulting firm that closely mirrors its parent, RoseRyan. Founded in 1993, RoseRyan has more than 100 professionals, delivers finance and accounting solutions.

Explains RoseRyan CEO Kathy Ryan, “It’s exciting to launch Kukuza Associates, a finance and accounting consulting firm powered and backed by RoseRyan. It deepens our investment in the cannabis market and is geared specifically to this dynamic, rapidly evolving marketplace.” RoseRyan entered the cannabis market in 2014.

Kukuza Associates works with startups and established companies in every segment of the cannabis market at every stage of the lifecycle.

Says Dave Roberson, CEO of Kukuza, “Designed for this unique marketplace, Kukuza’s finance and cannabis accounting solutions are vital for businesses that are growing, vertically integrating and eyeing deals. Our experienced team steps in, brings order to the chaos and navigates cannabis companies ahead by putting a solid finance foundation in place.”

He notes that Kukuza’s cannabis solutions address strategic finance as well as day-to-day accounting, emphasizing that both are prerequisites for sustainable success. The company’s name is drawn from the Swahili word meaning potential and growth.

Based on RoseRyan’s original offering for the cannabis industry, Kukuza offers a refined and expanded set of cannabis solutions: assessment, strategic finance, outsourced accounting, financial reporting and analysis, transaction support and internal controls.

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Armanino Expands Privacy Services Practice to Protect Client Data

San Ramon, Calif.-based Armanino LLP (FY17 net revenue of $242.7 million) announces the expansion of its privacy services practice to help business leaders address and comply with the quickly changing privacy and breach notification laws.

“Data privacy is crucial for all businesses, particularly those entrusted with sensitive consumer data,” says Liam Collins, partner and practice leader for risk assurance and advisory services. “Armanino’s privacy services practice was founded with the understanding that data privacy is a critical business issue for clients and a fundamental right for all consumers.”

The practice offers a full spectrum of services including privacy managed services, privacy impact assessments, data inventory, privacy program assessments, outsourced data protection and compliance.

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