RSM collaborates with Syneos Health on a wide variety of advisory, tax, and accounting services including global compliance, statutory and tax filings, loan staffing, providing assistance with financial reporting, and internal audit resources to help with revenue projects, including revenue recognition, ASC 606.
When INC Research and inVentiv Health merged to become Syneos Health, their accounting resources were constrained and they were facing the pending deadline for adoption of the lease accounting standard, ASC 842. RSM assisted with their ASC 842 implementation, acting as an extension of their existing team. “We contracted out a lot of our 842 support to RSM to help identify and pick a technology solution to handle the policy administration and controls, what we needed to do going forward, as well as complete all the documentation for our auditors,” said Phil Moussally, Vice President of Global Accounting, Syneos Health.
- Successful adoption of ASC 842 includes beginning your implementation process early
- Engaging with a trusted advisor can help simplify the adoption process
- Don’t delay getting started; adoption of this standard is a lengthy process